Eton Solutions Insights
Resources to help you build the family office of the future
Eton Solutions is here to help your office be the best it can be. Explore our range of resources to learn more.
Brief thoughts into the industry
The Time Has Come For Automated Accounting
In 2023, family offices are focusing on doing things right rather than radically different. Forbes emphasizes the importance of professionalizing family wealth, implementing long-term compensation benchmarks, retaining talent, and decentralizing risk for success amid uncertainty. One key aspect is optimizing accounting processes and workflows, acknowledging the impact of automation on accountants. Instead of fearing job replacement, the synergy between technology and staff is highlighted. Efficient automation in family offices involves streamlining accounting, standardizing workflows, and deploying technology to enhance decision-making.
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Maximizing Returns and Mitigating Risks: The Power of Automated Fund Accounting in Private Capital Partnerships
The modern family office industry faces a range of challenges, including complex regulatory environments and the increasing flow of capital towards private capital investments. Private capital refers to investments held through private partnerships that divert funds away from public assets and into focused strategies like private equity, venture capital, and real estate. This shift necessitates the adoption of new accounting systems and processes by family offices to manage their evolving needs. However, the operational silos within family offices hinder the development of robust internal processes and control frameworks, as legal, accounting, and investment professionals operate independently. This outdated approach of tracking and managing privately held partnerships results in diminishing returns and a significant cost burden, including cybersecurity investments. To address these challenges, a streamlined solution is required to enhance the efficiency of family office operations, automate allocation methodologies, and improve financial reporting. By embracing such a solution, family offices can adapt and thrive in the changing landscape of private capital investments.
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Managing Family Office Complexity with AtlasFive®
For modern family offices, complexity is the name of the game. Because they manage an intricate web of legal entities, ownership structures, and interrelationships, family offices have numerous responsibilities and reporting requirements that span various arrangements. And because of the uniqueness of each office’s composition and roles, finding a tech platform that catches every aspect of their administration while also allowing for total customization has been a challenge — until now. With Eton Solutions’ AtlasFive platform, family offices can finally implement a fully integrated system that is configurable to work with their clients’ requirements.
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Eton Solutions AtlasFive Introduction
Discover AtlasFive by Eton Solutions, the game-changing platform designed to revolutionize family office operations. With over 270 integrated processes, AtlasFive transforms inefficiencies into efficiencies, enabling you to focus on high-value tasks. Learn how our platform is securing $425 billion in assets for over 390 families worldwide.