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15 June 2020

What to Consider When Evaluating a Technology Vendor

Modernizing your tech-stack and thoroughly evaluating technology vendors is ever growing in importance. Firms are relying on solution providers to play a critical role in their day-to-day operations and workflows. These providers not only offer innovative solutions, but also have industry and regulatory knowledge to help effectively implement best practices.

There are many vendors that offer outsourcing and managed service capabilities to the hedge fund industry; evaluating these solutions is the first step to transforming your operations and daily workflows. Part of that process involves deciding which areas to outsource.

  • Ensure the vendor offers leading technology that encompasses regulatory, compliance, and accounting considerations, with room to customize and tailor to your desired workflows
  • Ensure key components for operational efficiency are addressed; specifically with regards to reconciliation, data governance, and task management workflows
  • Ensure the vendor is credible – not just in terms of technology offered – but in deep-seated knowledge and expertise.


Once you have made the decision to outsource, it is important to choose a team equipped to handle your unique processes and execute on your behalf. Outsourcing involves trusting the experts assigned to your daily operations and is intended to alleviate your day-to-day duties. It is a true extension of your business, freeing up your internal resources for more strategic work. Any potential quality provider should be able to tailor, on a client-by-client basis, the diverse functions and workflow processes needed. Lastly, it is critical to remember that when outsourcing parts of your business, the responsibility and ownership of control and oversight remains within the fund’s management.

The tools and technology that vendors are using in the administration of your activities is another area to explore in the evaluation process. Vendors should implement practices that provide transparency and full-audit capabilities in order for you to effectively oversee their daily workflows. Moreover, as each firm manages its workflows in a different capacity, personalization and flexibility remains a key aspect to these tools.

With an iron clad audit trail and full transparency via user-defined dashboards, Advent Outsourcing Services (AOS) clients can feel confident that they are aware of all the processes in their daily operations, as well as have the capability to easily identify and define discrepancies or breaks along the way. Outsourcing is not one size fits all. To learn more, visit Advent Outsourcing Services and explore the entire menu of service options available and see how our custom solutions can best fit your needs.