Picture this: You’ve just arrived at your office to start your workday. You log in to your investment accounting and reporting solution – or maybe it’s multiple programs and a handful of spreadsheets. What do you see?
Is all your investment data aggregated in a way that’s easy to view in one place? Is that data reconciled, validated, and ready to report on? Do you have visibility into your performance attribution, compliance policy violations, daily accounting values, or exposures?
If you answered “no” to any one of these questions, then it may be a sign your current system isn’t working for you. You may be missing out on essential functionality because your outdated solution isn’t keeping up with a changing investment world. What else are you missing out on?
Ensuring you’ve gathered all your investment data across multiple sources – including custody, external managers, etc. – continues to be a difficult task for many treasury teams. This is exacerbated as your portfolio grows and with the addition of new asset classes. Modern solutions do the heavy lifting for you by automating the process with the ability to pull in data regardless of location or format. This saves considerable time and reduces the risk of error from manual aggregation.
Once you have your data, it’s not useful to you if it hasn’t been reconciled and validated. Once again, with legacy solutions, this process is not supported through automation and instead remains a time-consuming manual task that introduces the possibility of errors. In addition to automatically aggregating your data, modern solutions also take on the reconciliation step, leaving you with a single source of data you can trust to be accurate and complete. With these crucial steps out of the way, you can get right to work analyzing your data instead of fighting with it.
If there’s one area that really shows what you’re missing with outdated software, it’s the month-end close process. If this is something you dread every time, takes days or weeks even to get through, and generally makes for long hours and stressful days, it’s time to move on to something better. With Clearwater, journal entries can be configured to match your specific chart of accounts and general ledger codes to automatically produce a file on day one and facilitate an easy upload into your general ledger systems.
Which version of your current software are you running? How much IT work is required to keep it up and running? With an installed solution, upgrading your software to the latest version can be costly and add strain on your IT department. Modern solutions work differently. As a single instance multi-tenant SaaS solution, Clearwater is already 10 years ahead of what some solutions consider the “latest technology.” This means every time you log on, you can be assured you have the latest version of the software, at no interruption to your daily routine. Nothing to install, no servers to maintain or licensing fees to handle. Clearwater requires a single implementation process, and as the solution updates, you don’t have to install anything new – just log in and enjoy the latest features. SaaS solutions encourage innovation, so technology-first companies like Clearwater can produce continual updates that benefit all users. Clearwater’s clients help shape the future of the product – working with a sophisticated network of users around the world gives us unmatched insight into best practices and the needs of top institutional investors. We take client feedback and use that to enhance the solution. Those enhancements are then available to all users, thanks to our SaaS model.
Looking at your current process, you may have a system that can handle your disclosure statements and accounting book of record, but you have to use a different system to actually monitor your portfolio. Often, these systems aren’t integrated, so you end up working separately out of both. As your portfolio grows and you need more functionality, you may continue to add systems to get complete coverage.
Clearwater is built as a complete solution to handle investment accounting, analytics, and reporting. It’s also designed to integrate with trading systems, custody banks, and third-party data sources ensuring you have the data you need and the tools to monitor and report on that data, plus automated accounting to make your life easier.
Over the past several years, hundreds of your treasury peers have successfully moved on from legacy systems, life in spreadsheets, and an over-reliance on custodians by switching to Clearwater.
Don’t put up with an incomplete system longer than you must. It’s time to make a switch to a complete solution. Contact a Clearwater solution expert to see what you’ve been missing.