Accusource, a provider of middle- and back-office operational services, has teamed with Canoe Intelligence, in a bid to bring ‘efficiency, speed and increased accuracy’ to the investment management industry.
Institutional investors and family offices manage complex portfolios that often include scores of alternative investments such as hedge funds, private equity and venture capital. As a result, these firms are inundated with thousands of email, web-based and PDF documents containing hundreds of thousands or millions of transaction, valuation and performance data points. Manually converting these critical, data-rich documents to productive digital formats costs investment firms as much as $4 million annually. Canoe’s technology automates the extraction and management of these data points and documents, allowing firms to refocus capital and human resources on business performance and growth.
“We’re excited to roll out this new service with Canoe Intelligence for a long-standing industry bottleneck,” says Ryan Kerry, CEO of Accusource. “Manual entry has plagued our clients for years with no solution in sight. Using the latest breakthroughs in technology and augmented by an experienced staff at Accusource, we’re aiming to eliminate manual entry!”
“At Canoe, our mission is to eliminate manual data entry and streamline operational processes for any firm dealing with alternative investments,” says Seth Brotman, Canoe CEO. “We’re pleased to partner with another industry-leading firm like Accusource to help more investment firms take advantage of the speed, accuracy, efficiency and control that is possible when deploying an automation solution like Canoe Intelligence.”
