Institutional investment consulting firm adopts new technology to eliminate manual data entry for alternative asset investors
NEWPORT BEACH, CA and NEW YORK – December 5th, 2018 – Canterbury Consulting, a Newport Beach-based institutional investment advisory firm with more than $18.3 billion in assets under management, will turn to Canoe Intelligence (Canoe), in a multi-year relationship to efficiently digitize, track and organize thousands of documents and data points.
“Canoe’s system will help track and organize all our clients’ documents,” says Mike Ethridge, COO, Canterbury Consulting. “Transitioning from the time-consuming task of manually reviewing and sorting everything to Canoe’s intelligent system will be a huge win for our clients.”
Canoe’s first-of-its-kind technology eliminates manual data entry for alternative asset investors. The technology allows institutions, LPs, and family offices to automate data extraction and document management and refocus capital and human resources on business performance and growth.
“We are honored to be working with Canterbury Consulting, an industry leader and a true innovator,” says Seth Brotman, Canoe CEO. “Canoe’s AI technology helps allocators of all sizes improve accuracy, save time, reduce costs and regain operational control. The efficiency gains enable firms to take client service to a higher level and scale their businesses for growth.”
Under terms of the multi-year relationship with Canterbury, Canoe will apply its scalable and proprietary AI technology to statements, notices, reports and other documents from over 2,500 alternative investments across Canterbury clients, digitally organizing the documents for easy and immediate access. Data can then be seamlessly fed into Canterbury’s portfolio reporting, accounting, and analytics platforms to optimize the performance reporting experience for Canterbury’s clients.
Financial details of the relationship were not disclosed.
Canoe launched in Q4 2017 and this November was nominated for The Family Wealth Report Awards 2019. These awards showcase ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities. The awards recognize companies, teams and individuals deemed to have demonstrated innovation and excellence during 2018.
Today’s sophisticated allocators manage complex portfolios including scores of alternative investments such as hedge funds, private equity and venture capital. As a result, allocators are inundated with up to 50,000 documents annually, containing 200,000 or more critical transaction, valuation and performance data points. Firms have historically relied on teams of individuals or offshore groups to manually manage data extraction and document storage, leading to industry-wide frustrations due to errors, latency, spiraling costs, and lack of control.
About Canterbury Consulting
Canterbury Consulting is a leading investment advisory firm based in Newport Beach, CA, overseeing more than $18.3 billion as of June 30, 2018, for foundations, endowments, healthcare organizations, and families. Founded in 1988, the company designs and manages custom investment programs aligned with each client’s goals. Canterbury acts as the investment office for its diverse clients and provides objective investment advice, asset allocation, manager selection, risk management, implementation, and performance measurement. Canterbury Consulting strives to deliver performance and service that exceeds the needs and expectations of its clients. Learn more about Canterbury at www.canterburyconsulting.com.
About Canoe Intelligence
Canoe’s technology allows institutions, LPs, and family offices to automate data extraction, data management and other operational processes and refocus capital and human resources on business performance and growth. Canoe’s AI-driven platform was developed in 2013 for a billion-dollar, multi-family office and today is relied upon by more than 70 institutional investors, advisors, and family offices. www.canoesoftware.com