Recently, Wall Street Journal PRO Private Equity asked a handful of professionals from the limited-partner and general-partner communities to share their insights on the changing nature of firm operations.
In the interview, they asked Rajat Duggal, a Partner at FFL Partners the following question:
What do you feel have been the biggest changes that have taken place among private-equity back offices over the past five years? He answered:
“As with all businesses, private equity has had to evolve in how we manage and analyze our data so that we leverage technology in a much more comprehensive way. We’ve had to move from spreadsheets and Quicken to manage our back office to implementing IT systems for better intelligence across the firm on multiple fronts. We’ve added a specialized CRM tool, DealCloud, to help us better manage how we interact with our key relationships and also how we manage our seed process for deal sourcing. In addition, we are in the process of deploying eFront to streamline our accounting systems and interactions with LPs. Both of these tools, built with a focus on private equity, will allow us to become more efficient and effective in how we run our business.”
To learn more about DealCloud’s specialized relationship management platform, click here.
To learn more about DealCloud’s clients, such as FFL Partners, click here.
To read the full article (made available exclusively to Wall Street Journal PRO Private Equity subscribers, click here.