10 Ways to "Spring Clean" your Fund Management Software System
With spring upon us, we’re all busy trying to avoid doing any actual spring cleaning. Instead, why not do some clean-up of your existing Fund Management Software? Here 10 simple ways you can get more out of the system you already have.
- New dashboards and new reports. It’s always a good idea to re-examine the data you’re getting out of the system to see if there’s a way to get more valuable data.
- Add Metric Tracking. For more insight into the performance of your funds, consider tracking metrics around investments.
- Print-ready tear sheets. Simple print-ready reports are an easy way to streamline the compilation of reports for Monday morning meetings or any other reports you manually compile regularly.
- Add new user licenses. If you have users who share logins, adding additional named users lets you track exactly who changed records, or sometimes more importantly, who deleted a record.
- Data cleanup. Deleting obsolete reports, cleaning up list views, and removing duplicates can be critical to maintaining high user adoption.
- Screen clean up. Along the same lines as data cleanup, removing fields that aren’t being used and eliminating near-duplicate fields always contributes to the validity of your data.
- Automate processes. Examine tasks that are currently being done manually outside of the system, perhaps in spreadsheets, and consider having your system do them for you.
- Training. Invest in training for new users or furthering the knowledge of your experienced users.
- Add validation rules. Consider adding validation rules to make sure new data related to deals, contacts, or accounts is filled in correctly.
- Expand your workflows. Set up new workflow rules to automatically update records, send out emails, or assign tasks when deals move to the next stage or when they get rejected.