Perfona PMS: Not your Grandma's Portfolio Accounting System

A comparison against Advent Geneva, FIS VPM, EZE Tradar and other legacy 800 pound gorillas (800PG)

Technology now is almost unrecognizable from what it was two decades ago. Computers have evolved from 8-bit systems running on bulky desktops to pocket-sized touch screens brandishing artificial intelligence. For the same reason professionals don’t run Windows 95, there is a modern alternative to Advent Geneva, VPM, Tradar and other legacy 800 pound gorillas in the portfolio accounting world, and its name is Perfona. Perfona utilizes the latest modern technology, as opposed to the 20-30 year old 800PG systems running on legacy technology. Perfona has weekly updates that constantly add new functionality and require no effort from the user, as opposed to Advent Geneva, VPM and the likes, receiving yearly updates that not only add little functionality, but have a laborious upgrade process. Perfona addresses some of the biggest flaws in the legacy software; including design, difficulty/expense of use, and a lack of features.

The most fundamental difference in Perfona is how it is designed, making it an easier and less expensive alternative to Advent Geneva and VPM. Perfona is entirely web-based, allowing users to access it through a browser without installing a bulky application such as Advent Geneva. This allows a firm using Perfona to let any number of employees simultaneously view and edit the latest data in-office, off-premises, or on mobile with no extra effort or cost. Similarly, Perfona is fully serviced by OpEff, requiring no in house set-up nor maintenance and is SaaS based, utilizing high security cloud computing infrastructure. Advent Geneva and other systems often demand several in-house servers requiring a costly set-up and maintenance. This contributes to those 800PG systems’ significantly higher TCO, further exacerbated by in-house IT resources, personnel time commitment, and even multiple 3rd party services all required for operation. Perfona has not only a lower TCO, but a lower price point as well. The underlying technology Perfona runs on makes it a much easier and lower cost choice compared to Advent Geneva, VPM, Tradar and others.

Due to the more advanced technology Perfona runs on, it is able to easily add a growing list of significant features that make it an upgrade from Geneva, VPM and other legacy systems. Perfona’s added functionalities reduce user reliance on 3rd party applications. Such features include investor management, a CRM system, waterfall calculator, research management, reconciliation, data warehouse and a tax module, whereas Geneva and VPM lack some if not all of these modules. Perfona’s investor management system allows funds to understand their client demographics and where they sell most effectively. Users can track the liquidity schedule attached to various share classes and see how different investors behave across various client types. This data reporting seamlessly feeds into Perfona’s CRM capabilities. Users can track organizations, contacts, LPA agreements, investor lots, and client participation into funds all in one place. Similarly, Perfona’s UI is not only more intuitive than the data entry reliant Advent Geneva, VPM and Tradar, but uses advanced frontend tools to provide analytics such as charts, graphs, and tables on portfolios as well as investors. Perhaps most important to a firm’s clients and their investors, Perfona contains a built-in waterfall calculator with an automated reconciliation. It operates on an advanced allocation engine utilizing a neural network based graph model to automatically recognize underlining relationships within funds. This offers an easier method of verifying fund admin's P&L allocations and fee calculations. Additionally, a firm using Perfona can define teams of portfolio managers and employees. Perfona’s numerous extra features make it a better choice than Advent Geneva and other 800PG systems. Perfona eliminates the need to use disparate software systems that are costly in either employee time or outside services.

Perfona is superior to Advent Geneva, VPM, Tradar and other 800PG systems as a PMS because it is not only less expensive and easier to use, but it also offers significantly more functionality. Perfona requires zero in-house infrastructure, doesn’t require in-house resources/employees, and is entirely cloud and web-based. It has many more features, including investor management, a CRM, and a waterfall calculator. If a user requires a feature not currently present in Perfona, OpEff will custom program any desired functionality. OpEff will also outsource back-office processes including reconciliations and IT services. This is a level of customer attention not shown by older legacy firms. Moreover, Perfona can integrate with 3rd party applications a user already has or wants. Perfona is the latest in portfolio accounting technology and gets better with every update each week, all making Perfona an excellent alternative to Advent Geneva and other 800PG systems.

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Feature Comparison of Perfona and the 800PG Systems

Feature Perfona Advent Geneva, FIS VPM and Other Legacy Systems
True Web based technology YES NO
Month-end Period Closing YES SOME
Derivatives Support YES SOME
Equities and Bonds YES YES
Legal Entity Allocations YES NO
Tax Lot Accounting YES YES
Realtime General Ledger YES SOME
Pricing/Valuation YES YES
Settle/Trade Date YES SOME
Chart of Accounts YES YES
Custom Security Master YES SOME
Portfolio Management
Single System for Front, Middle and Back Office YES NO
Order Management System YES NO
Portfolio Dashboards YES NO
Block Trade Allocations YES NO
Trade Blotter YES NO
Compliance YES NO
Portfolio Rebalancer YES NO
Research Management YES NO
Investor Management
Waterfall Allocations YES NO (Separate Products)
Tracking of LPs YES NO
Investor Statements YES NO
Private Equity Module YES NO
Custom Scripted Waterfalls YES NO
Investor Statements YES NO
Investor Portal YES NO
Investor Liquidity Projections YES NO
Warehouse & Automation
Data Warehouse YES NO
Third Party Integration YES NO
Fund Admin Data YES NO
Reconciliation Tool YES NO
Data Room YES NO
Bulk Uploads YES YES
Shared and Dedicated Tenancy YES NO
True Cloud YES NO
Mobile Support YES NO
Scalability YES SOME
Business Intelligence YES NO
Customized Pretty Reports YES SOME
Fully Managed Service YES NO
Outsourced back office support YES NO
Monthend Recs to Fund Admin YES NO
Outsourced IT/Programming YES NO

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