Cloud-based investment management platform
4/5 (36 reviews)Pros
Backstop hits the sweet spot between features and extensibility. Out of the box, the platform meets 70-80% of our business requirements. Our firm fortunately has the know-how to use API and Excel Toolkit (ETK) to cover the last mile. Most importantly, the product team listens to its customers and continually enhances the platform based on our input. You would unlikely get such feedback loops from the likes of Salesforce, Oracle or Microsoft.
Cons
Compared to a CRM startup that has unlimited flexibility to innovate, Backstop may seem more mature and risk-averse. The UI/UX seems a little dated, and mobile-responsiveness and mobile app have room for improvements. The labeling of different data entry screens should be more standardized as well.
My experience has been great thus far, the folks at Backstop have made the implementation process a breeze, they are always available for questions and assistance which is an invaluable part of being a Backstop client.
Pros
Having a cloud based CRM with not only the functionality to store qualitative but also quantitative information is extremely helpful especially as a member of the investor relations team who is constantly servicing investors. Additionally, having the ability to have the CRM be the backdrop that feeds the investor portal is also great, having to only update one system saves time. The professional services team has been extremely helpful as we continue to implement new features.
Cons
Like any software there are limitations however Backstop does a great job at taking feedback and creating new features from that.
Great tool for investment team to track meetings/calls as well as manage our massive database of documents. The team has always been willing to help with initiatives we have in the system and overall, my organization views Backstop as a central hub for much of our investment management work.
Pros
Clean look, high quality search capability, strong reporting tools to extract data, very good customer support, Backstop team is always looking for ways to improve the software, overall the best CRM/document storage/high level investment management tool on the market
Cons
Still missing some vital Private Equity components, still lacking in cash management functionality, far behind in mobile app technology, would like to see more analytical capabilities rather than just high level investment information
Satisfied. The software is developing rapidly to meet clients' needs.
Pros
Designed for investment management companies. Reports and layouts are very customizable.
Cons
The fund/account structure/logic is designed for U.S. clients mostly which are not all applicable for Canadian users.
Pros
The flexibility of the software is a great feature - the ability to customize reports and layouts to suit our business has proven very helpful.
Cons
The flexibility of the software can also make things incredibly complicated and difficult to use at times. I'm the official 'power user' of the group - and have got to that position after attending conference, watching videos, and going to Backstop seminars. However - the rest of our group hasn't had the time or the mandate to do so, and it can be time-consuming for them to try to figure out some issues. I don't think that it's a very intuitive system to use at times (until you learn how it works), and that has presented some challenges.
Prior to using Portal we emailed all investor documents individually, now we disseminate documents to investors through Backstop Portal and use it as our website host. Backstop CRM is how we track opportunities, investors, send out emails and keep track of events. Having one system to do so many tasks makes life much easier.
Pros
Simple, easy to use, can be customized to fit the needs of the organization. Support is outstanding. Definitely the best of the dozen CRM/portal systems I've used over a 20+ year career in Finance.
Cons
Reporting is still a bit slow and cumbersome.
Backstop has been my preferred CRM at four different institutions I have worked at over the past 10 years. It is very intuitive and user-friendly. The sales/support team will work with you for any bespoke request and will help you customize the product to fit your firm and team's optimal needs.
Pros
Backstop is extremely customizable and therefore can meet every clients' needs. The platform is very helpful for centralizing all existing and prospective client information.
Cons
I am not an active user of the Investor Bridge but in demo, did not find that to be very good.
Great for tracking fundraising process. Simple and easy to use. We selected Backstop about a year ago after a very thorough search of all FinTec CRM Systems, including Dynamo, Imagineer and many others. Backstop was the clear winner.
Pros
Excellent support on Setup. Easily able to import/create contacts, organizations and opportunities. Import/Export capabilities are good. Security options (2FA, SSO, IP locking) are excellent, and admin capabilities are very strong. Import meetings/notes from Outlook useful.
Cons
Reporting is a bit cumbersome and slow. Customization is limited. Email integration created a huge headache, but was solved quickly. Outlook and Excel add-ins crash occasionally
Pros
Easy to use software that is very customizable. We utilize a balanced combo of out of the box features along with unique layouts to track tasks that are more specific to us. Backstop's staff and support teams are great. They are always willing to go the extra mile to solve an issue.
Cons
Reporting can be a little onerous with the sheer volume of reportable data. There is a learning curve and a little extra effort required to get the reporting to meet your needs.
