10 Ways to "Spring Clean" your Fund Management Software System

By Jason Viado, App-X

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.

1. 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.
2. Add Metric Tracking.  For more insight into the performance of your funds, consider tracking metrics around investments.
3. 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.
4. 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.
5. Data cleanup.  Deleting obsolete reports, cleaning up list views, and removing duplicates can be critical to maintaining high user adoption.
6. 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.
7. 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.
8. Training.  Invest in training for new users or furthering the knowledge of your experienced users.
9. Add validation rules.  Consider adding validation rules to make sure new data related to deals, contacts, or accounts is filled in correctly.
10. 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.