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How to Choose the Right System for Your Fund

How to Choose the Right System for Your Fund

30 Questions and Points to Consider

1. SUPPORT & SERVICE
- How quickly does the support team respond to client inquiries?
- Can existing clients vouch for the support team’s response time?
- What kind of experience and expertise does the service and support team possess?
2. SYSTEM CUSTOMIZATION & CONFIGURATION
- Can the system be tailored to fit the unique requirements of the organization?
- How simple or complex is it to implement configurations within the system? Is custom work required?
3. COMPLIANCE & REGULATORY REQUIREMENTS
- Is the vendor able to handle the necessary compliance rules to meet investor and regulatory demands?
- Does the system offer the required analytics and views for effective and efficient execution?
4. SYSTEM EFFICIENCY & ACCESSIBILITY
- How efficient is the system in terms of user interactions (e.g., number of clicks to process an order)?
- Does the technology provide seamless access and functionality across various devices, including the ability to execute trades remotely?
5. RELIABILITY & RESILIENCE
- What is the vendor’s history concerning system reliability and uptime?
- What are the vendor’s plans for business continuity and crisis management? Have they been recently reviewed and tested?
- How resilient is the vendor’s infrastructure in case of significant disruptions ?
6. SECURITY & CERTIFICATION
- Does the vendor hold an ISO certification, ensuring a commitment to security and reducing cyber threat risks?
- How secure is the system’s data storage and transmission, and what measures are in place to protect sensitive information?
7. ONBOARDING & IMPLEMENTATION
- What kind of onboarding support can the vendor provide? Are they equipped with the necessary resources, methodology, and technology for a smooth transition?
- Can the vendor offer a detailed onboarding timeline, including contingency plans for potential delays?
- Is there a transparent method to monitor implementation progress?
- What costs are associated with the onboarding process, and how do they impact the total cost of ownership?
8. INTEGRATION & SCALABILITY
- How easily can the system be integrated with existing software and tools used by the organization?
- Can the system scale to accommodate growth and changes in the organization’s needs?
9. TRAINING, UPDATES, & COMMUNICATION
- What kind of training and educational resources does the vendor provide to help users get acquainted with the system?
- How often does the vendor release updates, and how are these updates communicated to clients?
10. REPORTING, PRICING, & SUCCESS STORIES
- What kind of reporting capabilities does the system offer, and can they be customized?
- Is the vendor’s pricing structure transparent and easy to understand, without hidden fees?
- Can the vendor provide case studies or success stories from clients with similar requirements?