Say goodbye to private equity's technological dark ages
December 06, 2016
PitchBook Dealmakers Column
Historically, “tech savvy” is not the first thing many associate with “private equity sector.” One might even say that private equity is in the “dark ages” when it comes to technology. But this may be about to change. While many private equity firms still rely on Microsoft Excel to manage accounting and other key data-driven functions, the maturation of the market and the integration with other asset classes are driving a need to reevaluate.
And that reevaluation is actively underway.
New research points to private equity firms across all categories and regions embracing innovation and investing in new technologies. In particular, of the 305 private equity leaders who participated in FIS’ 2016 technology survey, 78 percent are exploring cloud technologies, 72 percent are looking into new APIs and data integration tools, 68 percent are investigating mobile technologies and 67 percent are exploring new analytics and business intelligence tools.
This data certainly doesn’t look like a depiction of a sector in the technological dark age.
Learn more about how private equity market participants—including representatives from general partners, limited partners and fund administrators—are thinking about and investing in technology to expand their business, increase efficiency, tighten security and enhance client experience by reading The Promise of Tomorrow: Private Equity and Technology, a report by FIS.
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