Jason Morris, President
A common element about the hedge fund businesses across the world is that they tend to be very cognizant and proactive about the adoption of any new technology hitting the market. However, despite being technologically adept, the asset management industry is yet to find its way around the challenges such as changing market dynamics, regulatory pressures, and most importantly keeping pace with the latest technology vendors. With a large part of modern asset managers relying on bifurcated infrastructures that tend to be tediously complex and expensive, the cost pressures in hedge funds have reduced margins and caused asset managers around the globe to demand more for less from technology.
This is where Enfusion comes into the picture. Enfusion offers a multi-tenant, cloud-based platform that seamlessly incorporates multi-asset class solutions for the front, middle, and back office through a single data set with their outsourced fund services offering. By combining both products, Enfusion has made themselves indispensable to clients and a large contender in the technology and outsourced operations space. “Not only do you have a cohesive user experience from front-to-back office, but managers can also rely on our outsourced middle- and-back office services offering that literally works as an extension of their team. This ultimately cuts cost plus streamlines vendor relationships,” Jason Morris, President of Enfusion says. “Our clients get all their operations executed through one platform and one vendor with ease.”
Started as a development consulting firm for investment managers in 1997, Enfusion ultimately deployed their software offering in 2006. Witnessing the market shift to all things digital, the founders of the company (who are software developers by trade) played the long game and created the all-in-one cohesive solution(which at the time was a complete anomaly).
Enfusion’s solution can deal with some of the most difficult asset classes from a software perspective plus it is equipped with risk functionality and built-in compliance throughout. The launch of the firm’s OEMS offering, further cemented their place in the trading technology market place as they now provide over 400 broker algorithms and connect via FIX to over 250 brokers. Ideally, CIOs and portfolio managers prefer to monitor their portfolios in an easy and presentable format that drives quick investment decisions and orders to the market.
However, working within a bifurcated trading setup, this process can take up to several hours. Enfusion’s platform reduces the entire process to seconds and provides the data to the stakeholders in realtime. “We pride ourselves on enabling portfolio managers and CIOs to take their idea, and translate that into orders to be executed in the market as fast as possible,” adds Morris. While speed is important, given the wide variety of clients and their requirements, Enfusion’s platform offers an unparalleled flexibility and customization. The company also deploys a product consulting team along with installation, to work closely with the clients and provide them with an intuitive user experience.
Illustrating the solution’s pragmatic approach, Morrisre counts a case study of one such hedge fund. The client company had around five legacy core systems in place and sought Enfusion’s expertise to upgrade their old order management system. With Enfusion’s OEMS functionality and cloud-based platform, the client achieved a reduction of 60 percent in their operational costs and cut their overall operational risk tenfold.
Enfusion as a firm has over 20 years of industry experience and over 12 years since the inception of its software and outsourced fund services solution.
Because the multi-tenant product has one code-base, the software has a fresh release every week, equipped with the latest enhanced and improved features. Being highly abreast of their client and partner’s optimization suggestions, Enfusion has laid a promising roadmap ahead to commence their future endeavors. “Because of the way we built our product (i.e. one code base and in the cloud) there are limitless enhancement possibilities. We partner with our clients and base our development pipeline on their needs while also paying close attention to regulatory changes and general industry trends. Our goal is to always provide a cohesive user experience from front-to-back office with white glove client service,” concludes Morris.