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Startup Private Equity group achieves startup success by focusing on its core business
Challenge
Facing high valuations, growing competition and mounting pressure from limited partners, startup private equity firms are seeking nontraditional strategies to achieve success. For many, this has meant a heightened focus on operational performance, specifically cost reduction initiatives.
As a result, when two former executives at a leading hedge fund decided to start their own company, they were faced with many decisions, with a critical decision on whether to build an in-house IT infrastructure, or to simply use software as a service. Furthermore, the new startup had just purchased proprietary software that performs accounting and reporting functions specific to the hedge fund industry. The IT requirements in this case study consisted of a complete outsourcing of IT functions and services including the availability of MS Office Suite for five users, setup and configuration of newly acquired hedge fund software and backup of all data to a secondary data center with real time replication.
Penta Solution
Penta’s solution consisted of the setup of a dedicated Citrix server in its Geneva data center with hourly replication to a secondary mirrored server in its Zurich data center. This extra measure of security ensured immediate availability of all programs and data in the event of a disaster. The server was installed with Microsoft Exchange, Office Professional and Enterprise Blackberry. On behalf of their client, Penta also worked with the hedge fund software vendor to install the product on its network server.
Results
Entire dual-site IT infrastructure was deployed within one month, freeing up time for other startup functions. Hedge fund software installed on network server allowed remote, secured access to client portfolios from any location enabling the company executives to work on their clients portfolios even before their office had officially opened for business.
Additionally, by saving 50% of upfront IT costs, the company managed to hire an additional analyst – a position that was not budgeted until the second year of operations. Finally, Penta became the liaison between the client and the hedge fund software vendor, taking care of renewals, upgrades and maintenance.
Lessons Learned
Not only can Penta bring productivity and cost reduction for its clients through its ASP offerings, it can also act as a liaison between clients and their third-party software vendors. This new level of peace-of-mind allows companies to focus on their core business and leave IT matters in the hands of a trusted partner, Penta Consulting.
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"They were faced with many financial decisions, with a critical decision on whether to build an IT infrastructure, or to simply use software as a service."
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