| Overview A top tier private equity firm needed to automate quarterly reporting of financial and tax information mailed out to 500 limited partners, in order to increase efficiency, cut costs, reduce headaches, and to go paperless in accordance with the green initiatives of certain limited partners. With a report automation solution from Woodmark, all documents are now emailed and uploaded to their limited partner web portal. This saves $500,000 per year by cutting FedEx costs and by freeing up the staff to handle a twofold increase in funds under management without increasing headcount. Woodmark Solution Woodmark has worked with the management at this private equity firm since 1991. This includes salvaging the limited partner web portal that was initially budgeted to cost $350K but was run up to $700K by another consulting firm, which failed to operate properly until Woodmark debugged the code and developed an effective content management system on their intranet.
Because of their responsiveness, work ethic and experience with Microsoft .NET development and Crystal Reports, Woodmark was tapped to automate the firm’s quarterly reporting of income statements, balance sheets, capital accounts statements, and investment summaries. This effort was previously done using Microsoft Word & Excel, was performed by a small number of people, and lacked the consistency needed. The process was changed to be a collaborative effort between the investment & financial staff. These reports are now produced by the push of a button and posted to the limited partner web portal. ROI |