CASE STUDY
Streamlining Fundraising and Enhancing Operational Efficiency with Altvia's OnboardingBridge
Smart credit. Smarter relationships.
“Altvia and Passthrough are so easy to work with. They are both anticipatory in our requirements and save us hours of work per week.”
Sara Anderson
Investor Relations Product Manager
ABOUT PENNANTPARK
Founded in 2007 and headquartered in Miami, with offices in New York, Chicago, Houston, Los Angeles, and Amsterdam, PennantPark focuses on lending to middle market private-equity backed companies with $10-$50 million USD of EBITDA. With an average of 25 years of experience in middle market credit and over $18.5 billion invested across a highly diverse investor base, PennantPark is an independent manager established to help alignment between lenders and equity investors.
FOUNDED
2007
INDUSTRY
Private Equity
OVERVIEW
Sara Anderson, Investor Relations Product Manager, joined PennantPark in 2017 and directly supports PennantPark’s fundraising and investor relations efforts. Faced with a manual and time-consuming workflow, heavily reliant on Excel and numerous stakeholders, Sara and team recognized the need for a solution that streamlined their internal workflows. This prompted Sara and team to search for a technology that would solve their workflow inefficiencies as well as support their reputation for excellence in middle-market lending.
CHALLENGE
PennantPark’s journey to Altvia’s OnboardingBridge powered by Passthrough originated from the complexities associated with the crucial documents required by the onboarding process. PennantPark’s previous workflow involved the coordination of various stakeholders, each grappling with the intricacies of accurately completing subscription documents. As a result, Sara’s team heavily relied on manual data transcription between their CRM and sub docs, and other inefficient workflows. This not only led to confusion and frustration but also resulted in significant time loss and disruptions in the fundraising process.
SOLUTION
Altvia’s OnboardingBridge powered by Passthrough is a solution that streamlines the onboarding process and mitigates the operational challenges faced by private capital firms. With OnboardingBridge, PennantPark experienced a significant reduction in administrative burden, a quicker investor onboarding process with Passthrough, and real-time visibility within Altvia’s AIM CRM, which facilitates quick decision-making. Ultimately, Altvia’s OnboardingBridge powered by Passthrough saves more than 6-8 hours of work a week by speeding up its onboarding workflows, and provides PennantPark with a way to minimize human error due to tedious manual transcription of sub docs.
THE BENEFITS
Streamlined Investor Onboarding: Passthrough’s electronic sub doc platform emerged as the solution to PennantPark’s prolonged onboarding challenges. Sara described Passthrough’s solution as delightful, easy, and seamless.
Real-Time Visibility: Altvia’s OnboardingBridge offers unparalleled visibility into the investor onboarding status for PennantPark. The team is able to access real-time updates on the status of onboarding — down to the last question an investor answered — which eliminates any internal communication hurdles caused by manual and inefficient spreadsheet maintenance. Additionally, with the ability to import sub doc data back into Altvia’s AIM CRM, OnboardingBridge ensures data accuracy throughout the raise.
Accelerate Timelines: PennantPark is able to minimize fundraising delays and expedite fund closures with 80% of sub docs returned complete and accurate, first time.
CONCLUSION
If you’re interested in learning more about Altvia, Passthrough, or their powerful integration, OnboardingBridge, book a meeting today.
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