Backstop Launches New Product Enhancements
Backstop Solutions Group, a provider of cloud-based productivity solutions for consultants, OCIOs, pensions, private equity firms and other institutional investment firms, announced the rollout of five new product enhancements to the Backstop Suite, which improve users' ability to retrieve data faster, generate more robust metrics, and improve workflow. The products were added to the Backstop Suite in 2017 and are being announced together after seeing high levels of adoption and success for users.
Backstop's suite of cloud-based productivity solutions helps institutional investment firms maximize their time by automating middle-and-back office processes, allowing team members to focus on revenue-generating activities.
"Our product releases across the Backstop Suite in 2017 were focused on helping clients get more out of every minute," said Adam Hoit, vice president of product at Backstop. "In 2018, we're focused on delivering more enhancements than ever to help our clients achieve their goals and save thousands of dollars via the efficiency these solutions deliver. As we prioritize themes of greater integration, faster navigation, and more automation, we are energized by the positive outcomes we are enabling across the industry."
Effective immediately, Backstop clients can take advantage of:
- A Robust REST API Library: Users can seamlessly integrate Backstop with other applications and data warehouses via Backstop's library of APIs, allowing users to create integrations to retrieve data faster, get more data in a single response, and access the full Backstop data model with all standard and custom fields, capitalizing on an extensive range of features.
- SSO (Single Sign-On): Users are authenticated through an external system, increasing the system administrator's ability to control access (a user can be added or removed to the entire system at once, instead of application by application). Users only have one password to remember, streamlining daily workflow.
- Portal Notice Acknowledgment: Users can now create pop-up messaging to display content of any type to clients, thus increasing visibility and direct traffic to targeted content, providing instant feedback from end users, and generating more robust metrics.
- Share Class & Series Enhancements: Users now have the ability to exercise increased data control when managing obsolete share classes and series: filter by products, navigate to pre-filtered lists from other related pages, and show or hide closed share classes, enhancing capital workflow.
- PME Benchmarking: This tool provides allocators with the most groundbreaking, defensible, and mathematically rigorous public market equivalent capabilities available today.
Josh Schoedler, CFA, CPA, Performance Analyst at DUMAC, Inc. has been using Backstop's PME functionaility, and says about his experience, "Backstop's PME functionality was super easy to understand and we were able to fit it into our process right away. With this new functionality, Backstop has enabled us to further unify our operations platform, thereby saving us a significant amount of time, energy, and operating capital."
This rollout comes on the back of an outstanding 2017, a year during which Backstop achieved success in a variety of areas, including:
- New hires: Backstop welcomed two new members to the executive team: John Pettit, Chief Technology Officer and Greg Fujii, Vice President, Professional Services.
- New POV: Backstop launched a new firm-wide point of view that 'starts with why' and has crystallized Backstop's client service vision into one manifesto: "Because every minute matters."
- Awards: Backstop won six key industry awards including:
- Best risk management software & Best CRM system - HFM US Technology Awards
- Most innovative technology provider - HFM European Hedge Fund Services Awards
- Best CRM firm - HFM European Technology Awards
- Most innovative technology provider - HFM US Hedge Fund Services Awards
- Best portfolio management software - HFM Asia Hedge Fund Services Awards
- Backstop was shortlisted for four additional awards, reflecting its commitment to excellence in innovation, service, and operational efficiency.
- Events: Backstop hosted several successful events for clients and the industry, including Backstop's annual user conference, which for the first time was open to the industry and featured trend-focused panel sessions; and two women-focused events (Chicago and New York) which featured industry panels comprised of female industry leaders and journalists.
"We couldn't be prouder of what we accomplished in 2017," said Clint Coghill, CEO of Backstop. "Our continued focus on excellence for clients is reflected by our numerous award wins and continued ability to attract world-class talent to our senior team. We are starting 2018 strong with the positive feedback we've received on this new rollout of product features, and we look forward to integrating our refreshed point of view into every aspect of client service."