Client Challenge – Co-Sourcing
Client Challenge – Co-Sourcing
Newly formed $22B asset manager via spin-out with skeleton back-office team required expansion of resources. All levels of highly skilled fund accountants necessary to support 10 funds in a limited time span. Client’s first experience with outsourced administration engagement.
The Solution
Implemented an eleven person fully dedicated Petra co-sourced team through a phased approach operating via a hybrid of VPN and cloud-based access. Post an in-depth assessment of client complexities, current and forward-looking team structure, existing platforms and technologies needs Petra and client collaborated and agreed upon onboarding and execution plan. Petra’s co-sourced team skillset determined in conjunction with client input.
Key Results
- Expansion of back office through use of Petra eliminating HR oversight
- Team of 100% dedicated Petra employees curated based on client needs
- Existing processes and platforms remain in place providing consistency for existing client team
- Customized relationship based on client complexities such as Petra team background requirements, agreed upon responsibilities and technology needs
- Ability to access Petra’s deep bench of resources across service lines
- Petra is an extension of the client and fully immersed with existing team