As a private equity firm, your team talks to many investors, track numerous deals, and monitor a variety of investments. Making organization key. Without the right fund management software in place, your job can quickly become overwhelming.
If you aren’t able to perform the activities below quickly and efficiently, those are signs that you need fund management software.
1. Store contact information.
If phone numbers and email addresses for the people your organization contacts are spread out through various people’s personal address books, that’s a problem. That information must be in one, easily accessible location.
2. Track firm-wide activities.
You’ve scheduled a meeting with a potential investor only to find out that your colleague was there a week ago. That’s awkward. And it doesn’t have to happen—and won’t happen—when you have a holistic view of what’s going on at your firm.
3. Work from anywhere.
If the COVID-19 pandemic has taught us anything, it’s that you must be able to access your company’s database or shared drive from the road, your home, or anywhere.
4. Stand out from other firms.
You need to demonstrate to potential investors that you have a regimented process that differentiates you from other funds. Specialized fund management software enables you to do that.
5. Keep track of PPMs and other fund documents.
If you have to manually number PPMs and you don’t know which prospective investors you’ve sent them to, it’s time to get an assist from technology.
6. Leverage accurate, real-time data.
Using spreadsheets to track your funds is risky for many reasons. Just one formula error can create significant problems. Fund management software eliminates that risk.
7. Keep your team in the know.
It’s very inefficient to have to email colleagues to find out what happened in a recent meeting. You should be able to find that information quickly without their assistance.
8. Perform due diligence effectively.
Too often, the steps in a firm’s due diligence process are not well defined and there’s no record of who performed each step. Fund management software can ensure this process happens the same way every time and that each action is documented.
9. Meet portfolio management requirements.
You need a system that can assist you when regulatory or compliance requirements force you to be more transparent in your portfolio management. Altvia answers can help you transform and normalize data.
10. Maximize your time spent fundraising.
You shouldn’t have to spend more than 10 seconds compiling your pipeline report for investing or fundraising in preparation for your weekly meeting.
Learn More About Fund Management Software
If you’re seeing the signs that you need to implement fund management software, the first step is to learn about what’s available.
Request a demo so you can see our comprehensive private equity solution in action.