Building and managing your portfolio of investments can be a tedious process. It makes asset management disorganized and time-consuming and fails to offer transparency and insights. Maintaining spreadsheets and on-premise legacy solutions can enable you to track your assets manually.
However, integrating various systems can be costly and affect your ability to serve your customers. Thankfully due to the strides made in software and infrastructure in the past decade, tackling this integration problem is now easier than ever.
If you find yourself in still waters, cloud-based investment management software might be just what you need. By switching to cloud-based investment management software, businesses can analyze and keep track of their asset data in real time.
Asset management firms or the Best Portfolio Management Company in India can leverage cloud-based investment management software’s physical asset monitoring capabilities to assess their current assets and manage them from practically anywhere in the world.
Let us look at the basics of asset management software and how it can streamline your investment management.
What Is Cloud-Based Investment Management Software?
Cloud-based investment management software is a software solution that streamlines the data handling of a company’s physical assets. It enables the server to run programs and store data without software installation.
A cloud-based portfolio management software empowers organizations to manage cloud assets with centralized data storage. This data can be accessed on any device connected to the internet with additional data security.
Cloud-based investment portfolio management software maintains a secure cloud backup of all corporate asset details.
A reliable cloud-based investment management software offers scalable, auditable, and easily accessible IT management, allowing your organization to gain visibility, insights, and control over the IT hardware and subscriptions. It simplifies the identification of shadow IT, uncovering cost-saving opportunities, and streamlines the distribution of assets throughout an organization.
Seven Benefits Of Cloud-Based Portfolio Management Software
Cloud-based investment management software offers investment management firms unique advantages. Let us look at the top seven benefits of investment management software:
- Computing Power
Portfolio and risk managers can harness the unique computing power of cloud deployments to enhance their analytics and reporting capabilities. Cloud-based investment management software facilitates the updation and enhancement of containerized applications, giving quick access to innovation.
Additionally, they enable firms to stay atop fast-moving regulations and market-standard tools to ensure your business continuity plans align with the regulatory requirements.
- Scalability
Software scalability is a top priority for everyone – be it an independent trader or an investment firm of any size. Cloud-based investment management software is robust to accommodate your growing portfolio, relationships, investor base, date, and scale it for a mass market.
- Cost Effective Deployment Options
For CEOs and CTOs, cloud-based investment management software reduces the total cost of ownership, maximizing the value of cloud solutions. Cloud-based solutions can be used immediately after paying the subscription fee, eliminating the need for a higher upfront investment in acquiring and implementing an on-premise investment management solution.
Additionally, cloud-based solutions help sort and organize portfolios on a unified platform. It makes accessing and sifting through them a cakewalk.
- Organization-Wide Secure Access
Cloud-based investment management software, such as Ridgeline, offers easy and secure access to solutions. It equips portfolio managers with relevant data and computing power paving the way for innovative solutions.
- Enhanced Decision Making
Timely access to data via reports and dashboards enables investment managers to make informed decisions. It allows users to identify gaps in investment and track the performance of various factors, such as the debt-equity ratio, allowing them to optimize their investment plans.
Firms get access to daily and monthly price updates of mutual funds, bonds, and stocks.
- Improved Risk Management
Cloud-based investment management software utilizes real-time asset reporting and diverse risk models to spot assets prone to risks or low returns. Cloud-based solutions allow users to mitigate risks by balancing investments safely.
- Third-party Integrations
Suppose your organization uses multiple software tools to support various aspects of your operations. In that case, integrating your investment management software with other devices like online accounting software can streamline the data exchange between these systems, helping you save time making redundant date entries. Additionally, it reduces the chances of possible errors associated with manual data entry.
Ridgeline – One-Stop Solution For All Your Investment Management Woes
Ridgeline is an industry cloud platform offering investment management firms unparalleled integration, efficiency, security, and possibilities.
An industry cloud is a purpose-built system made to support the operational needs of a single, sophisticated industry.
The leading industry cloud platform for investment management, Ridgeline, speaks the native language of its users fluently. It crafts data models for the investment management industry’s needs, upscaling user experiences.
Ridgeline curates user experiences designed for investment management-specific workflows while ensuring all core applications work harmoniously across a typical architecture.
Ridgeline is not just the primary system of record for asset management but offers unique tools to turn data into rich insights to enhance decision-making throughout the organization.
A one-stop solution to tedious investment management, the Ridgeline platform is built around the premise that a single, unified platform serving as a firmwide book of record is crucial to enhance modern investment management.
At its core, Ridgeline is a double-entry journal accounting system that can reconcile positions, trades, and cash activity daily with the custodian. Ridgeline calculates performance attribution using the same data journalized by the accounting system.
In addition, every module on the platform broadcasts internal updates. The critical point is that every transaction is processed once, with the resulting change available to those functions that need it.
Ridgeline Features
- Cloud Native
Ridgeline delivers flexible and future-proof public cloud architecture, a game-changer from dated legacy technology.
- Single Source of Truth
Upscale your business by leveraging Ridgeline’s source of accurate, real-time data integration across the front, middle, and back offices.
- Security-First
Security and data protection is the foundation of every decision we make.
The Bottom Line
Investment management has been around in the form of on-premises applications. However, with the advancement in technology, there has been a significant shift in availing cloud storage. As a result, cloud-based asset management software has become a staple for most industry leaders.
Choosing the right cloud-based asset management software would be best to make your business agile, productive, efficient, and ready for the future.
Have more questions about what a move to the cloud would look like for your business? We’re experts in helping investment management firms understand and experience the benefits of the cloud. Feel free to drop us a line at hello@ridgelineapps.com to contact our team.
