{"id":8228,"date":"2021-09-10T10:54:00","date_gmt":"2021-09-10T10:54:00","guid":{"rendered":"https:\/\/iqeq.com\/?p=8228"},"modified":"2023-05-05T10:59:04","modified_gmt":"2023-05-05T10:59:04","slug":"insights-tech-transformation-survey","status":"publish","type":"post","link":"https:\/\/iqeq.com\/insights\/insights-tech-transformation-survey\/","title":{"rendered":"The Tech Transformation Survey"},"content":{"rendered":"<section class=\"text-block standard-spacing  \">\n    <div class=\"container fade-in\">\n        <p style=\"text-align: justify\">Midway through 2021, working considerations for businesses in every industry look very different than they did two years ago. The global pandemic forced organisations to adopt remote work for over a year, and as a result, expectations about ways of working have changed for good. Hybrid remote work is here to stay, and businesses are facing new large-scale cultural and systemic challenges.<\/p>\n<p style=\"text-align: justify\">Fortunately, technology offers compelling solutions to these challenges.<\/p>\n<p style=\"text-align: justify\">In an effort to understand how private equity firms are coping with these changes (and the resulting pressure points), we partnered with\u00a0<a href=\"https:\/\/the-drawdown.com\/\">The Drawdown<\/a>\u00a0to survey key players in the industry. We received responses from a number of C-Suite professionals, with over half of those surveyed managing more than $1bn AUM.<\/p>\n<p style=\"text-align: justify\"><strong>Our main objective was to determine which technologies and services private equity firms are utilising across various functions, including fund administration, HR, and deal origination.<\/strong><\/p>\n<p style=\"text-align: justify\">Our findings were encouraging. The industry has become increasingly tech-savvy, challenging its previous reputation for sluggish adoption. Outsourced and in-house systems are in broad use and adoption is increasing, allowing fund managers to focus on investment and allocation strategies.<\/p>\n<p style=\"text-align: justify\">We also considered other critical challenges faced by private equity firms, including cybersecurity and data management. PE firms hold a massive amount of sensitive client and market data, which presents a considerable risk of cyber-attack. The need for robust cybersecurity practices and policies is clear, though firms are not always clear on the proper path to achieve that level of security. And as cloud-based technologies become increasingly convenient and cost-effective, adjusting data management practices is also a priority.<\/p>\n<p style=\"text-align: justify\">Overall, as firms determine how they should adapt to the \u201cnew normal\u201d of hybrid remote work, we believe that the emphasis on implementing robust technology systems will only grow.<\/p>\n<p style=\"text-align: justify\">Here\u2019s a look at where the industry is now\u2014and where it\u2019s headed.<\/p>\n<p style=\"text-align: justify\"><a class=\"faux-button-chevron btn btn--darkmint\" href=\"https:\/\/iqeq.com\/sites\/default\/files\/2021-09\/IQ-EQ%20and%20the%20Drawdown%20Tech%20Transformation%20Survey.pdf\" target=\"_blank\" rel=\"noopener\">Click here to view the survey<\/a><\/p>\n            <\/div>\n<\/section>","protected":false},"excerpt":{"rendered":"","protected":false},"author":11,"featured_media":8229,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[],"expertise":[],"service_category":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - 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