The Right Tools

Managing a modern business, especially in a complex sphere like asset management, means processing, tracking, and analysing a lot of data. Some people expect to do that with simple out-of-the-box tools like Excel, software that anyone can quickly pick up, and there are big businesses working alarmingly close to that model. “But if you want to look at data quality, data duplication, audit trail, you need to prove that you have done the right things,” Bert Boerman, CEO and co-founder of Governance.com, points out. “This is not possible if you manage this business by Excel.” Even businesses that don’t rely on Excel are often using outdated solutions, ones designed for what Boerman refers to as “a much simpler time”. Both the financial sector and the technology supporting it have become more complex in recent years, and any serious company needs to adjust its methods to keep up.

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“Large institutions can't adapt their processes to fit the software; instead, the technology should adapt to their needs.”   

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Scaling Up Compliance

For Boerman, one of the biggest concerns is the sheer volume of regulatory controls. To meet the standards they impose, you need a strong grasp of the minutiae of your data, the ability to zoom in on small details or step back and look at the big picture. That vision is what Boerman and his company provide. Their expert staff can quickly provide agile solutions adapted to the specific needs of a company and its processes. Large businesses use complex systems that need to properly connect, and they can’t change their ways of working just to meet the needs of a software package. Instead, Boerman and his team provide technology that adapts to its customers and helps them achieve compliance, while prioritising security.

 

The Challenge of Finding Investment

With some banks spending over a billion dollars a year on compliance, there’s plenty of money to support vital work such as that of Governance.com. But with so much attention on startups, it can be challenging for a company to get those funds as it expands in scale. “At this stage, startups may find themselves in a position where the support provided by the startup ecosystem is no longer sufficient, but they are still too small to attract venture capitalists,” Boerman says. “This transitional phase presents unique challenges for companies in their growth journey.” Having been rebuffed by venture capitalists after approaching them at the wrong stage in the finance cycle, Boerman has instead put an emphasis on organic growth, and that emphasis is paying off. Governance.com now has clients in over 80 countries and is looking to expand its offices outside of Europe. Companies will always need to comply with regulations, and to do that successfully, they’ll need something more than Excel.