Prime Quadrant to Automate Upwards of 90% of Data Processes with Canoe Intelligence
NEW YORK, May 21, 2024 – Canoe Intelligence (“Canoe”), the platform for smarter alts management, today announced a new client engagement with Toronto-based Prime Quadrant, serving more than 200 affluent families across North America.
Prime Quadrant has engaged Canoe Connect to automate its alternative investment document collection workflow and Canoe Intelligence to systematize its data extraction processes. Drawn to Canoe’s tech-first approach and established reputation as a firm, Prime Quadrant ultimately selected Canoe’s technology for its emphasis on transparency, highlighted by the comprehensive control it offers across mapping logic and validation rules.
Previously, Prime Quadrant dedicated two full-time employees to focus on application data management-related tasks. By partnering with Canoe, the aim is to free up these employees to focus on higher-impact work, such as creating more robust reports in Addepar. The seamless integration provided by Canoe’s partnership with the firm further bolstered the decision, as Prime Quadrant is already an Addepar user.
“We’re excited to get our engagement with Canoe officially started. After implementing the Canoe and Addepar platforms in tandem, we see the potential to automate upwards of 90 percent of our data processes via the integration,” said Andrew Doman, Chief Operating Officer of Prime Quadrant. “With this combination of tech enhancing our team’s efficiency, we anticipate eliminating reporting errors, significantly improving our time to analytics, and enabling us to service a greater number of clients with the same amount of resources.”
Prime Quadrant is the latest addition to Canoe’s client roster. Today, the firm works with over 300 institutional investors, asset servicers, capital allocators, and wealth managers in North America, Europe, and Asia.
“Having personally known the organization for a while, it’s especially gratifying to be able to welcome Prime Quadrant as a new Canoe client,” said Peter Clancey, Head of Family Office Sales at Canoe Intelligence. “Our mission is to empower the industry to manage alts, smarter, and that aligns exactly with what the Prime Quadrant team was looking for—to automate their application data management processes so their people could be more efficient and spend more time on impactful work. With Canoe, these processes don’t have to be manual anymore. Our platform offers an unparalleled level of transparency, providing additional control over the process unmatched by other providers.”
This news follows the recent commercial launch of Canoe Asset Data, an innovative solution to the industry-wide challenge of accessing and using complete, timely, and accurate asset-level data. Toward the end of 2023, Canoe released a number of new product offerings, including Canoe Pro, a comprehensive solution that integrates expert services into the client experience. These product developments build upon Canoe’s recent successes, including 100% year-over-year growth in 2023. Canoe continues to advance operational excellence through the expansion of its platform and product suite, exemplifying its commitment to innovation and industry-leading product development in the alternative investment industry.
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About Canoe Intelligence
Canoe Intelligence (“Canoe”) is a financial technology company dedicated to advancing alternative investment intelligence for institutional investors, capital allocators, wealth managers, and asset servicing firms. Canoe empowers clients with technology, data, and insights to manage alternative assets more efficiently, accurately, and confidently. With a commitment to innovation and excellence, Canoe is redefining the future of alternative investment data management.
About Prime Quadrant
Prime Quadrant serves more than 200 affluent families across North America and consults on CA$22+ billion in assets. Our mission is to empower families for the future and assist them across the full range of their financial, social, and human capital needs. Our culture is the Prime Quadrant PATH – we are Purposeful, Authentic, Tenacious and Humble. We are deeply grateful for the work we are privileged to do, the wonderful families we are fortunate to serve, and the exceptional team around us.
MEDIA CONTACT:
Betsy Miller Daitch
Canoe Intelligence
+1 443-690-6200
bdaitch@canoeintelligence.com