Fund Administration Software: Delivering More Values And Maximize Growth
The fund admin sector is important to managers looking for middle and back-office support. Fund administrators provide a lot of services and since their jobs are extremely confidential and meticulous, it can cause delays.
The new and emerging fund admins face challenges though addressing them using an advanced tool. They look for the best software to run funds fast and on time. The fund admin software helps them solve the challenges on the following:
- attracting new business
- maintaining exceptional client service
- managing operational efficiency
The fund administrators scale their operations effectively using a scalable and robust technology solution.
Fund administrator software
Fund administrator software is a purpose-built technology to optimize the investor experience and enhance operational efficiency. The software includes tools to make the work advanced, such as:
- Automating workflows
- Onboarding client data
- Captivating prospects
- Delivering investor value for the clients
Understanding about fund administration
Fund administration engaged in a third-party provision of middle and back-office services to the following:
- private equity
- private debt
- real assets
- venture capital
- hedge funds
The managers of alternative asset funds rely on the fund administration service providers for managing middle and back-office services for various benefits:
- focus on their core
- sourcing and executing deals
- managing portfolios
- securing exits
- delivering returns for investors
The fund administrator tasks manage alternative asset managers, including:
- Audit and tax support
- Anti-money laundering (AML)
- Financial and investor reporting
- Fund accounting
- Fund compliance
- Investor services
- Net Asset Value calculations
- Managing capital calls and distributions
- Regulatory assistance
- Technology and advisory services
Tasks performed using fund administration software
Fund administration software can perform various tasks, such as:
Managing clients
The fund admin portal manages clients in a secure platform with various access rights for the team members. The software helps manage clients using a single platform to manage the following:
- multiple clients
- automate workflows
- provide real-time oversight
Clients can manage tasks related to the following areas:
- fund accounting
- investor onboarding and reporting
- compliance
- regulatory obligations
Accounting
Dual-sided accounting helps with the efficiency and event-driven automation for funds and direct investments. The fund administration software for accounting services handles various tasks:
- Recording transactions
- Simplifying budgeting
- Streamlining workflows
- Mitigating risk
- Reporting
- Reducing human error
- Closing the books
- Responding to requests
- Ensuring compliance
- Improving accountability
- Tracking and benchmarking reports
- Producing and distributing statements
Going over these tasks to perform manually can be tiring and time-consuming. The software helps automate everything, which is very time-saving and effortless.
Workflow automation
Fund administration software can help fund workflows be automated, like transfers and closing. The workflow is automated, so you do not need to do this manually or via paperwork.
Reporting
The configurable reporting tools of the fund administration software can be used to meet the client’s needs. When you need a specific report, you can easily share it without delivering thick paper as it can already be accessed through the software.
Calculations
Calculating funds becomes easier and faster using the software. Several tasks can be performed quickly, such as:
- gather data
- process calculations
- push outputs back into the system
Conclusion
Fund administrators can manage funds and keep data reports in one place, and run the platform smoothly using specialized fund administration software.
