10 Ways to Optimize Your Fund Management Software

If you’ve made a smart investment in purpose-built fund management software for your firm, you want to be sure that it continues to deliver the maximum benefit to your team members. 

The best fund management software solutions, like ours at Altvia, don’t require a great deal of upkeep. But it can be helpful to take a fresh look at your system periodically to ensure you’re getting all you can out of it.  

With that in mind, below are 10 actions you can take.

  1. Create new dashboards and reports. It’s a good idea to review the data you’re getting out of your system now and then to see if there’s other information that would be helpful, new ways to summarize your data, etc.
  2. Add metric tracking. For more insight into the performance of your funds, consider tracking metrics associated with your investments.
  3. Develop print-ready tear sheets. Simple, print-ready reports are an easy way to streamline the compilation of reports for weekly meetings or any other reports you manually compile regularly.
  4. Add user licenses. If you have multiple users sharing the same login information, you should consider getting more user licenses. Having everyone access the system with their own credentials enables you to track who changed which records, and sometimes more importantly, who deleted a record.
  5. Perform database cleanup activities. Deleting obsolete reports, cleaning up list views, and removing duplicates is critical to maintaining the value of your data. It can also support higher user adoption, as people quickly lose trust in a “dirty” data source.
  6. Update screens. Along the same lines as data cleanup, removing fields that aren’t being used and eliminating near-duplicate fields contributes to the usability of your system.
  7. Automate additional processes. Look for tasks that are currently being performed manually outside of the system—like in spreadsheets—and consider having your system do them for you.
  8. Conduct training. Any investment you make in training new users or expanding the system knowledge of existing users benefits both your firm and the stakeholders you interact with.
  9. Add validation rules. Consider adding validation rules to your system. They ensure that data added to the system is complete and correct. If it’s not, the user is prompted to make corrections.
  10. Create or expand workflows. Workflows help make tasks as efficient and effective as possible. For example, you can set up workflows to automatically update records, send out emails, assign tasks when deals move to the next stage or when they get rejected, and more.


Create the Fund Management Software Solution You’ve Envisioned

Every firm is unique. For that reason, while Altvia solutions are designed with best practices in mind, you can, nevertheless, optimize your fund management software the way that best meets your needs. And, if your needs change, you can tweak our fund management software solutions so that they evolve with your firm. 

Considering implementing fund management software or replacing your existing system? See our industry-leading solutions in action. Request a fund management software demo today!

A traditional crm was built for general ‘customer’ scenarios

Software platforms have made the world a better place by making work a better place. Indeed the world is better off when people enjoy their jobs even marginally more, and workplace applications on big CRM platforms like Salesforce.com have done that and much more.

But the potential that platforms like these offer presents diminishing returns: once the platform provider has engineered too many industry specific components into its platform, its usefulness for other industries begins to be threatened, and with that so do the usefulness of the component tools built into the platform.

So it is with the CRM category that Salesforce.com has defined: it is generic enough to work for many industries, and yet still offers the potential for others to round off the edges and nail more vertically-oriented and extremely tailored software solutions.

Private capital markets are actually a great demonstration of this dynamic. Where generic CRM platforms simplify — appropriately so — to assume there’s a business, a customer, a sale, and service of that customer, there are a few industry-specific pieces that are missing.

Take for example, that investors become customers by investing through legal entities the GP raises. It’s a subtle but important nuance that just doesn’t make sense at a platform-as-a-service level (because it’s overly complicated for a simple one-time sale that many industries require), but which can easily be added without 10 years or software engineering. Once provided, the rest of the platform’s components become tremendously powerful again and you’re set to take over the world.

As a traditional CRM in our pillars methodology, these nuances must be present to properly account for investors in these legal entities, potential target companies and which are owned by these entities, the context of all interactions with these parties (as well as the appropriate overlap, ie co-investments), and how you’re arriving at finding these opportunities on both sides of the equation, such that you’re able to piece together what’s effective and what’s not. Not just because we say so, but because these are the very relationships and data that are key to the motivation behind a CRM in any industry.

It’s critical, too, that the valuable publicly-available information that helps to enrich CRM systems and save users painful steps of entering it themselves is fully-integrated at the platform level.

Again, look no further than the 3,000+ pre-built integrations that Salesforce.com — the creator of the CRM platform concept — has at a platform level to do so, and which only exists by way of holding just short of overly-specifying certain industry workflows that would present challenges to properly integrate.

Stakeholder reporting and communication (investor relations) draws on a range of datasets

The traditional “customer service” model of CRM systems once again makes overly-simplified assumptions about the customer relationship when applied to private capital markets.

In fifteen years I personally have yet to hear the terms “warranty” or “service call” in this market because it’s just not the same. But make no mistake, as uncomfortable as it may be to say aloud, customer service is more important now than ever and it’s constantly happening; the industry is, after all, considered to be a financial “service”.

As it turns out, that service is primarily information-based — it’s driven by data and takes the form of reports and analysis that drive decisions, and then end up again in investor-facing reports and analysis.

The foundational elements of a private capital markets CRM must be built such that they accommodate this data (like we discussed above), but so too that it can accommodate additional supporting data that investors (customers!) need in the context of service.

Oftentimes this supporting data — financial metrics and time-based values, for example — is believed not to meet the traditional definition of CRM and the natural thought is “well, better do this in Excel!”.

While I happen to believe Excel is still the greatest software application ever built, its introduction to this value chain we’ve discussed herein actually creates the problem many firms suffer from: key data needed to provide customer service (again: effectively the entirety of a firm’s reports and analysis) is now in disparate systems and detached.

Both of those dynamics are important and distinct: not only is this supplemental data disparate, but when brought together there is no logical association that can be made between the two data sets.

Allow me, then, to make the point very simply: not only can this financial and time-based value data (you may be thinking about is as “portfolio monitoring” or “accounting”) be a part of a CRM, it is arguably the most important part of a CRM because it’s at the core of what providing service to the customer entails — information that comes out of data!

Firms need a digital method to engage stakeholders (ie investor portals)

Investor portals are not new; in fact, for many of us — including myself — they conjure up horrifying nightmares in which we’re aimlessly guessing at folders to find the newest document we need.

So in lies the opportunity: not only have the portals we’ve come to hate not simplified the process of acquiring information, they’ve failed to create an entirely new experience that is “customer service” driven.

To be fair, this is not a B2C market where you’d be long out of business for not having focused on customer service and thus the customer’s technology-driven experience. But don’t expect to be around too much longer if you aren’t thinking about this shift.

Today’s institutional investors increasingly expect this same consumer-like experience, and a massive opportunity is being missed by not providing it. It’s not about providing them the experience they desire; it’s more about the ability to measure engagement that is had in return.

Put simply: what’s keeping the market from providing this experience is the availability of the information that’s required to create the service that provides the experience.

If you’ve hung in this long, you know that by focusing on your CRM, you have the data that’s required to manage the customer relationship and the technology-driven experience through which that information is shared to create a differentiated and opportunistic customer experience.