RFP checklist for fund software
The requirements to put in writing before the first demo.
What should an RFP for investment management software include?
Your structures and volumes, required modules (accounting, capital activity, waterfalls, reporting, portal and mobile, CRM, compliance, tax), integration and data-export needs, security and hosting requirements, implementation expectations, support, and a pricing request at your projected three-year size.
Structures and volumes
Funds, vehicles, investors, currencies, side letters, waterfalls; expected growth.
Functional requirements
- Partnership and investment accounting; NAV
- Capital calls, distributions, bank reconciliation
- Waterfalls modelled to the LPA
- Investor reporting and ILPA templates
- Portal and native mobile apps
- CRM, fundraising, onboarding and KYC
- Tax data and K-1 delivery
- Compliance records and audit trail
Non-functional
Security certifications and policies, SSO and MFA, hosting location, backups, API and exports, uptime and support.
Commercial
Three-year cost at year-three size; implementation fees; exit terms and data return.
Questions
Should we send the RFP before demos?
Send structures first; demos on your own data are far more useful.
Want to see this on your own fund?
Name and work email. A person replies within one business day, usually with times for a demo on a structure like yours.
Talk to us
Name and work email. We reply within one business day, from a person.
Sent.
Someone from FUN/D will email you within one business day. If it's urgent, call +1-212-658-0862.