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What is Backstop?

Backstop Solutions Group in Chicago provides cloud-based technology supporting hedge funds. These applications include tools for investment research and analytics, accounting, a financial services specific CRM, and investor relations and document sharing tools, as well as investment portfolio management and…

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Backstop has proven to be an invaluable tool for organizations, solving a variety of needs and offering analytical tools that save time …
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What is Backstop?

Backstop Solutions Group in Chicago provides cloud-based technology supporting hedge funds. These applications include tools for investment research and analytics, accounting, a financial services specific CRM, and investor relations and document sharing tools, as well as investment portfolio…

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Product Details

What is Backstop?

Backstop Video

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Backstop Technical Details

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Reviews and Ratings


Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Backstop has proven to be an invaluable tool for organizations, solving a variety of needs and offering analytical tools that save time and effort. Users have had a great experience with Backstop, finding it helpful in streamlining and organizing workflow. It serves as a CRM, which is essential for sales organizations. The platform allows for easy logging of returns and other important metrics, ensuring accurate record-keeping. Additionally, Backstop helps in organizing investor information and makes it easily accessible, acting as a centralized hub for tracking investor activities. The software allows for customization of data fields to meet specific needs, providing flexibility for different teams. With its ability to track documents received from investment managers, centralize reporting details on funds and investor accounts, and serve as a one-stop shop for documenting call notes and distributing them to team members, Backstop proves to be not only a useful CRM platform but also an efficient tool for the Hedge Fund industry. It aids in email distribution, gathering client contact information, and eliminates the need for manually updated spreadsheets.

Furthermore, Backstop plays a crucial role in tracking client communications, AML compliance, transactions, documents, and performance. It assists in improving organization and targeting of client outreach by tracking historical points of contact and dialogue. The software also allows for marketing pipeline tracking and tracking current investor interactions and account details. Backstop serves as a database for storing notes and quickly accessing information related to managing and processing CRM data. It further helps in tracking capital calls, distributions, and performance analyses. With its relationship management features such as document permissioning and an investor portal, Backstop provides users with secure access to information while reducing client servicing time. It is also highly regarded for its assistance in verifying portfolio holdings and providing easy access to supporting documentation.

The software's functionality extends beyond investment management needs. It eliminates manual calculations by generating scheduled reports and offers total portfolio analysis capabilities along with real-time reporting. For endowment/foundation investment offices, Backstop efficiently houses all relevant data required for portfolio oversight and management. It allows for easy preparation of investment analysis reports and provides performance insights on a yearly basis. Users have found it to be a time-saving tool for tracking documents, relationships, and other information, making it a valuable asset for their teams. The software's continuous innovation has led to significant improvements over the years, garnering positive overall experiences from users.

While users have expressed satisfaction with Backstop, there is room for improvement in terms of the interface and plugins to compete with other investment analysis software. However, customers have praised the top-notch support provided by the Backstop team. They have found the responsive and professional support team to be readily available to assist with any questions or concerns. Users have appreciated the team's assistance in resolving issues and accommodating bespoke requests.

Backstop has been viewed as a central hub for investment management work, enabling teams to track meetings, manage a database of documents, and receive support for system initiatives. The platform has been extensively used by teams across different departments, resulting in a positive overall experience. Users have witnessed significant improvements in the software over the years, thanks to Backstop's continuous innovation with the end user in mind.

The Backstop Portal has streamlined the dissemination of investor documents, replacing individual emails and serving as a website host. Meanwhile, Backstop CRM has proven to be intuitive and user-friendly, with users finding it great for tracking the fundraising process compared to other FinTech CRM systems. It serves as a cloud-based CRM that centralizes business contacts, collaterals, and data, facilitating information sharing across departments.

Users rely on Backstop for a wide range of tasks such as tracking notes from meetings and calls, portfolio oversight and management, sustainable planning, research analytics, financial planning, and capital calculations. The software has been instrumental in making safer investment decisions by providing robust capital calculations and facilitating solid financial planning. The accounting department particularly relies on Backstop for safer decision-making based on precise calculations while finding it easy to use.

