You have created a network of operating companies to minimize liability and protect the assets. You need access to on demand, financial and management reports that consolidate and drilldown by operating company, location, customer profitability, instrument, currency … , to drive the business based on up-to-data data. You need to close entities at different times for period ends. You need to move to using monthly management dashboards to present to your board.
Today the Time to generate integrated financial and management reports is 10’s and in complex situations even 100+ hours forcing this to be a quarterly reporting process as opposed to a drive the business process using up-to-date data. You need to know more, more quickly about the financial and management data that underpins your business. This is impacting your ability to grow.
You have created a network of operating companies to minimize liability and protect the assets. You need to minimize the cost of supporting separate legal entities.
Today the cost of setting up, installing, maintaining, administering and running a separate system per operating company is prohibitive – Multiple IT systems, software, applications, staff, …Growth is forcing you to look for a better way to manage fund accounting and reporting. Some on-premises systems used by similar organizations require 300% growth in staff and cost up to $500k to deliver. This will affect your IRR too negatively.
Intacct works with data-driven Chief Financial and Chief Investment Officers who need access to integrated financial and management reports, across their holding and operating companies, in minutes not 10’s or 100’s of hours, to grow and drive their investment business.
Intacct is the only cloud accounting system, chosen by the AICPA that provides best-in-class, continuous consolidation and drilldown across multiple funds reducing rollup times from up to 100 hours to minutes with full GAAP compliance and a 97% customer satisfaction rating
Find out how one Wealth Management Company optimized their Finances. View the On-Demand Webinar here.
Since we are on the topic of Wealth Management, if you are in the Toronto area and plan on attending Quant World Canada 2016 on November 10th, drop by the Black River booth, we will be there and would very much look forward to seeing you!