How you currently stay informed

• How often do you receive formal performance and risk reporting from your managers? Options: Monthly, Quarterly, Monthly plus ad-hoc, Only on request
• Which specific reports do you rely on most when preparing materials for your investment committee? Options: Monthly factsheet with returns, Attribution report, Risk dashboard, Position-level holdings file, Liquidity / cash flow schedule, Other
• Tell me about the internal stakeholders who consume those reports and what each of them needs most from the data Options: CIO / Head of Investments, Portfolio managers, ODD / Operations, Finance / Accounting, External consultants, Other
• Walk me through the last time a routine report arrived later than expected or contained a material error, what happened and who had to react

When reports fail to show the whole picture

• If a monthly factsheet arrived with misstated exposures last quarter, what was the real cost to your decision process or committee? Options: Reputational strain, Delayed decisions, Additional due diligence, Reallocation of capital, Other
• How did your team detect that issue, automated checks or manual review, and how long did detection take? Options: Automated reconciliation, Manual analyst review, External consultant flagged it, We did not detect it proactively
• Who in your organization must be informed first when numbers look off, and what is the typical escalation path? Options: Investment team, Operations, Compliance, CIO, External consultant
• Which downstream approvals or workflows were delayed or impacted when reporting was unreliable? Options: Committee approvals, Cash calls/rebalancing, Compliance sign-off, Fee calculations, None

Events that would trigger emergency disclosure

• Identify the portfolio event that would prompt you to demand immediate position-level disclosure or a call from the manager Options: Large strategy drift, Significant personnel change, Unusual leverage increase, Liquidity mismatch, Regulatory inquiry, Other
• Walk me through a recent example when that type of event occurred and how you were informed
• What downstream processes or reports break inside your organization when you lack timely position-level detail? Options: Performance attribution, Risk limits monitoring, Compliance reporting, Liquidity planning, None
• Estimate the typical number of business days it takes to get a usable, reconciled position file after you request it Options: Same day, 1-3 business days, 4-7 business days, More than a week, Varies widely
• Point to the single disclosure failure that would cause you to pause new commitments to a manager

Other ways you are trying to get this visibility

• Who else are you currently relying on for ongoing reporting and transparency, and what value do they deliver that matters to you today? Options: Incumbent manager reporting, Internal reconciliation team, Third-party administrator, Consultant-managed reporting, No current provider
• Name any internal teams or projects that have proposed building this reporting capability rather than buying it Options: Internal data team, Operations, Finance, No internal proposal
• If you were to stay with your current approach, what concrete changes would have to happen for you to feel no additional work is needed? Options: Faster delivery, More granularity, Automated reconciliations, Clearer commentary, No changes would suffice
• List the top three features a new reporting solution must have to win your business today
• What percentage of your reporting budget this year is earmarked for tools, services, or integrations that improve LP transparency? Options: None, Under 10%, 10-25%, 25-50%, Over 50%

Technical and data readiness

• Assuming a requirement for nightly position feeds and a service account with read-only API access, could your team provide that within four weeks? Options: Yes, ready now, Yes, with minor approvals, Possible in 4-8 weeks, Not without significant changes, No
• Identify the systems that currently hold your position, transaction, and cash data Options: Portfolio management system, Custodian files, Prime broker reports, Internal ledger, Spreadsheet-based source, Other
• Are APIs available for those systems, and is there published documentation your integrators can use? Options: APIs available and documented, APIs available but limited docs, No APIs, SFTP only, No programmatic access
• Name the team or role that will approve data access requests and indicate their typical approval SLA Options: Operations (1-3 business days), IT (3-7 business days), Compliance (variable), Custody/Prime (7+ business days), Not yet identified
• Estimate the percentage of your position data that requires manual cleansing or mapping before it can be consumed by an external reporting platform Options: 0-10%, 10-30%, 30-60%, 60-100%
• Point to the single technical blocker that would kill an integration plan before it even began

What perfect ongoing reporting would change for you

• Imagine your quarterly review felt effortless, describe what the materials looked like and who inside your team felt relieved
• List the three metrics or visuals that would be on the top line of every report to satisfy your committee
• Describe how attribution and risk commentary should be framed so the committee can make timely decisions without follow-up calls
• Select the report cadence and delivery format that would cut your ad-hoc information requests the most Options: Monthly PDF + CSV, Monthly dashboard + CSV extracts, Quarterly detailed review + monthly highlights, Daily dashboard for managed accounts
• When reporting consistently validates a manager through stress periods, what would change about your oversight or allocation decisions? Options: Increase allocation, Maintain with less monitoring, Reduce frequency of meetings, No change

