Paris | March 14, 2017 – eFront, the leading financial software and solutions provider for managing alternative investments, today announces strong results for 2016, with an exceptionally high level of customer wins, including 70 new GP, LP and asset servicing clients from the global alternative investment sector adopting eFront’s products for the first time. Further to those new wins, 10 additional clients adopted eFront risk management solutions.
New client acquisitions during 2016 included a prominent insurance company in North America, a major Nordic state investment fund and the largest private equity firm in the Asia-Pacific region. These wins helped eFront introduce three new clients to its top ten largest, contributing to a recurring revenue growth rate of more than 20% per year for the past three years. The new customer success department launched in 2016 to deliver superior customer experience across customer lifecycle stages was instrumental in last year’s success.
As importantly, 62 new clients went live with eFront products in 2016 raising the bar of assets under management in eFront’s systems to 5 trillion US dollars.
During the year, eFront continued to invest in product innovation and outstanding client service to further consolidate its position as the market leader of solutions provider for the alternative investment industry. The company targets an ambitious product road map during 2017-2018, which will increase customer satisfaction by further minimising the cost of deployment, reducing the cost of total ownership and shortening the time-to-value through the deployment of standardized solutions that are designed specifically for alternative sub-asset classes including Private Debt and Venture Capital as well as portfolio risk and exposure management.
Olivier Dellenbach, CEO of eFront, said: “Providing our clients with critical competitive advantages is what gets us up in the morning and motivates us to improve upon excellence. During 2016 we further improved our market-leading offering, delivering the first and only cloud-based solution for the alternative investment industry, and continuing to pioneer industry standardisation. By so doing we are laying the foundations for a fully integrated suite of products that will revolutionize operational efficiencies.”