Main Singapore-Based Private Equity Firm

Decreased costs by switching to in-house accounting

Background

A leading Singapore-based private equity firm, investing in Asia’s financial and tech sectors, was burdened by high fees from large fund administrators. Seeking autonomy and cost savings, they embarked on a quest for an in-house software solution. Their search culminated in the discovery of FundCount, which they initially used alongside their existing administrator. Impressed by its efficiency, they soon transitioned entirely to FundCount, reaping substantial savings and streamlined operations.

Objectives

Roadmap to objectives

Identify & research

Recognize the challenges with the current fund administration and initiate a comprehensive search for suitable software solutions.

Evaluate & test

Vet potential solutions for functionality, expertise, and support. Begin using the top contender (e.g., FundCount) alongside the existing system to compare.

Assess & decide

Monitor the new software’s performance and, if it aligns with expectations, transition fully, eliminating the need for the external administrator.

Optimize operations

Leverage the chosen software’s capabilities to enhance and streamline accounting processes, achieving cost savings.

Key results

The firm moved to in-house fund administration with FundCount, resulting in significant cost reductions by eliminating external administrators.

With FundCount’s integrated accounting system and direct Bloomberg connectivity, the firm enhanced operational efficiency and reduced manual errors.

FundCount enabled swift client-specific reporting and effective handling of the firm’s intricate master-feeder structures.

The firm consistently benefited from FundCount’s top-tier technical support, ensuring uninterrupted operations.

“Reports are excellent and customizable. FundCount enables us to quickly run the relevant report or cater to any other client request.”

Executive Vice President of the firm