Data analytics should be top priority for service providers

by Matthias Plötz 10 August 2022

According to a new report, data analytics will be the top priority for service providers going forward, given the increasing demand for high quality data and reports.

EY’s How can service providers maintain growth in an unprecedented global environment? report suggests off the shelf tech solutions won’t be able to meet GPs’ data needs when it comes to meeting LP reporting demands.

As private capital funds continue their tech system upgrades, LPs are increasingly eager to access detailed financial and non-financial portfolio company data in real time.

To effectively support GPs with these demands, EY believes service providers should be one step ahead of GPs in anticipating their needs, rather than simply reacting to issues and requests.

Manual vs digital

As EY acknowledges, the industry heavily relies on Excel, but LPs will continue to request data in their own formats. To handle this, a move towards automated processes while retaining a high degree of customisation and transparency will be beneficial to the GP and LP relationship going forward.

GP / service provider relationships

Additionally, EY’s report said GPs are often held back from growth opportunities, due to service providers’ poor understanding of their local jurisdictional needs where communication is vital. As such, EY advises service providers to improve efficiency and the overall relationship by being more transparent with their GP clients about their processes.

Categories: NewsFundraising & fund structuringData roomOutsourcingBanksFund administrationIT & cyber securityLegal & compliance advisoryTax advisorsRegs & ComplianceCompliance softwareReporting & Transparency Accounting standardsReporting softwareTemplatesTechnologyCRMCompliance softwareCyber securityData roomMarketing, comms, PRReporting portalReporting softwareTech providers

27 November 2023

Profile: Martim Avillez, Limerston Capital

The COO and founding partner discusses setting up the firm’s operations, combining them with his investment duties and navigating difficult times

28 November 2023

Luxembourg’s private debt industry expands

According to a KPMG survey, AUM grew by 51% during the last year; changes in fund vehicles but LP base largely unchanged

28 November 2023

Bite Investments launches wealth management feature

Company’s platform to connect asset managers with wealth managers to facilitate fundraising

28 November 2023

Carbon Accounting Alliance launches

Group of 35 organisations represents emissions of 24,000 companies

28 November 2023

Moving surety from obscurity

Surety could be an overlooked, low cost liquidity solution in a time of portfolio optimisation

27 November 2023

Home game Sweden

A change in tax legislation and ethical considerations are leading Swedish PE firms to onshore their funds