How Bipsync works with family offices
The growth in the number of family offices has been quite incredible in recent years with their numbers tripling since 2019 and no sign of this slowing down anytime soon. The sector has also seen significant digital professionalization of their tech stacks, resulting in an increasingly pressing need for more sophisticated investment management solutions.
At Bipsync, we are proud to support this evolving sector. While Bipsync has serviced family office clients since 2017, we’ve more than tripled our client base in this segment in the last 18 months. Today, our family office clients represent over $200 billion in assets under management (AUM), while our impact continues to expand globally.
Here’s why.
We professionalize family office operations
When it comes to technology, many family offices have room for further professionalization. According to UBS, only 44% of family offices globally have a documented investment process. In regions like Switzerland and Southeast Asia, these figures drop below 40%. This presents an opportunity for firms to leverage technology to create a more consistent and structured approach to managing their investment processes, enabling better collaboration and the institutionalization of knowledge and workflows.
Bipsync addresses these gaps by providing a centralized productivity environment that documents pre- and post-investment processes, enhancing team-wide workflows, and ensuring all data inputs and consumption are streamlined across various teams and strategies.
We easily integrate with aggregating platforms
As more family offices adopt portfolio management systems (PMS) like Solovis, Caissa, and Addepar (according to Campden’s latest Global Family Offices Report), Bipsync offers an essential integration that bridges the gap between back-office operations and investment teams; while PMS systems serve as investment books of records, they are typically restricted to back-office use.
Bipsync integrates seamlessly with these platforms, consolidating workflows for investments, operations, accounting, and more into a single cohesive productivity environment. PMS integrations, alongside integration with other systems within the investment tech stack, supports document management and tracks critical activities such as pipeline management, client interactions, capital calls and distributions, and K-1 workflows.
We mitigate risks with automation and security
Manual processes pose significant risks, with Campden citing that 60% of family offices have expressed concerns about human error and data loss. Bipsync mitigates these risks through our robust Rules Engine – which automates workflows and pipelines – and integrations with best-in-class partners, reducing the need for manual input by integrating data from various sources.
For example, our partnership with an integrated portfolio management software at Pilot House demonstrates how automation can streamline operations and minimize errors (which you can read about in much more detail via our Pilot House Associates case study).
Cybersecurity is another primary concern, cited by 61% of family offices in Campden’s report. To combat this, we employ stringent cybersecurity measures, including SOC 2 Type II certification, AWS encryption, mobile app security, API security, and multi-factor authentication (MFA), and more. Our deployment strategy involves separate client server installations to prevent data bleed, ensuring each client’s data remains isolated and secure.
These and other robust security measures protect sensitive information, providing peace of mind that a family’s legacy and operational efficiency will be maintained and long-term success will be assured now and in the future.
We support succession planning
Succession planning is a top priority for family offices as they seek to preserve the family legacy and ensure strategic continuity. Bipsync supports this by institutionalizing knowledge and processes within a family office, ensuring process and data consistency and stability during leadership transitions.
By capturing and retaining critical data and investment contexts, Bipsync minimizes disruptions when personnel change, allowing for seamless knowledge transfer. Further to this effort, we also centralize documentation and workflows, making it easier for new leaders to access and understand the family’s investment strategies and operational procedures as soon as they come on board.
Bipsync is dedicated to enhancing the operations of family offices by providing a centralized, secure, and automated platform that addresses their unique challenges. By professionalizing processes, integrating with existing systems, automating workflows, and ensuring robust security, we help family offices achieve their long-term goals and maintain their legacy.
Interested in learning more about how we can transform your family office operations? Download the Pilot House case study to read more about Bipsync in action.