2022 has not been kind to the financial markets. Particularly hard hit has been crypto and tech. It may be a surprise to hear then that from our industry perspective, technological innovation experienced a booming bull market and we have been able to leverage this trend by making FundCount better than ever. Economic pressures encourage inventive solutions. When the landscape gets rougher, investment managers need better data analytics, easier and quicker report creation, faster audit speed and stronger security to make up for less reliable returns. The needs of our clients determine our priorities.
I’d like to take this time to reflect on some of this year’s highlights and how they impact our field. Following is a discussion of key developments to our product and business over the past 12 months, new programs and strategies we have introduced, along with what we will be rolling out over the coming year.
Industry Trend Analysis and an Outlook for 2023
The year has seen a tremendous increase in technological development and influence on the industry. Progress offers exciting new conveniences, some of which require no new investment in infrastructure, yet which can free up staff time and eliminate human error. Artificial intelligence, blockchain, cloud computing continue to receive focus from the development community. These are being utilized in helpful and interesting ways in the field, focusing on targets such as accuracy, saving time and saving money. We take a deeper dive into the subject and what it means to you in the article 2022 in Review: The Relentless Rise of Tech in Accounting and What to Expect Next.
Client Satisfaction for Continuous Improvement
This year we performed our second annual customer satisfaction survey. We received 1.5 times more responses than last year and we truly appreciate each one! The crucial part of this survey is the feedback our clients provide. Getting positive feedback and kind words is something we treasure, but in particular I want to thank those clients who were frank and constructive. We take all criticism seriously and use it to improve our product and service.
FundCount is Now Faster and Fitter than Ever
From the 2021 feedback, many of our clients requested FundCount to do a better job with significant amounts of data. In 2022, we took this to task and made FundCount faster. A lot faster. Data processing speeds, especially global transactions, complete an order of magnitude quicker than before. What this means to the end user is that instead of waiting minutes or even hours on tasks such as large-file data import, transactions may be ready in just seconds or even instantly. In fact, large files complete 300 times faster.
Moreover, resource intensive procedures, such as redundant audits, have been removed, so dashboards swiftly open and unnecessary load on servers has been eliminated. Users will notice a significant reduction in overall strain on their system, especially when the Fund Summary opens. Better yet, this is all accomplished without affecting Fund Summary performance.
We are also moving forward with a switch to the PostgreSQL database, which is planned for release in early 2023. PostgreSQL is more suitable for FundCount clients, considering it is a more mature enterprise-level database management system. This will improve both performance and scalability of FundCount. Early testing has shown backup procedures will be 5-10 times faster, restoring a backup 3-5 times faster and audits complete 30% faster.
FundCount Academy Kicks Off
In October we gradually began rolling out FundCount Academy, a hybrid or blended learning program for all clients (internal employees & implementation clients). Experienced and novice FundCount users alike will benefit from e-learning modules, accompanied by live webinars. Learners will be introduced to best practices, tips and tricks, develop deeper industry knowledge and more.
We feel this blended learning approach benefits clients in a number of ways. It will improve workplace productivity and save time while creating smarter, more capable users.
If you are interested in enrolling, drop us a note here.
Client Success Team to Help Extract More Value
The quicker we help clients extract value from our software the more beneficial it will be for the overall growth of their companies. Successful clients are more engaged and tend to promote our product, and both help with long term success of FundCount.
Starting next year, our support team will be transformed into a dedicated business group focused on helping our clients get the most out of FundCount. The effort will be reinforced by a newly appointed Director of Client Success.
Client Reward Program for Greater Client Partnership
This September, we launched the Client Reward Program. When our clients partner with us and share their FundCount experience, they earn valuable rewards that can be put to use in a number of beneficial ways.
Through a choice of activities, such as referral calls, case studies, testimonials, joint presentations or webinars, participants earn points they can spend on training, consulting hours, conference admission fees, or charity. Participating firms can also receive a credit toward recurring FundCount payments. We are pleased to see that the program has already seen healthy client participation – and this number is growing.
On behalf of all of us at FundCount, I want to offer you our holiday greetings and wish you a healthy and prosperous new year. As we embark on 2023, we look forward with confidence and aspiration.