BPFM selects eFront Invest to provide superior investor service
Paris, October 1, 20 …
Paris | May 23, 2019 – eFront, the world’s leading alternative investment management software and solutions provider, announced today that SOLIDIS, a financial institution and venture capital company based in Madagascar, has selected eFront Invest for the management of its private equity and guarantee funds.
The wide range of functionality offered by eFront solutions has allowed SOLIDIS to streamline various processes across both their front and back offices within their client services, finance and accounting, and investment departments. Straightforward search functionality, automatized extraction, as well as easy processing and clear visualization of data have all been contributing factors to improving data management across the company.
Hariniaina Rajaobelison, General Secretary at SOLIDIS, said, “Since implementing eFront solutions, we have reduced the amount of time needed to manage, process and analyze our data by up to 80%. Our collaboration with eFront has been very beneficial thanks to the team’s responsiveness and ability to adapt to our needs, particularly when it comes to change requests. With such an adaptable product, it is no wonder that eFront solutions are the leading supplier for the venture capital and guarantee funds market in this region”.
Philippe Verboogen, EMEA Managing Director at eFront, commented, “We are pleased to see such a significant improvement in productivity across both the front and back offices of SOLIDIS, especially as our solutions have been carefully configured to suit the niche nature of their business. With the recognized potential to further increase efficiency across their other business activities, we are excited to see what our future collaboration with SOLIDIS will bring”.
SOLIDIS is a financial institution that was founded in 2008 at the initiative of ten business leaders from different sectors with an aim to contribute to the economic development of Madagascar through the promotion of entrepreneurship. To achieve this, SOLIDIS provides reliable financing and guarantee solutions by promoting access to bank financing for SME’s as well as financing for any individual or entity who has feasible and credible projects with high potential in strengthening their own equity; offers a guarantee to individuals to support real estate loans as an alternative to mortgages; and additionally, issues specific guarantees for commercial loans for activities such as construction contracts. In 2014, SOLIDIS was chosen to manage the Partial Portfolio Guarantee Fund (GPP), a program of the World Bank and the Malagasy State. SOLIDIS CAPITAL, a venture capital company, was launched in 2017 to further the company’s original mission.