Backstop Solutions Suite Reviews & Product Details

Backstop Solutions Suite Overview

What is Backstop Solutions Suite?

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.

Backstop Solutions Suite Details
Product Description

Backstop offers the industry-leading, cloud-based productivity suite to funds of funds, pensions, endowments, foundations, investment consultants, family offices, hedge funds, and private equity firms

How do you position yourself against your competitors?

The Backstop Suite’s cohesive solutions have become the gold standard across the alternative investment world.

The Backstop Suite helps our fund manager clients strengthen their relationships with investors and interact with their many service providers while also maintaining their ability to adapt to the ever-evolving regulatory landscape.

Allocators use these same components of the suite in addition to Backstop’s research and portfolio management features to make better investment decisions and accurately account for their investment activity.

We are honored to have helped accelerate the growth of the alternative investment industry. We look forward to evolving with our clients and continuing to support them in their quest for operational agility and improved business performance.


Seller Details
Seller
Backstop
Year Founded
2003
HQ Location
Chicago, IL
Twitter
@Backstop
518 Twitter followers
LinkedIn® Page
www.linkedin.com
218 employees on LinkedIn®

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Backstop Solutions Suite Reviews

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: G2 Gives Campaign
What do you like best?

The ease of creating multiple portfolios within one instance, along with the ability to create organizations, holdings , enter or upload transactions and calculate returns. it can also be used as a document depository. It is a useful tool to "shadow" your trustee book of record. Review collected by and hosted on G2.com.

What do you dislike?

Compared to previous applications/tools we have used, BackStop is superior. BackStop is very responsive to any suggestions for improvement; in our case, we have had some requests for improvement in their reporting capability. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We have been able to use BackStop to verify portfolio holdings, monthly and 10th Business Day reporting against our Trustee book of record. This is invaluable as it allows us to preemptively recognize potential problems and correct them quickly. We also have all of our supporting documentation at our fingertips, which is very convenient given that most funds or LPS now have their own portals and sign in credentials. This saves us time when needing to access a document. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Backstop is a highly flexible end-to-end CRM, portfolio management, and manager due-diligence tool. It covers all the asset classes typically found in institutional portfolios and allows for easy, customized analysis at the manager, composite, and portfolio levels. It also integrates seamlessly with multiple third-party services, making benchmarking and manager research easy.

The support site is also solid and provides volumes of content in written, downloadable form, as well as videos.

Finally, Backstop is constantly innovating, enhancing its customizable interface and provides superb customer support. It is essential to the endowment's daily operation. Review collected by and hosted on G2.com.

What do you dislike?

Candidly, there is nothing to dislike. The only challenge Backstop poses for users is that its frequent innovations can sometimes leave help materials trailing behind the latest functionality. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

With modest effort, a new user can generate significant value to an investment management organization in the areas of CRM and/or research. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Backstop provides an expansive research platform and robust reporting tool that covers the majority of any manager-of-manager's needs. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Easy to use graphic user interface, web-based system that can be accessed anywhere, excellent customer service, effective technical support, competitive pricing, support for private equity and hedge funds, performance reporting. Review collected by and hosted on G2.com.

What do you dislike?

Does not support direct investment performance tracking Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Arrange a demo and see for yourselves Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Central data depository for all funds related documents, meeting notes, contact information, performance metrics and reporting. Review collected by and hosted on G2.com.

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AI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 Gives Campaign
What do you like best?

They listen and understand and even anticipate our needs. We are not a typical business for Backstop and they have customized several things in their application to accommodate our uniqueness. Their support desk is best of class! It is a pleasure dealing with any of the help desk personnel. Every single person we have met or dealt with from Clint on down are quality professionals and committed to us getting the best product they can give to us. We also have completely enjoyed the yearly Backstop Conference. Review collected by and hosted on G2.com.

What do you dislike?

Dislike is too negative of a term. There is nothing we dislike. We would have a few wishes for some enhancements for our team but we also realize that we are outliers to the bulk of the companies/endowments etc. that use Backstop. A few things we wanted in the past have been incorporated in some of the new releases which was great to see. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

A-one product; forward-thinking; excellent support; true partnership; ease of setting up initially Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Backstop is our only document repository system. It contains thousands and thousands of our past and present documents. It does provide some analytics for us. We record all of our benefit trades and transactions in Backstop. The reporting capabilities are extraordinary and utilized heavily. We are looking forward to the Mercer integration as well which we intend to use. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Backstop is able to effectively maintain data, both quantitative and qualitative, for a vast number of current and prospective investments. This has been essential in monitoring our current funds, both public and private investments, as well as building out the investment office's due diligence process. Backstop has been an effective CRM tool as the investment office continues to grow.

