Preparing for Launch
Implementing new software could be scary. Our clients, partners and prospects alike expend a considerable amount of energy vexing and preparing over system deployment and eventual adoption. It is understandable, and you do hear some horror stories out there. “$1mn and three years later, we’re still not up and running.” I’ve been told a handful of times.
The truth is, there is no ‘silver bullet’ that a solutions firm can utilize to ensure smooth and expedient system uptake. We do our best to lend a hand with industry best practice and sound project management, but the reality is much closer to a collaboration than many private equity firms might realize. This collaboration might seem obvious from our side–weekly calls, project charters, workplans and go-live. What is often overlooked is the extent to which collaboration within a client organization can have a noticeable impact on system adoption.
Because data management is the endgame at Preqin Solutions, we must address a significant number of private capital workflows: data collection, portfolio monitoring, valuation, exit planning, fund analysis, reporting etc. While the software will lead to automation and efficiencies within these channels, it also requires an honest review of how constituent teams will interact with the solution, and with each other, during and after the implementation.
Get the House in Order
Many of our most successful clients had taken the time to align on the flaws in their ‘data journey’ well in advance of contracting with Preqin Solutions. This effort not only helps us deliver concise and actionable project recommendations during scoping, but also facilitates the flow of data during the implementation and ensures that the new workflows ‘stick’ after the project is complete. Firms that can demonstrate true cross-functional alignment not only implement more quickly, but also demonstrate a more credible story of operational excellence to which their founders and LPs aspire.
Check out our client stories to see how they implemented our solutions and what benefits they reaped from the successful implementation.
Andrew Kehl currently manages the global sales & business development effort for Preqin Solutions and is based in New York. Andrew has helped to establish and implement the go-to-market strategy for Preqin’s Solutions division since 2015. Prior to Preqin Solutions, Andrew held leadership positions with Preqin’s North American data business. Prior to joining Preqin in 2012, Andrew held account management and research roles within Guidepoint Global, a primary research firm. He is a Chartered Alternative Investment Analyst.