A look at what our clients will leverage to Thrive in 2020.

Earlier this month, Altvia clients and friends joined us for our inaugural THRIVE user conference to learn, connect and leverage the Altvia technology for the Private Capital Markets industry. 

THRIVE was two days of discussions from pioneers of the Private Capital Markets, one-on-one working sessions with clients, and workshops with technology best practices.

We kicked off the event with a keynote with Jerry Colonna and Altvia CEO, Kevin Kelly, where they discussed that the true returns on investment in the Private Capital Markets don’t solely come from products but from relationships. That we don’t only invest dollars but we invest trust and that true value comes in leadership throughout the firm. 

In addition to ‘thinking big,’ discussions around our current product workflows and enhancements inspired by clients were some of the most helpful to attendees. 

Overall, the conference was an opportunity to affirm our partnership with our clients and hear first hand what they need to succeed in the changing environment.

Three main themes that emerged repeatedly throughout the two days of THRIVE were:

  1. “How does my firm’s technology compare to the industry?”
  2. “How do we  streamline communications for investors to create trust?”
  3. “How can we ease the frequent data requests from our LPs?”

“How does my firm’s technology compare to the industry?” 

During our “Reimagining Your Technology Strategy” session, Jill Montera, VP of Customer Success shared a frequently asked question from our clients, “What are best practices for Private Capital Markets and what is everyone else doing that I should be doing?”. 

In the session, Jill unveiled the Business Maturity Model from Altvia’s Customer Success team. Firms use the model to measure where they stand in 5 key areas of success:: 

Technology – the investment made and how the use of it within your firm evolves over time 

Data & Analytics –  your firm’s data quality, and how your firm utilizes it to share insightful reporting 

People – how the team as a whole uses and adopts technology and if there are the right players within the firm to drive an internal or external technology strategy 

Processes – your firm’s business processes and how well they are aligned within the technology

Sponsorship – the involvement of a senior-level executive sponsor  throughout technology implementations and how it correlates to project success

Using details under each category, you score along the scale from  “developing” to “emerging”, “strategic” and for those really progressive, “market-leading”.

The WHY? 

With more firms implementing technology to keep up with the demands of external stakeholders regarding transparency, communication, and reporting, it’s important to understand and evaluate where you sit within the 5 areas to be competitive and get the most return on your investment. 

See where your firm stands with the Business Maturity Model assessment here and get a summarized review. 

“How do we streamline communications for investors?”

Frequently, firms within the private capital markets use Excel spreadsheets to manage contact information and data for investor capital calls notices, K1s and PPMs.  

VP of Products, Jeff Williams had first-hand experience from his early career as an associate at a fund-of-funds on the pain points firms experience. “It would take me days, if not weeks, to get our capital call notices sent out. The painstaking process of double, if not triple checking, every detail on notices would leave me and our team with smoke coming from our ears.”

Altvia’s Correspond – Investor Edition version 2.0 was released this month and announced at THRIVE 2020. The latest Correspond tool helps firms in three main areas:

  • Send Investor Specific Documents
  • Reduce steps to gather recipient contact information
  • Track Email Delivery 

Send Investor Specific Documents

Each firm has its own specific template or file generated from their fund administration tool to send to investors. Then someone from the firm to confirm the generated file and compare it to the communication preferences saved in their CRM. Correspond easily allows our clients to upload a template and leverage their AIM database to generate those communications automatically and without error.  

Reduce Steps to gather recipient contact information

Firms can have subgroups within a single fund that need to receive an email or document that the entire list of investors does not need to receive due to a side-letter agreement. For clients with Correspond, users can generate a report to easily identify and segment their fund investors.

Track Email Delivery 

Rolling out in the relaunch of Correspond – Investor Edition is a new delivery report. Previously, once a batch was sent, users didn’t have a centralized location to view all of the stats around the send. 

ic delivery report 2

The new intuitive delivery report includes charts and filtering that makes it easy for the user to view which recipients have seen the shared documents in both ShareSecure and opened emails. Firms have more transparency and can expect those “I never received that email” calls to disappear. 

If you’re interested in viewing a demo of the latest Correspond, send us an email at info@altvia.com.

“How do we ease the frequent requests from our LPs?”

Investors demand metrics around the deployment of their capital investments. This increased level of transparency means it’s no surprise that firms seek an easy way to collect, consume, and share data on funds, portfolio companies, and business opportunities with internal and external stakeholders. 

pe crm sectors with highest investment activity

We developed Answers to bring data together from several different sources into one place. By consolidating the information and creating persistent data connections, firms reduce the time it would take for someone to calculate it manually, the concern of human error, and the instant staleness that occurs in spreadsheets 

 

 

The beauty of Answers is it allows investors to access the data in real-time, or for someone to get back to them after they’ve crunched the numbers.  

Between how the system creates a single-source of truth, provides clean and visual reporting, and offers on-demand access for investors, this product has been integral to driving that transparency and trust that investors desire.

 

What’s Next?

Whether you were hoping to attend THRIVE 2020 and couldn’t, or you weren’t sure what it was, I hope you get re-energized to take on your firm’s 2020 goals with some of the ideas shared. 

We look forward to seeing everyone next year at THRIVE!