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Many private equity firms today are using an improvised mix of Outlook and Excel to manage their investor contacts and communications. Often this means that individual partners have their own personal Outlook contact folders, with data stored separately from person to person. Other information such as notes, emails, documents, mailing lists and accounting data may be kept in separate spreadsheets and systems. This creates a considerable amount of data duplication across a firm, and provides no centralized location for sharing information or storing common contact details. It quickly becomes a disjointed infrastructure and it is difficult to easily access investor data.
To solve this problem, many firms are turning to integrated systems such as TNR Solution to centralize investor data, streamline their workflow and create more efficiencies. By consolidating investor contact records into one system, private equity firms are able to reduce the amount of internal time spent updating and organizing investor information, and at the same time provide better and faster service to investors.
Investor relations systems are not just about storing contact details. A specific IR software package will also have the ability to integrate back-office accounting data, generate investor statements and publish reports via an online web portal. The ability to generate mail-merge correspondence, capital call and distribution notices, quarterly reports, IRR and performance data, financial and capital account statements should all be considered when implementing a new IR system.
As private equity investors become more demanding about the type of information and disclosure they require from fund managers, IR systems will continue to evolve. The ultimate goal of any IR system is to centralize data, provide investors with more detailed analytics, simplify marketing and reduce internal redundancies.
If your firm would like to streamline your investor relations and communication, SS&C can help. TNR Solution, now available from SS&C's subsidiary, TheNextRound, Inc. (TNR) provides an integrated platform for all of your investor relations needs.
For more information, contact Heather Litwin at 508-665-5214, request more information or a demonstration or email us at solution@sscinc.com.
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This article first appeared in the 12/11/2009 edition of our Asset Management eBriefing.
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