Operational efficiency is an increasingly hot topic for fund managers looking to gain a competitive edge in ever-more-competitive markets. The key to achieving greater efficiency? Cutting-edge fund manager software.
From more effective fund management, to deal flow visibility, to the increased transparency that stakeholders are demanding, the right fund management software can help a firm streamline its operations while also providing a more positive stakeholder experience.
Today’s Advanced Fund Manager Software
In the early days of a fund management platform, there were many adoption hurdles to overcome. This included explaining to decision-makers what this new thing called “the cloud” was, why using it was better than storing data on local servers, and why it was much better than having team members maintain data on the hard drives of their individual computers!
The times definitely have changed. There are many people in the industry today who are only vaguely aware of what a “server” is if they’re aware at all. Every virtual task they attend to—in both their personal and professional lives—is accomplished in the cloud.
No longer does Altvia have to pitch the advantages of the cloud in areas like sophisticated authentication functionality, data redundancy, etc. We also don’t have to explain why using centrally located, easily accessible fund management solutions are much more efficient.
What to Store in the Cloud for Fund Management Efficiency
Local hard drives and on-premises servers do still exist, of course. Consequently, one area that we do still have to discuss with certain clients is what information they can and should store in the cloud. The short answer is: “Essentially everything.” It’s hard to envision a reason that any type of data shouldn’t be maintained in cloud applications—especially if those applications, like our solutions at Altvia, have enterprise-grade security.
We work to educate prospective clients on the importance of having institutional knowledge in a centralized, online system so that the information doesn’t “walk out the door” when someone leaves the firm or when a laptop fails. But even more than that, we explain that factors like transparency and operational efficiency are far-and-away greater in cloud-based software. Frankly, it’s impossible to be truly transparent with LPs if all your data isn’t in one place.
As for operational efficiency, the ability to produce reports and analyze data in near real-time is vital to a firm’s success. Whether it’s providing deal flow statistics or performance metrics, or responding to an urgent request from an LP, purpose-built fund manager software can help team members handle those tasks quickly and efficiently.
All of our solutions at Altvia have been developed from the ground up with the efficient access of accurate data in mind. That’s because firms that don’t operate efficiently quickly fall behind those that do.
Leverage Fund Management Software to Put Your Data to Work for You
Every firm has data that is vital to its operations. The difference between successful firms and those that don’t achieve their objectives lies in how well they manage that data. Organizations that store information in a disorganized collection of spreadsheets, email inboxes, and disconnected databases are at a distinct disadvantage today.
On the other hand, firms that implement advanced fund manager software have critical data at their fingertips wherever they are and whenever they need that information. And both their team members and the stakeholders they interact with can see the difference in their operational efficiency as soon as their solutions come online.