Decision triggers and timing

• Point to the pilot outcome that would shorten your procurement timeline to weeks rather than months Options: Accurate position reconciliation within sample window, Attribution matches internal models, Timely API feed delivery, Clear governance and SLA proposal
• Provide the number of business days your legal team typically needs to execute a standard data sharing agreement once commercial terms are agreed Options: Less than 5, 5-10, 10-20, More than 20, Unsure
• Provide the titles of the final approvers required for an ongoing reporting arrangement and indicate whether they have been briefed
• Assuming a pilot meets your expectations, what procurement or budget hurdles remain that could still block award? Options: Procurement review, Budget not approved, Legal terms, Data residency/compliance, None
• Is there a single internal concern that would stop you from moving forward even if the pilot is successful? If so, please describe

Practical next steps and quick wins

• Which minimal pilot scope would provide the fastest, most convincing evidence of value to your team? Options: One fund monthly factsheet + holdings, Attribution for one strategy, Risk dashboard for one account, Managed-account reconciliation for one client
• Identify the single internal point person you would assign to run a pilot and their availability window
• What timeline would you consider acceptable to complete a small pilot from kickoff to review? Options: 2 weeks, 1 month, 2 months, 3 months
• Which quick win would make your investment committee more comfortable in the near term, for example improved NAV reconciliation or a clear risk heat map Options: NAV / PnL reconciliation, Top 10 exposures report, Stress-test scenarios, Attribution variance report
• Finally, what would you like us to prepare for your pilot kickoff so your team can make a yes/no decision within your preferred timeline? Options: Detailed integration plan, Sample reconciled report, SLA and governance draft, Cost and commercial term outline, Other

• Solution Experience Session

• Confirm the current state and its cost
• You confirm the demonstrated reports meet your investment committee's timeliness and position-level transparency requirements.
• Provide a representative managed-account portfolio file, three recent month-end valuations, and your current reporting recipients and governance rules.
• You confirm the attribution outputs reconcile with your existing records and remove the key manual reconciliation steps.
• Run a live monthly report using your portfolio
• Run the provided portfolio through the IR reporting pipeline and deliver a sample monthly factsheet, attribution report, and risk summary before the follow-up session.
• Agreement on the remaining technical dependencies and the evidence needed before a procurement recommendation.
• Walk through governance and access scenarios
• Document acceptance criteria for report timeliness, attribution reconciliation, and access controls.
• Demonstrate timing, error handling, and exception reporting
• Schedule a technical follow-up to validate integration endpoints and field mappings.
• Validate fit with a direct question

• Solution Experience Session
• Solution Experience Deck
• Solution Brief — Investor Reporting

• meeting
• slides
• document

• Monthly Performance Factsheet
• Monthly Attribution Report
• Monthly Risk Summary
• Quarterly Portfolio Letter
• Annual Investor Meeting with Portfolio Managers
• On-demand Operational Due Diligence Response
• Position-Level Commentary Package
• Investor Call During Market Dislocation
• Customized Managed Account Reporting
• Consultant Database File Delivery
• Secure Data Feed Integration
• Leverage and Liquidity Snapshot
• Personnel Change Notification Package
• Regulatory and Compliance Update Brief
• Trade-Level Audit Trail Package

Monthly Performance Factsheet

• Do you require the factsheet to include net-of-fees and gross-of-fees NAV series? Options: Net-of-fees, Gross-of-fees, Both
• Which benchmark indexes should be shown on the factsheet (provide ticker or index name)?
• How should returns be presented across horizons (monthly, year-to-date, 1/3/5-year)? Options: Monthly, Year-to-date, 1-Year, 3-Year, 5-Year, Custom
• Who on your reporting team will verify month-end NAV, fee adjustments, and any manual overrides?
• Specify tolerances for performance rounding and data freshness for the factsheet (for example: NAV within 1 basis point; data available by T+5).
• Provide a sample factsheet or preferred template for layout, legend treatment, and logo placement.

Monthly Attribution Report

• Do you require multi-period contribution attribution using Brinson-style allocation and selection decomposition? Options: Yes, No
• Identify the primary attribution granularity you need: portfolio-level, sleeve-level, or position-level. Options: Portfolio, Strategy sleeve, Position-level
• Describe the trade-level inputs you can supply: executed blotter, fills file, or only end-of-day positions. Options: Executed blotter, Fills file, End-of-day positions, Other
• Which currency conversion method should apply for cross-currency positions (trade-date FX, monthly close FX, or daily FX)? Options: Trade-date FX, Monthly close FX, Daily FX
• Indicate desired visuals for attribution output (waterfall, contribution table, or bar chart) and whether CSV export of underlying rows is required. Options: Waterfall, Contribution table, Bar chart, CSV export
• Estimate acceptable variance between our attribution results and your internal model at go-live in basis points.