With Backstop, we are able to track our investor relations work with ease. In addition, customer feedback is very important and the support team is extremely responsive and supportive.
Pros
Backstop is very useful for storing information regarding investors and their accounts. There are many useful webinars as well as training documents and videos that have assisted me in learning what Backstop offers. We are able to distribute documents through the investor portal which saves us time and makes things easy and efficient. Backstop is customizable, cloud-based and contains features that we can use to cater to our own needs as a company.
Cons
Some features still lack a bit of clarity. I am still trying to learn how to build an efficient report. It can sometimes be a slower process than I would like.
I have been a user for almost 6 years now and I have been the software improved dramatically. They never stop innovating with the end user in mind.
Pros
Analytical tools are great. The software is also very flexible and allows for individual customization of many items.
Cons
The reporting engine is a bit outdated and the least user friendly part of the software. My understanding is they are working on a new reporting engine and we should see improvement soon.
Overall, I am very pleased with the platform. Our team has come to use it in-depth and daily!
Pros
Backstop is a central hub for all of our relationships and reporting. The system is very easy to use, customizable, very robust, and the excel add-ins allow us to build sophisticated reports to match our daily needs and wants.
Cons
While the platform overall is very customizable, there are certain aspects that aren't. For example, the opportunities section under the organization comes standard, and some of the information is irrelevant to use.
The customer service for Backstop is top notch. Everyone is eager to assist with questions or concerns. Their coffee break sessions are helpful tutorials to stay fresh on new features.
Pros
This is an excellent software to track and monitor investor activity, communications, and account flows.
Cons
Because the software is so customizable, it takes time to build some of the reports.
Pros
Backstop allows us to streamline our communication as allocators, with the ability to upload notes, files and documents in a systematic way.
Cons
It is a very powerful piece of software; there is a lot Backstop is capable of that we aren't taking advantage of. It takes a lot of time to get the most use out of the software.
Great. Responsive and professional team that always seems to be working!
Pros
The effort BS puts in to customize and update our version of the software to make sure it is as user-friendly as possible and always expanding for more use purposes.
Cons
Updates seem to affect other components of the software that are not intended. When updates are made, it would be ideal that a little bubble pops up to say "this is new" to ensure the new options are utilized/made known.
We are happy with this service and see no reason to change.
Pros
This software is a great value compared to other products available.
Cons
When an update to the software is needed it can take a long time to receive an update.
Pros
A great place to store vehicle and account information. We export these daily in order to know what primary keys and accounst ahve already been set up. Allows us to effectively sort through this data.
Cons
Navigation can be difficult. Sometimes I struggle to navigate the links between clients plans and vehicles.
Pros
It is easy to use plugin in email. I can easily send my email information straight into the software.
Cons
I haven't had any problems with the product.
Pros
All the information is always made clear and readily available.
Cons
The run time is slow compared to alternatives which only provide simpler services.
Positive.
Pros
Backstop is to commended on its ease of use.
Cons
Nothing immediate springs to mind regarding what i like least about it.
It has been great
Pros
Any changes and/or updates made are instantly reflected upon updating the website as well as various risk & return reports
Cons
More standardized risk and return performance reports
Pros
The site is easy to navigate and you are able to run reports and track investor communication.
Cons
the site seems a little outdated and not as sleek or user friendly as competitors.
I always have had a good experience with Backstop; both the software and customer service. Backstop really has allowed our firm to track everything necessary. Our representatives at Backstop have always been extremely helpful and enjoy speaking with them regularly about new features and updates to the system.
Pros
Overall maneuverability. The layout of the software makes sense. It's one of those situations where you login and as soon as you begin working with the software, you get the sense that you've already been using the software for years.
Cons
Reporting Functionality. The reporting functionality is extremely comprehensive, thus creating an increase in difficulty. There are so many fields to choose from, sometimes you are lost.
Pros
Somewhat customizable. I like the ability to create your own views.
Cons
uploading and sending out email blasts. The email center is very not user friendly.
Pros
Powerful tools with tons of built in functionality for in depth quantitative analysis.
Cons
Its clunky to use and the lay out isn't best. There are many things that could be made more intuitive and less redundant.
A cloud-based CRM to centrally store business contacts, collaterals, qualitative and quantitative data and share amongst different departments. Combing Report Builder, Excel Toolkit and API allows end-users to self-serve business intelligence.