Silvercrest had been relying on its accounting system as a one-stop shop for its reporting needs, which meant standard reports were rudimentary and for many clients—especially non-institutional investors who are used to interactive, more customizable statements—they didn’t make the grade. To compensate, Silvercrest sometimes outsourced to third-party firms—an option that proved both resource and time-intensive.
The company required a web-based analytics and reporting platform that would allow it to build more professional reports and dashboards, tailored to its clients’ needs, in a way that was easy for its teams to create internally without the need for outsourcing. The tool would have to be scalable as Silvercrest’s client list grew, with content that could be exportable to a variety of formats—available online through a client portal, but also with the ability to output pixel-perfect to PDF and Microsoft® Excel® , Microsoft® PowerPoint® and Microsoft® Word® , depending on the clients’ preferences. Most importantly, the new solution would have to seamlessly draw data from its cloud-based Microsoft® Azure® SQL Database. “For me, the first goal was, let’s present something that looks good and also is highly functional and easy to use,” said Rohan Kalyanpur, senior vice president for Silvercrest Asset Management Group. “We wanted something much more in line with our branding, basically taking our reporting to the 21st century.”
Easy to use, flexible output
The Silvercrest team considered several reporting solutions for the job, looking for the right platform to fit its needs and meet clients’ expectations. The company ultimately chose OpenText™ Information Hub (iHub), alongside OpenText™ Analytics Designer, as its technology of choice. Having used iHub at previous companies, Kalyanpur was already familiar with its advanced business intelligence (BI) and reporting capabilities and knew it could keep up with the company’s plans, helping clients better engage with their data and ultimately filling the company’s internal reporting needs as well. In January 2015, Silvercrest seamlessly embedded the OpenText solutions into its company-branded web portal where its reports are housed.
“We wanted a BI and reporting platform that could service our client reporting, as well as our internal analytics needs. And iHub had all of the features that we wanted,” said Kalyanpur.
iHub and Analytics Designer allowed Silvercrest to be flexible in both report design and output and is also user friendly for Kalyanpur’s in-house team. “I can click a button and deploy the report to the server. I don’t need to do all the other export and import,” Kalyanpur said. “That makes it very useful for developers to just deploy—you can first deploy to your test environment very easily and then once you’re ready you can deploy very easily to your production.”
The Silvercrest portfolio managers, who are non-technical users, can easily create and customize their client reports and dashboards, without IT support. “It is easy for the portfolio managers to put together a report. They can click a button and a report is generated for them,” noted Kalyanpur.