In February 2015, Cedric Nanni, then 44 years old, had an idea and a wish. For the last 15 years he had worked as a computer scientist in the funds industry sector in Luxembourg. His idea: to make the life of the fund managers, management companies, service providers, and other fund industry players easier. How to do that?
Enter April Software to Help Fund Industry Players
Strong of his experience, Nanni decides to start his own business and creates April Software. Its aim – to give fund industry players an easy access to the data from fund administrators. The data they get access to is uniformed, enriched and structured in an automatized way thanks to the software. This put an end to the manual and time-consuming data management. The fund industry players can now (finally) focus on their core business.
Automation to Erase the Operational Risks
In the fund industry, there are plenty of file formats (Excel, CSV, XML, etc.). This trend is due to a lack of standards and an abundance of regulations (more and more regulations for ManCos to respect). The result of this trend is that an increasing part of the employees in the management companies have to spend an increasing time on data management and structuring, a work without added value and that is not part of the object of a management company.
This work is time consuming. The integration and the manual processing of the data can be a source of errors. With the April Software solution this risk doesn’t exist anymore. This data is collected and checked (data checker) before being sent to the portfolio managers, analysts, risk managers, or compliance officers. For example, a result already calculated by the fund administrator is checked by the system through each one of its components.
A “Hub” to Centralize and Connect the Data for Fund Industry Players
The technology allowing to collect and structure automatically all kinds of fund data coming from one or many central administrations, to enrich with market data and make some calculations (for example the calculation of the global exposure) is one of the many functionalities of the SaaS solution provided by April Software, based in Windhof. The platform built like a real “hub” of data is going ahead and allows at the same time to build tailor made reports. Additionally, it allows the import of data into Microsoft Excel.
Furthermore, the solution can transfer data to other external and well-known software products used by the ManCo’s compliance and risk management departments (for example for the calculation of the VAR). April Software’s “hub” is easy to connect with other systems of information used by fund industry players. This makes the extraction of the data something easy and simple. By centralizing all the requested information this database creates interesting opportunities for April Software’s client companies (small and middle management companies, that don’t have the technical expertise or the human resources to manage the data internally), in particular regarding the data consolidation.
A Modular Application and a Continuous Deployment
The app that allows the creation of customizable dashboards to keep control on the whole data aims to be modular. In this way specific modules can be created on demand following the client needs.
With the goal to answer quickly to the new and ongoing needs of fund industry players, April Software adopted a continuous deployment architecture for its solution. On a regular basis, the application is getting updates and new functionalities and clients don’t have to wait for a new version of the software. The pricing of the solution is based on an annual fixed fee dependent on the number of funds under treatment.
PSF: EBRC for the Data Security
Focused on the development of its solution, April Software delegates the management of its information technology infrastructure at EBRC. The solution and the treated data are thus hosted in Luxembourg in a PSF partner.
A Key Player of the Financial Place among the Partners
April Software is first and foremost an IT company. As such, it focuses on the fund industry for the development of solutions and services. To provide a whole service to his clients, Cedric Nanni created some collaboration with relevant and attractive partners in Luxembourg. Among them is a major BIG 4 actor that has already integrated the product in its bunch of services.
We develop our solution ourselves. We call upon only a few other software products to offer the most possible integrated solution that fits the real needs of fund industry players. This allows us to win in performance, flexibility and productivity. The technology we develop is absolutely not usable in another industry sector. However, this is a conscious choice. The choice to be seen as a fund industry specialist. A lot of our prospects think that such a deep automatized process is impossible. Yet, our software is doing it!
~Cedric Nanni, Founder and CEO
April Software developed an SaaS solution that centralizes in a “hub” the data from the central administrations. It standardizes, enriches with other data and treats it automatically, without operational risk. In addition to the reporting and interfacing with Excel, the platform connects directly to different software products for portfolio management, risk management, compliance, and performance analysis to get and use the data previously structured by the system.
Six Benefits of the Software Solution for Fund Industry Players
- Collects the data
- Checks the data quality
- Structures the data
- Extraction data tool
- Integrated reports
Original interview with Mr. Nanni published by Paperjam Club.