A recent survey by TKS Solutions revealed that 10% of hedge funds have considered switching administrators during the past 12 months due to issues stemming from timeliness and accuracy of partner and shareholder accounting reports.
"Based on feedback from our hedge fund customers," Ronald Kashden, President of TKS, said, "We discovered that many administrators were still struggling under the weight of convoluted spreadsheets.”
One particular vexing aspect of automating fund processing is the reality that every client is different and has unique reporting needs.
"We are advancing our software to address this through the use of user-defined reporting fields." Kashden said, "Now the user can create custom reporting fields for their clients that extend the database and the application’s reporting capabilities, which can be associated with investors, funds, or even transactions. Once created, the application is instantly aware of any of new fields and the relevant screens and reports are automatically adjusted to reflect these fields. By combining these fields with the built-in report writer, administrators can easily tailor reports to the needs of each client."