ERP Consultant Network Blog


Single Family Office Cloud ERP Software: Save Time With Streamlining

Written by Erica Burles on 11 Feb, 2020
Wealth Management Software

Save time and streamline with single family office Cloud ERP software

If you're like many single family office wealth management firms, you may struggle with on-premise software to manage your accounting. By implementing single family office cloud ERP software, your organization can drastically reduce the time it takes to consolidate the multiple funds, in several currencies, all while providing the real-time data necessary to facilitate quick investment decisions.

Here are 3 pain points Sage Intacct’s single family office cloud financial software solves to streamline your complex financial operations:

Pain Point #1: “The system is not able to automatically consolidate data across different funds.”

With wealth management ERP software like Sage Intacct, your weal stay in control across any number of funds. Easily manage dozens of assets, including US, European, and Private Equity. And Intacct tracks the asset class as a dimension, so it’s easy to see the impact each asset class is having on the fund.

Sage Intacct utilizes a shared chart of accounts which spans your multiple funds so the system can automatically and continuously consolidate to a base fund for analysis. Something that once took financial managers dozens or hundreds of hours to consolidate with countless spreadsheets, is now done in minutes and recorded as part of the system of record. Also, you'll be able to add funds or entities in minutes and to support growth easily.

"The system can automatically and continuously consolidate to a base fund for analysis. Something that once took financial managers dozens or hundreds of hours to consolidate with countless spreadsheets, is now done in minutes."

Pain Point #2: “Our current system does not share real-time data for investment and financial analysis.”

Unlike your existing software, Intacct has powerful, customizable, built-in dashboards that instantly show you the latest financial and operational data and key performance indicators with drill down capability to see the transactions behind those dashboard metrics. (Getting to underlying data right inside the system of record makes you keeps you GAAP compliant and audits easier.)

Generate reports and answer questions on demand instantly rather than working a week or more hunting down the data. Secured, web access to Intacct means your teams will see useful new insights whenever and wherever they want. Roles-based views enable dashboards to be customized and top-level dashboards show you consolidated funds from the perspective of the portfolio analyst.

With a consistent view within and across all your entities, you can slice and dice by fund, location, and asset class including foreign funds and private equity without expensive IT support. You can manage any number of funds and the straightforward process remains the same.

Pain Point #3: “The decisions we make are not documented with context in our system of record.”

Cloud ERP software enables everyone to collaborate on decisions and document them in the context of the financial records to which they relate. Front-to-back office audit trails allow you to track what you did, when you did it, and why it was done so you can stop remembering and simply document decisions. You can also include snapshots and data with the conversations.

To date, there are a half trillion dollars in assets under management using Intacct cloud ERP software. Intacct is fully GAAP compliant and provides your firm with best in class, multi-currency finance and accounting with continuous consolidation and drill down across multi-entities so you can reduce rollup times from double-digit hours to just minutes.

It's possible to transform your single family office productivity, performance, and growth with real-time data ready on demand to facilitate quicker decisions enabled by the only AICPA-recommended cloud ERP software, Sage Intacct.

Contact Equation Technologies to learn how Sage Intacct can help streamline your business processes.

Another version of this blog was posted on April 25, 2019 - Streamline Investment Decisions with Cloud Financial Software.

Blog Updates

Subscribe Here!



SAGE 100cloud BLOG





Related posts

Related Blog
Contact Us