CenDat Solutions’ new integration with Sage Intacct® provides private equity CFOs and Controllers with a new option for fund accounting and reporting, empowering them with fast, flexible, and accurate data management and reporting tools.
WESTLAKE VILLAGE, CA, February 20, 2020 /24-7PressRelease/ — CenDat Solutions LLC, a provider of fund data management solutions for Private Equity, today announced a new integration with Sage Intacct, a solution available in Sage Business Cloud. The new integration combines Sage Intacct’s leading cloud-based accounting platform with CenDat Solution LLC’s fund data management solution. The integration will provide private equity CFOs and controllers with a powerful and flexible fund accounting and reporting system.
This new partnership between CenDat and Sage will provide private equity firms with a fully customizable end-to-end solution and eliminate many challenges currently faced by finance teams. With this joint integration, customers will be able to:
Automatically allocate management fees, capital calls and distributions, net investment income, and more, down to the investor level.
Leverage powerful reporting capabilities – ensuring compliance with standard ILPA formats and quickly generate call and distribution notices for partners within minutes.
Expedite the quarter-end close and distribution processes with flexible and automated waterfalls and hurdle calculations.
Dynamically link Excel® spreadsheets to a centralized cloud application, powered by Jedox, allowing users to simply change a ‘point of view’ (dates, partner, etc…) and immediately view updated information.
Flexible reporting tools allow customers to build reports to any format needed and expand the platform’s functionality to countless new requirements.
”In my prior roles in private equity and other industries, it was clear that spreadsheets are a big challenge when it comes to data management, but despite the drawbacks, spreadsheets are here to stay,” said Gary Joyce, former fund CFO and co-founder of CenDat Solutions. “We founded CenDat Solutions to provide Private Equity firms powerful tools and solutions to efficiently manage the back office accounting and reporting processes – and to automate the integration with the large numbers of manually prepared spreadsheets. Our new partnership with Sage Intacct will increase customer efficiency dramatically by removing the burden of complex investor and asset data tracking on finance teams.”
“CenDat brings additional flexibility for Private Equity firms looking to streamline their back-office functions,” said Eileen Wiens, Vice President of Business Development for Sage Intacct. “The integration with CenDat leverages the power and flexibility of Sage Intacct with the data management capabilities of CenDat’s applications, providing Private Equity CFO’s and Controllers with a single unified platform for their fund accounting and data needs.”
CenDat Solutions, LLC was founded with the goal of providing private equity companies advanced data management and reporting capabilities through a highly flexible and dynamic solution including powerful reporting via a fully integrated Excel® add-in, web-based applications, and mobile options.
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