10 Signs that Your Private Equity Fund Needs Fund Management Software
For Private equity fund managers who need to talk to a lot of investors, who track a lot of deals, or monitor a lot of investments, organization is key. And without the right software in place, fund management can quickly become overwhelming. Here are 10 signs that your organization needs fund management software.
- Phone numbers and email address for the people your organization contacts are spread out through various people’s personal addressbooks.
- You’ve scheduled a meeting with a potential investor only to find out that your colleague was there a week ago.
- You’re unable to access your company’s database or shared drive from the road.
- You need to demonstrate to potential investors that you have a regimented process that differentiates you from other funds.
- You have to manually number PPM’s and you don’t know which prospective investors you’ve sent them to.
- The spreadsheet you currently use to track your funds contains formula errors.
- You have to email colleagues to find out what happened in a recent meeting.
- Steps in the due diligence process are not well defined and there’s no record of who performed each step.
- Regulatory or compliance requirements force you to be more transparent in your portfolio management.
- You spend more than 10 seconds compiling your pipeline report for investing or fundraising in preparation for your weekly meeting.