“A noteworthy special talent or quality.” And “a variable in a given situation that could have the most significant impact on the outcome.” Are some dictionary definitions for the term ‘X Factor’.
Why does this matter for a Family Office?
Most Family Offices could be a better version of themselves and provide greater added value to the family they serve. This would be seen in efficiency, risk management, effectiveness, responsiveness and a higher level of analytical services.
The variable that would facilitate this change for Family Offices is obvious – technology. But the Microsoft Excel and QuickBooks combination that many offices use aren’t the solution. Nor are the many point-based functional technology products that have been sold into the Family Office space – after being developed for fund managers, hedge funds, private equity, etc.
What Are Top-Ten SFO Needs/Focus?
Built by a Family Office for a Family Office: This is the X Factor
Eton Solutions solves the comprehensive needs of Family Offices:
- Integrated enterprise management system for the family office space
- Full suite of CRM, data aggregation, investment reporting, general ledger, and transaction initiation
- Proprietary process and role-based workflow functionality
- Cradle-to-grave transactional processing without touching the data
Key Benefits and Differentiators
- Created by a Family Office for Family Offices
- Where the design premise started with best practice business rules, process and workflow
- Granular, permissioned user access for optimization, transparency and accountability
- Designed to significantly reduce staffing and operating costs
- Built-in data aggregation and consolidated data approach
- System scalability
- Risk mitigation through integrated audit and compliance
- Effective collaboration platform
- Lower cost than a best-of-breed application/integration approach
Many family offices are trying to bring their infrastructure into the 21st century, but unfortunately, until now, the market hasn’t delivered a way to make that possible. Eton Solutions is a next generation, end-to-end platform built specifically to meet that objective. It has the ‘X Factor’.