Enhanced efficiency, optimized workflow, and increased report flexibility
Founded in 2011, TFO Phoenix, an Arizona-based family office, managed over $2.4 billion in assets. While they initially relied on spreadsheets for partnership accounting, the growing complexity of their operations and partnerships prompted them to reconsider this approach. Their quest for a more efficient back-office accounting and reporting solution led them to FundCount.
Objectives
Move away from spreadsheet-based partnership accounting to reduce time consumption and input errors.
Find a solution that offers a single consolidated database.
Seek software capable of handling the intricacies and special calculations of their clients' structures and returns.
Obtain a system that can provide a comprehensive view of performance, holdings, and other investment details across various entities.
Roadmap to objectives
Recognize the limitations
Understand the challenges and inefficiencies of using spreadsheets for complex partnership accounting.
Research & selection
Explore potential solutions and choose FundCount for its comprehensive capabilities.
Implementation
Transition from spreadsheets to FundCount, leveraging its integrated system for partnership and portfolio accounting.
Discover extended capabilities
Realize the broader functionalities of FundCount, from tracking all entities to providing actionable intelligence through look-through features.
Key results
Achieved improved operational efficiency and streamlined workflow with a single consolidated database.
Gained the ability to drill down through complex structures and nested entities to view actual net worth.
Benefited from powerful reporting capabilities, including consolidated look-through cross-entity reports and by-partner reports.
Expanded the use of FundCount beyond just partnership accounting to include family balance sheets, income statements, and other detailed reports.
"Everything FundCount said they could do, they ended up doing. That’s refreshing from a vendor. They have been a good fit for us."