A leading Singapore-based private equity firm, investing in Asia’s financial and tech sectors, was burdened by high fees from large fund administrators. Seeking autonomy and cost savings, they embarked on a quest for an in-house software solution. Their search culminated in the discovery of FundCount, which they initially used alongside their existing administrator. Impressed by its efficiency, they soon transitioned entirely to FundCount, reaping substantial savings and streamlined operations.
Objectives
- Eliminate reliance on external fund administrators.
- Find a cost-effective accounting solution capable of managing complex private equity requirements.
- Ensure the chosen solution provides superior technical support.
- Streamline accounting processes and reduce costs.
Roadmap to objectives
Identify & research
Recognize the challenges with the current fund administration and initiate a comprehensive search for suitable software solutions.
Evaluate & test
Vet potential solutions for functionality, expertise, and support. Begin using the top contender (e.g., FundCount) alongside the existing system to compare.
Assess & decide
Monitor the new software’s performance and, if it aligns with expectations, transition fully, eliminating the need for the external administrator.
Optimize operations
Leverage the chosen software’s capabilities to enhance and streamline accounting processes, achieving cost savings.
Key results
The firm moved to in-house fund administration with FundCount, resulting in significant cost reductions by eliminating external administrators.
With FundCount’s integrated accounting system and direct Bloomberg connectivity, the firm enhanced operational efficiency and reduced manual errors.
FundCount enabled swift client-specific reporting and effective handling of the firm’s intricate master-feeder structures.
The firm consistently benefited from FundCount’s top-tier technical support, ensuring uninterrupted operations.
“Reports are excellent and customizable. FundCount enables us to quickly run the relevant report or cater to any other client request.”
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