Overall, users have been confident that Backstop helps them make informed investment decisions. However, they also highlighted the need for improvements in the interface and plugins to compete with other investment analysis software. Nevertheless, they appreciate Backstop's continuous development efforts and exceptional customer service.

Users recommend several key actions when using Backstop Solutions Suite. First, they suggest modeling data management clearly and using Backstop to establish it well. This recommendation highlights the importance of properly organizing and managing data within the system. Second, users advise spending time with the sales and technical team to understand the connectivity to their accounting solution and interfaces to third parties. This recommendation emphasizes the need for a thorough understanding of the product's integration capabilities. Lastly, users recommend arranging a demo to see the product for oneself. This suggestion underscores the value of firsthand experience in evaluating Backstop Solutions Suite.

Attribute Ratings


(1-3 of 3)
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Angela Alessandria O'sullivan | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Backstop opens the doors for safer investments with robust capital calculations that are generated with precise analysis to know which is the best option, the accounting department uses this tool to make safer decisions according to said calculations, it is a platform that is based on the cloud that consolidates and boosts portfolio management, it is easy to use by the entire accounting team, they have been using it for about two and a half years and we are sure that the investments are calculated to know if it is a good decision.
  • Accurate calculations to make better decisions.
  • Robust portfolio management.
  • It may not have many customization features, this is the only problem.
Every accounting department must have Backstop to perform safe investment calculations based on stable financial compliance metrics according to the portfolio management of each company, my main recommendation is to use Backstop daily in the accounting department so that they can appreciate the good results of investments.
  • Accounting calculations based on financial data.
  • Portfolio management.
  • Every investment goes through Backstop's robust analysis to know its profitability in the short and long term.
  • Saving time and money by making the right decisions.
wilson bruno | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Backstop has made sustainable planning where investors and business players use the knowledge shared to implement new investment plans. Furthermore, Backstop conducts research analytics, a form that improves the results that guide new investment plans. The financial planning and capital calculations are also facilitated by Backstop, making solid plans and decisions.
  • The portfolio planning and investment analysis is done well
  • The cost management and revenue generations
  • The accuracy of the decision rule
  • Poor communication procedures
  • Lack of specific OS support
  • No mobile version for Backstop
Backstop makes planning and selecting the portfolio efficiently. There is a candid assistance in matters of resource utilization. Moreso, Backstop has a cost accounting notion, which makes the company control the expenses they make. Finally, Backstop has classical research procedures where analysis and decisions arrive after extensive assistance and evaluations.
  • Sustainable research procedures
  • Reliable investment plans
  • Extra cost management procedures
  • Business ends up profiting
  • The chances of investing in the wrong projects don't exist
  • The analytical assistance from Backstop increases more investment plans
April 09, 2020

Backstop Review

Sean Carr, CFA | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Backstop is used by our investment team for tracking notes from internal/external meetings and calls, as well as for portfolio oversight and management through the private equity module.
  • Storage of notes from calls and meetings.
  • Tracking portfolio holding balances, transactions, and IRRs/MOICs.
  • Allowing flexibility for client-defined uses.
  • Simplicity, ease of use (hard to get everyone on the team on the same page for how to use it).
  • Opportunities have been really hard for us to leverage.
  • It seems like it's geared towards salespeople sometimes instead of portfolio managers, etc.
I think for people who are in investment sales or portfolio management, Backstop can be an incredibly valuable resource.
  • Makes our team more efficient (i.e. less people needed for admin work).
  • Allows PMs to spend more time on their jobs and less on systems maintenance/tracking.
  • Increases transparency across teams (other teams can log into Backstop to see the latest updates).
  • Zoom
I have not used or evaluated any Backstop competitors. Freestone already used Backstop when I started.
Backstop support is fantastic. They always pick up the phone without a wait and are highly knowledgeable, I rarely need more than 5 minutes to fix an issue.
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