The groundbreaking platform allows asset allocators to take control of their time and information with automated straight-through processing of due diligence documentation
CHICAGO [October 29, 2019] – Backstop Solutions Group, the leading cloud-based productivity suite for institutional and alternative investors, today announced IntellX, the newest offering in Backstop Solution’s suite of data products and services. Using artificial intelligence and machine learning, Backstop IntellX ultimately aims to automate inbound data collection, classification, and management, enabling the operations teams inside large asset owners to boost productivity and spend more of their time on the activities that create the most value for their investment teams.
“For every email that comes through with an attachment, be it an investor letter, capital accounts statement, or what have you, our team was spending up to five minutes opening, processing and tagging each one,” said Jeffrey Murphy, Operations Manager for Eastman Kodak’s Pension Investment Group. “IntellX alleviates this resource strain with straight-through processing so that our operations team can immediately get to work on higher value-added tasks. We get thousands of emails each month, so the benefits of IntellX compound quickly in terms of time savings and better allocation of resources.”
With Backstop IntellX, documents are captured directly from the fund source. Without human intervention, IntellX uses a documentation classification engine powered by artificial intelligence to label each unique file type. Machine learning capabilities enable IntellX to continuously improve its ability to organize content based on specific user- defined nomenclature. As a result, files become centrally located, displayed, and easily accessible across the organization.
“We’ve estimated that allocators manage an average of 12,000 documents a year coming in from their funds,” said Andy Phillips, VP of Data Products and Services, Backstop Solutions. “A common pain point we were hearing from clients was around the amount of time they spent searching for information stored in disparate locations. Not only is this an inefficient use of time, but manual processes inherently lead to errors, whether that’s overlooked information, misfiled documents, redundancies, etc. We’ve built IntellX to directly address these challenges, automating many of the time-consuming documentation and due diligence processes so that our clients are able to improve productivity, enhance data quality and timeliness, decrease document processing costs, and dedicate more time to value-added tasks.”
Backstop IntellX is designed for the needs of institutional investors, including investment consultants and advisors, OCIOs, pensions, endowments, foundations, institutions and family offices. Pricing for IntellX is based upon the number of funds allocators are invested in and collecting from, and it is available to Backstop clients immediately.
For more information, visit backstopsolutions.com/backstop-intellx.
About Backstop Solutions Group, LLC Backstop’s mission is to help the institutional investment industry use time to its fullest potential. We develop technology to simplify and streamline otherwise time- consuming tasks and processes, enabling our clients to quickly and easily access, share, and manage the knowledge that is critical to their day-to-day business success. Backstop provides its industry- leading cloud-based productivity suite to investment consultants, pensions, funds of funds, family offices, endowments, foundations, private equity, hedge funds, and real estate investment firms.
For further information contact:
Rachel Provenzano
Mission Control Marketing
+1 585 748 2201
rachel@missioncontrol.marketing
