Ontra has launched Ontra Atlas, an entity management solution designed specifically for private investment firms which aims to streamline the organisation and management of legal entities and workflows associated with firm and fund operations.
Atlas allows users to: consolidate and store entity data and associated documents in a single location; algorithmically generate structure charts to easily visualise entity ownership and relationships; track directors, officers, and authorised signatories to help ensure corporate actions are completed with appropriate authorisation; and manage internal and external access to information using role- and entity-based permissions.
Private equity firms spend significant time and resources managing the data, organisational charts, and documents related to legal entities. Information is often maintained manually through a maze of complex spreadsheets, structure charts, emails, and physical binders.
In a survey of 100 PE firms conducted by Ontra, 78% of respondents reported using general-purpose tools such as Microsoft Excel or PowerPoint to manage the data, organisational charts, and documents related to legal entities, leading to a higher risk of transaction delays, and providing investors, regulators, and counterparties with inaccurate information, and leading to incorrectly authorised corporate actions.
Ontra Atlas is the newest addition to Ontra’s Legal Operating System, an AI-enabled suite of solutions that digitally transforms mission-critical legal processes across the full fund lifecycle.