While Backstop was first introduced to us as a CRM tool, it has proven to be a useful portfolio management tool as well. Backstop's liquidity module function has been helpful in simplifying the liquidity schedule for multiple hedge funds with complex redemption terms. Backstop can also calculate important risk and return metrics for specific funds important to investment professionals once return and transaction data are uploaded into the system correctly. Review collected by and hosted on G2.com.

What do you dislike?

Because the capabilities of Backstop are vast, it may take a bit of time to understand the general ins and outs of the system. Backstop continues to roll out new and helpful features, however, the time must be put in to continually learn the new features provided. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Backstop Solutions Suite is an essential tool for endowment/foundations looking to build up and/ or streamline the main functions of an investment office. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

With the large number of invested and potential funds, it was difficult to properly monitor and maintain all data provided by the funds we are invested in and monitoring. Backstop has proven to effectively house all relevant data tailored to any endowment/foundation investment office needs. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Backstop allows me to keep detailed notes, documents, and diligence takes easily organized. It greatly streamlines my workflow and diligence process when trying to select Alternative investments for our investors. It also helps us rank managers and funds we are vetting using more quantitative and qualitative metrics. Review collected by and hosted on G2.com.

What do you dislike?

Sometimes I wish it were easier to build customized reports. I'm getting better at this but it is not always the most intuitive. Also moving around to different sections is not always super intuitive. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

We have found Backstop to be very useful in tracking our investments and in vetting new investments. I would highly recommend this to those that are looking for better organization with their investments and in conducting due diligence. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

It has made our due diligence process much more streamlined and organized. I can easily see when I'm due to catch up with a manager, when documents from funds don't come in on the expected timeline, where we are in our diligence process with different funds and other projects, etc. Review collected by and hosted on G2.com.

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AI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Provides our organization with a three-pronged investment management system.

1.) Strong CRM for us to manage our numerous contacts.

2.) Vast document storage and archiving system that houses all of our important and ongoing documents.

3.) Visually appealing and wide-ranging high-level investment analysis tool. Review collected by and hosted on G2.com.

What do you dislike?

Not a deep analytics tool nor a broad performance calculation engine although I don't believe that was ever the intent. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

1.) Total portfolio analysis all in one place (used to be in disparate systems that were brought together in Excel).

2.) More real-time and ongoing reporting that is push-button ready (rather than building reports in Excel).

3.) Easier to prepare investment analysis reports (tear sheets) that don't have to be maintained and updated manually.

4.) Questionnaire ability directly out of and into Backstop without having to use other systems and then importing the information into Backstop. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best?

Ease of use, built-in calculations and reporting capabilities Review collected by and hosted on G2.com.

What do you dislike?

Some reports are limited across Contacts and Accounts. Lack of APIs for information already displayed in the system (i.e. percentage of product). Lack of customisation capabilities in the CRM and investor portal. We ended up hiring an outside provider to design and develop the investor portal. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

Backstop Solutions CRM is a great out-of-the-box solution. Do not expect a high level of customisation. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Efficient generation of client performance figures and reporting for various regulatory requirements. Review collected by and hosted on G2.com.

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AF
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Backstop CRM is a CRM solution customised out of the box for Hedge Funds/Private Equity firms which is very beneficial vs. Salesforce (as an example) which requires significant customization for firms in our industry. I've also been quite impressed with the new UI and reporting improvements with the Pipeline Manager and the Fundraising Dashboard. Review collected by and hosted on G2.com.

What do you dislike?

It would be helpful to have a specific notification system that allows the users that had an improvement request or issue, to know that it has been resolved. I know that the Backstop Newsletter makes these announcements however a lot of users don't always have to the time to review them. And as the support ticket is tied to a user, I would imagine there is a way to let users know that their improvement request has been updated.

Also, I appreciate that the new UI that was recently launched is designed to make Backstop feel a bit more 'clean' with all of the tabs/options on the left now in the menu bar, however this leaves so much 'white real estate' just open on the left hand side. As we don't feel it's entirely 'user intuitive' to hit the menu button in the current set up, I believe product development mentioned some of the tabbed options might be on the light blue bar at the top going forward? This would be very helpful. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Please see the above. Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 Gives Campaign
What do you like best?

