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Obained flexible, fast reporting that can slice and dice data of current and new clients
Background
Paget-Brown Trust Company, a boutique corporate services firm based in the Cayman Islands, offers a myriad of services to corporations and individuals globally. Experiencing significant growth over the years, the firm ventured into the fund administration business in early 2018. Initially relying on Excel spreadsheets for fund accounting, they soon realized the limitations of such an approach, especially as they prepared to onboard new clients.
Objectives
- Transition from Excel spreadsheets to a more robust fund accounting solution.
- Efficiently manage the increasing workload and expand the business.
- Implement a solution that offers flexibility in reporting and can cater to the diverse needs of their growing clientele.
- Ensure the chosen software provides an integrated platform for efficient record maintenance and reporting.
Roadmap to objectives
Accept the hurdle
Understand the limitations of using Excel spreadsheets for fund accounting, especially with the anticipated growth.
Research & evaluation
Conduct a thorough search of potential solutions, leading to the discovery of FundCount.
Decision & implementation
Opt for FundCount due to its flexibility, user-friendly interface, and cost-effectiveness.
Operational integration
Implement FundCount in the fund administration department, leveraging its capabilities for ongoing management and reporting.
Key results
Enhanced recording of realized and unrealized gains and losses.
Efficient and accurate transaction recording within the fund, streamlining portfolio and accounting records.
Introduction of features that save time, such as direct actions from the fund summary screen and automated regular expense accruals.
Tailored reporting capabilities, allowing data extraction in various forms to meet stakeholder needs.
"The operational efficiency and scalability that FundCount provides will ensure we remain effective in product delivery and can support existing and new clients going forward."
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