CHICAGO, March 7, 2017 /PRNewswire/ -- Backstop Solutions Group, a leading provider of cloud-based productivity solutions for hedge funds, funds of funds, pensions, endowments, private equity firms, consultants and family offices, today announced the achievement of several significant milestones in 2016, as well as its priority areas of focus for the first half of 2017. Backstop's focus areas for 2017 reflect changing industry demands and trends that are top-of-mind across the alternative investment industry.
"We could not be more proud of the goals we have accomplished in 2016. The platinum-tier talent we have attracted and the prestigious industry awards we have won are testaments to our commitment to innovation in technology and client service, as well as our unparalleled understanding of this industry's unique needs," said Clint Coghill, founder and CEO of Backstop. "The more time our clients can spend on revenue-generating activities, the better we are doing our job. We're excited to build off this tremendous success with further improvements and innovations to the Backstop suite."
Backstop began the new year strong with two award accomplishments under its belt: Backstop was shortlisted in nine categories in the highly regarded 2017 HFM US Hedge Fund Technology Awards and took home the top prize for Best CRM System (a three-year winning streak) and Best Risk Management Product. Backstop was also shortlisted for three categories in the 2017 Private Asset Management Awards, including Best Cyber Security Solution, Best Family Office Service Provider and Best Outsourced CIO Solution.
In 2016, Backstop was proud to share in the following milestones:
- The addition of 10 executives to its leadership team and advisory board including: Adam Hoit, Vice President of Product Management; Steve Au, Director of Institutional Sales, APAC; Jeffrey Axelrod, Chief Technology Officer; Tony Lai, Vice President of Relationship Management; Beth Hayden, Senior Vice President of People and Development; Deanne Folk, Vice President of Knowledge Management; John Calzaretta, Vice President of Global Accounts and Partnerships; Stephen Vondrak, Vice President of Institutional Sales and East Region Sales Manager; Tao Huang, Advisory Board Member; and Maryling Yu, Vice President of Marketing
- The addition of a seasoned industry veteran to Backstop's Board of Directors, Tao Huang, former CTO of Morningstar, reflecting Backstop's commitment to technology innovation for clients
- The synergistic acquisition of Cogency, Inc., which enhanced the capabilities of Backstop Accounting and received record interest and launches in 2016
- The addition of 99 new clients
- The release of 33 new features across Backstop's comprehensive product suite, which includes six total offerings for the entire alternative investment pipeline
New launches scheduled for Q1 2017 will focus on the themes of ease of use, time-savings, productivity enhancements, security, efficiency enhancements, reliability, value-adds and connectivity. The updates will be designed to enhance the Backstop user experience for all users, as well as specific user groups like those who are more investor- or client-facing.
Some highlights from the 12 updates scheduled to launch in Q1 2017 include:
- User interface updates on report building tools and global navigation
- Client-configurable customization of Backstop's mass document uploading capability
- Single sign-on across the Backstop suite
- Tighter integration between the Backstop CRM and the Backstop Portal
- More tailored performance analytics capable of monthly and quarterly intervals
"Backstop's areas of focus in 2017 will set the agenda for a strong year ahead," continued Coghill. "At Backstop, we know and understand the biggest challenges our clients in the alternative investment industry face: their time comes at a premium, and the complexity of their data adds risk to their operations. Upstream activities affect what happens downstream, so any solution must take that into account. In particular, standalone solutions do not work well in this industry. Backstop has already helped hundreds of the world's leading alternative investment firms, totaling more than $2.5 trillion in AUM, achieve operational excellence and gain greater business agility."
About Backstop Solutions Group
Backstop Solutions Group is a leading provider of cloud-based productivity solutions for hedge funds, funds of funds, pensions, endowments, private equity firms, consultants and family offices. Founded in 2003, Backstop created the industry's first web-based software that empowers firms in the alternative investment management industry to adapt to change and overcome complex issues. With offices across the United States and in Europe and Asia, Backstop now serves over 700 firms worldwide, making it one of the fastest growing software providers in the financial services industry. For more information, visit www.backstopsolutions.com. Connect with us on LinkedIn.
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SOURCE Backstop Solutions Group