State-of-the-art Accounting Systems
Our fully integrated, state-of-the-art, fund accounting systems accommodate the specialized needs of the diverse fund types we work with. At Woodfield we do not try to fit clients in a “one size fits all” type of model but instead use different systems depending on whether a fund is open or closed ended.
For closed ended funds we employ systems provided eFront – a FinTech 100 company that provides software to major financial institutions and fund managers around the world. This application is built on a technology platform that leverages the latest innovations and designs to deliver robust, scalable and user friendly applications. The platform is adaptable and has the ability to meet the needs of the largest, most sophisticated global fund managers but is also appropriate for use by smaller investment funds.
With eFront, we are able to offer our clients a fully integrated solution for investor management, portfolio management, portfolio monitoring and fund management. The system enables us to automate difficult and often error-prone tasks, such as issuing capital call notices, managing investor allocations, computing complex waterfall calculations and closing financial periods. eFront’s portfolio analysis capabilities allow for slicing and dicing portfolio data in a multitude of ways to create portfolio reports that are customized to the preferences of each fund manager.
The Investment Café
When communicating with investors, managers need to securely deliver accurate, detailed, and current data. Investor portals are becoming the preferred means of receiving and interacting with this data for many investors, and with growing demand from LPs for more information an advanced state of the art portal is becoming a necessity.
eFront Investment Café addresses the most urgent challenges in Investor Relationship Management today including brand promotion and improved communication flow. It also helps maintain accuracy, simplifies the communication process and includes built in safeguards to reduce or prevent errors.
For open ended funds, we use software from Linedata Systems, a major provider of financial accounting software with more than 1,000 employees across the globe. The choice of some of the largest hedge funds worldwide, Linedata Services has been recognized by HFM Week as a Best Vendor of the Year for Third-Party Accounting and Reporting Systems.
- Financial accounting for all types of securities, including listed and OTC equities, options, fixed income securities, swaps, futures, complex OTC derivative products and private securities
- Multi-currency portfolio management
- Partner allocations
- Fee calculations
- Robust counterparty risk reporting functionality
Even if your fund has a complex structure, intricate investment strategies, side pockets, or multi-level ownership structures, Woodfield’s system can handle your accounting and reports with ease. Rest assured that the accounting for your fund will be done accurately and efficiently.
Processes, Procedures and Checklists
Exceptional people and good systems must be accompanied by thorough procedures to insure quality control. Woodfield’s process-oriented approach is prevalent in every aspect of our operations. These processes serve to help us both maximize efficiency and to ensure that we deliver quality, consistent results from every facet of our organization.
We create written procedures and descriptions for each of our clients that are based on the individual characteristics of that client. Our staff works on your fund according to its unique procedures, updating the procedures as changes occur and documenting client interactions.
From post-completion checklists to rotating multi-level review processes, these systems set a new industry standard for quality assurance. Built off of successful practices from major public accounting firms, we ask our employees to take extra steps to ensure gold-standard work for every client.
While these procedures might take some extra effort, it’s that extra effort that we believe sets us a notch above the rest. The result: consistent, correct, timely and smoothly delivered reports, statements and investor communications—month after month, year after year.
Woodfield’s operational processes and controls are described and audited on an annual basis in our SOC 1 Type 2 Report which is conducted by a nationally recognized public accounting firm.