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Improved reporting and efficiently managed diverse investments

Background

PKF O’Connor Davies, LLP, a rapidly expanding certified public accounting and advisory firm, boasts a presence in the Northeastern U.S. with over 600 professionals. In 2007, as they ventured into the fund administration business to complement their existing services, they faced the challenge of finding a suitable partnership and portfolio accounting software.

Objectives

  • Launch a fund administration business to complement their audit and tax services.
  • Seek affordable partnership and portfolio accounting software adept at handling tax and investment cost accounting intricacies.
  • Find a solution that offers tax accounting for investments and partners, multi-entity support, and efficient transaction uploads.
  • Ensure the chosen software provides a seamless integration of all investment and partnership accounting.

Roadmap to objectives

Ascertain the demand

Recognize the requirement for a new software solution upon entering the fund administration domain.

Research potential solutions

Explore various software vendors to find one that aligns with their intricate needs.

Evaluate & choose

Opt for FundCount due to its comprehensive features and seamless integration capabilities.

Implementation & usage

Adopt FundCount across the firm, with over 50 professionals utilizing it for various functions, from reporting to tax accounting.

Key results

Successful adoption of FundCount by more than 50 professionals within PKF O’Connor Davies.
Efficient handling of complex clients with diverse investments, from private equity to distressed debt.
Enhanced reporting capabilities, allowing the firm to produce custom, qualitative reports based on various parameters.
Recognition for their reporting prowess, winning the Best Reporting Solution at the 2016 Private Asset Management Awards.

"FundCount not only offers a solid off-the-shelf solution, but has also been incredibly open-minded from the very beginning. They listened to our needs and made changes to the system to accommodate our requests. We got a solution that works well, at a price we could afford with a company that is very flexible. That’s why we continue to use FundCount today."

Marc L. Rinaldi, Partner-in-charge, Financial Services at PKF O’Connor Davies

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