eFront: How tech can unlock private markets
eFront’s Tarek Chouman explains how data and information exchange powered by technology will open the door to increased allocations to …
eFront, the world’s leading alternative investment management software and solutions provider, announced today that the Hamburg-based provider of fund management services, Brightpoint, implemented eFront’s dedicated enterprise software for venture capital firms.
We sat down with Andreas Jaschke to talk about his experience so far with eFront.
Q&A with Andreas Jaschke, Head of Finance at the Brightpoint Group
We chose eFront because we felt the need for a software solution that was able to support us as a company on our growth path. The software had to have the ability to automate most of our daily fund administration and fund management processes to allow us to scale the number of customers we can serve, without increasing staff proportionally. The eFront solution stood out due to its comprehensive functionality along the value chain, which made the system attractive not only for the back but also both the middle and front offices with its CRM, portfolio monitoring and fund administration modules. The numerous upload possibilities and thus flexible integrations with other systems were also a factor in our decision-making process.
The cooperation with eFront on a personal and professional level, especially with the Belgrade crew, has always been outstanding. They were very supportive during the implementation and production phases, and it was never an issue to reach someone on short notice in critical situations. The general technical knowledge of the system is also at a very high level for all eFront team members that we’ve worked with so far.
We use the platform for a variety of activities, including shadow accounting, schedule of investments and capital account preparation, returns and KPI calculation, quarterly report and capital call preparation and send-out, as well as portfolio monitoring.
All our operational employees use eFront, from team assistants and fund administrators to key account managers and our CFO. Investment team members and GPs also use the system for portfolio company review and fund performance management.
We most appreciate its comprehensive functionality and flexibility of modules as well as the close support of the eFront staff. As a heavy eFront user, I appreciate how most of the settings can be easily accessed and manipulated through the normal user interface, while eFront staff are always willing to educate us on how to use the more advanced features, allowing us to be more self-sufficient. More complex tasks and change requests concerning the database and reports are always carried out by the eFront team in a timely manner and to the requirements of the customer.
Benefits definitely include the automation, and therefore improved scalability, of many tasks that before would have been carried out in error-prone, overly-complex and fragile Excel spreadsheets or PowerPoint presentations. The consistency of once established transactions, reports, formulas, and so on is also a very important aspect, as the user can then focus more on qualitative-logic checks instead of format or formula errors. All of this, of course, increases overall efficiency.
Without eFront, we wouldn’t have been able to grow our client base as much as we did over the last two years without massively increasing our headcount. The service level offered by eFront is unparalleled to many other software solutions and always comes with a personal note, which makes communication much more pleasant and effective.
For the future, we are looking forward to deeper integration with other widely used systems and software solutions in the fund industry as well as more flexible reporting features. We would also like to share the data we have in eFront for live dashboards with our fund manager clients. Ultimately, increased automation will always be the main focus in order to grow sustainably.
The Brightpoint Group is a financial services provider offering individualized solutions in the alternative investments sector. The services offered by Brightpoint include consulting, fund management and investment infrastructures as an alternative investment fund manager. Furthermore, the Brightpoint Group specializes in structuring of financial products (closed-end AIFs) for private wealth clients of (private) banks and family offices.