The backstop support staff is very helpful and always ready to make improvements to enhance the user experience. The staff is responsive and will usually get back to you on any questions/concerns within a few days Review collected by and hosted on G2.com.

What do you dislike?

There's a lot of "hidden" features that you may not know about or may not find useful to your role. These features are not always obvious, so it's helpful to get some additional training on the product and everything available to maximize your backstop usage Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We can mirror our fund administrator and check work diligently without having to do manual calculations every month. It's a great time saver, and results in more accurate checking Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

It's a reliable product that is easy to navigate. Review collected by and hosted on G2.com.

What do you dislike?

There is a learning curve but I think that is to be expected with any product like this. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We use it as an allocation software for investments and partners. It works well for what we need. Much better than the manual solution. Review collected by and hosted on G2.com.

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Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Simple, easy to use, client care is excellent, very patient onboarding team. Review collected by and hosted on G2.com.

What do you dislike?

Nothing! I really enjoy using Backstop and have nothing to complain about. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Keeps all of our potential client information organized and in one database. Reporting is a wonderful tool. Review collected by and hosted on G2.com.

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AV
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 Gives Campaign
What do you like best?

It was customized to meet the needs of the Company. Review collected by and hosted on G2.com.

What do you dislike?

Some aspects of the system can be initially challenging. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Provides clients with secure access to information resulting in a significant reduction in client servicing time. Review collected by and hosted on G2.com.

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AF
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Invitation from G2 on behalf of the seller
What do you like best?

The functionality is very easy to use and provides the exact portfolio management abilities our Firm is looking for Review collected by and hosted on G2.com.

What do you dislike?

There's not much to dislike about the platform, occasionally there will be some lags in response time but not often Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Backstop offers our Firm the ability to manage our portfolios and track documents, relationships, etc. It has been a huge time save for our team. We haven't encountered many "problems" per se, but any questions we've had have been easily resolved with Backstop's support team Review collected by and hosted on G2.com.

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UF
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

I love being able to aggregate all of the investments into one platform. I also really like the speed at which I am able to upload documents and input data. Review collected by and hosted on G2.com.

What do you dislike?

The app is not ready for use which is something that our company would really like to see. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are able to track all of the investments and see the yearly performance of each one. This is beneficial to management to track all of the investments accordingly. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

Backstop helps keep our team stay in constant communication and aids in streamlining workflows. Review collected by and hosted on G2.com.

What do you dislike?

Really no complaints with Backstop, they are constantly refreshing their toolbox. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Backstop recently helped our team with new scheduled reports that we use multiple times per day and helps keep all of our ongoing tasks in order. Backstop is always willing to help and answer questions as they come up, which in turn has helped speed up our internal processes. Review collected by and hosted on G2.com.

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AI
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: Invitation from G2 on behalf of the seller
What do you like best?

A one-stop shop for all of my CRM, IR, and Portfolio Management needs Review collected by and hosted on G2.com.

What do you dislike?

I can't say there is anything I dislike. I've had the best experience. Review collected by and hosted on G2.com.

Recommendations to others considering the product:

If you are in the market for a software product, place this product in your top three. I can save you the time, effort, and energy of doing all the research. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Tracking all information, from emails, documents, account activity, etc. for investors and managers in one place. Review collected by and hosted on G2.com.

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UN
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: G2 Gives Campaign
What do you like best?

The interface is easy to use with the ability to customize content storage and display. Review collected by and hosted on G2.com.

What do you dislike?

While the reporting is pretty easy to navigate, there could be a few more canned report options. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

We are solving the problem of having one portal with numbers (transactions/values) with notes and CRM information. Review collected by and hosted on G2.com.

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UI
Small-Business(50 or fewer emp.)
Validated Reviewer
Review source: G2 Gives Campaign
What do you like best?

Client relations, customer service and help desk knowledge. Review collected by and hosted on G2.com.

What do you dislike?

Not applicable. The functionality is built to suit many needs. Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Reporting and valuation. Saving hardware space on internal drives where statements and data were stored. Review collected by and hosted on G2.com.

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UF
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: G2 Gives Campaign
What do you like best?

Tracking transactions, values, returns, documents, and notes for portfolios of private investments Review collected by and hosted on G2.com.

What do you dislike?

Difficulty getting data in and out of backstop Review collected by and hosted on G2.com.

What problems are you solving with the product? What benefits have you realized?

Improved communication across teams and easier visibility into portfolio performance Review collected by and hosted on G2.com.

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