In this current environment of the COVID-19 pandemic, family offices that don’t outsource or co-source have quickly figured out they have a significant gap in their operations and reporting environment. Many families have realized their data is weeks or months stale. Readily available information is hard to pull together due to manual processes across multiple systems. Processes that have been maintained over the years due to legacy models have been inherited by their current teams, with replication across teams proving to be complicated.
We have heard from many of our clients who use our fully integrated system for general ledger, portfolio reporting, and partnership accounting and performance. They have reported the investment in our technology has kept them ahead of exposures and risks due to COVID-19, market conditions and personnel constraints. Further, the ability to enable better decision-making by automatically sharing critical information to the family office’s investment professionals, and ultimately, the family office beneficial owners is vital.
Systems and processes are critical, as is back-up personnel in times of crisis. Having subject matter experts and IT professionals available with full replication of processes when family office employees are out of the office is critical to keep business operations running smoothly. With over 22,000 employees, SS&C understands and has successfully managed the challenges you are facing in your operations. We are here for you when you need our talent and expertise the most.
Download our "Five operational challenges facing the modern family office" whitepaper to learn more about the key operational challenges for family offices, which are even more salient during these unusual times.
Alternative Investments, Fund Administration