Monthly Risk Summary

• How often should value-at-risk (VaR) and stress-scenario snapshots be produced each month (for example: monthly close, weekly rolling)? Options: Monthly close, Weekly rolling, Daily summary
• Which risk models must be included: factor-based, historical VaR, expected shortfall, or position-level Greeks? Options: Factor-based, Historical VaR, Expected shortfall, Greeks
• Would you require scenario decomposition using your specified stress cases or the platform standard scenarios? Options: Your stress cases, Platform standard scenarios, Both
• Who in your organization will sign off on monthly risk exceptions and any model parameter changes?
• Specify data latency tolerance for risk inputs (for example: positions within 24 hours of month-end; PnL within 48 hours).
• Provide target thresholds for early-warning flags such as leverage or VaR increases (for example: leverage > 2.0x; daily VaR increase > 50%).

Quarterly Portfolio Letter

• Which stakeholders should receive the quarterly portfolio letter and in which format (PDF, HTML, PPT)? Options: PDF, HTML, PPT, Other
• Describe the expected narrative depth: executive summary, detailed strategy review, and position-level commentary. Options: Executive summary, Strategy review, Position-level commentary
• Who within your governance process must approve letter language and compliance disclosures before distribution?
• When should the draft letter be available relative to quarter-close (for example: within 10 business days)? Options: 5 business days, 10 business days, 15+ business days
• Indicate whether performance tables and risk snapshots should be embedded in the letter or attached as appendices. Options: Embedded, Attached as appendices, Both
• Provide any mandated disclosures or regulatory boilerplate that must appear in quarterly communications.

Annual Investor Meeting with Portfolio Managers

• Select the preferred meeting format: in-person, virtual, or hybrid. Options: In-person, Virtual, Hybrid
• Who from your team typically attends investor meetings (for example: CIO, head of risk, operations lead)?
• Specify desired agenda items and time allocations including portfolio manager presentation, Q&A, and operations due diligence breakout.
• Provide AV and secure data access requirements for live portfolio walk-throughs, including access to your reporting dashboards or live P&L screens.
• Indicate any confidentiality or recording restrictions for the meeting and for post-meeting materials. Options: No recording, Recording allowed, Restricted access to materials
• Estimate the number of external attendees and any special accommodations required such as breakout rooms or simultaneous translation.

On-demand Operational Due Diligence Response

• Identify the operational documents you typically request: audited financials, SOC report, custody agreements, or trade allocation policies. Options: Audited financials, SOC report, Custody agreements, Trade allocation policies, Other
• How quickly do you expect initial responses to an operational due diligence request for standard documents? Options: 48 hours, 5 business days, 2 weeks
• Specify whether you require redacted or unredacted documents for audit trails and the level of anonymization expected. Options: Redacted, Unredacted, Partial redaction
• Who on your team is the primary point of contact for follow-up technical questions about operations or controls?
• Provide acceptable evidence for control assertions (for example: SOC 1 Type 2 covering the reporting period).
• Indicate whether you require portal access to retrieve documents or prefer encrypted email or secure file transfer. Options: Portal access, Encrypted email, Secure file transfer

Position-Level Commentary Package

• Describe the level of detail you expect in position-level commentary: top 10 positions, all positions above a NAV threshold, or full position-level notes. Options: Top 10, Positions >1% NAV, Full position-level
• Who will approve position-level commentary for compliance review prior to distribution?
• Specify the data fields that must accompany commentary such as opening position, closing position, P&L contribution, and notional exposure. Options: Opening position, Closing position, P&L contribution, Notional, Other
• When should position-level commentary be finalized relative to month-end and factsheet publication (for example: T+3, T+5)? Options: T+3, T+5, T+10
• Provide examples of acceptable language for sensitive positions that may require limited disclosure or redaction.

Investor Call During Market Dislocation

• Select the trigger thresholds that should initiate an investor call during market dislocation (for example: daily NAV move >10%; leverage shift >25%). Options: Daily NAV move >10%, Leverage shift >25%, Liquidity event
• Who should represent your governance team on the call to discuss stress response and next steps?
• Specify the cadence and format for follow-up updates after the initial dislocation call (for example: daily written update, weekly call). Options: Daily updates, Weekly updates, Ad-hoc as events occur
• Provide the preferred secure channel for presenting sensitive position-level information during the call (screen-share, secure portal link, or encrypted PDF). Options: Screen-share, Secure portal link, Encrypted PDF
• Indicate whether you require immediate attribution of the dislocation impact by factor and position for the affected period. Options: Yes, No

Customized Managed Account Reporting

• Specify the managed account templates you require such as client-specific factsheet, custom attribution rules, or separate fee-schedule reporting. Options: Client-specific factsheet, Custom attribution, Separate fee schedule, Other
• Who will own mapping between your managed-account identifiers and our account keys for the integration?
• Provide the acceptance criteria for go-live including reconciliation thresholds for NAV (basis points) and required holdings match percentage.
• Specify preferred delivery frequency and format for managed-account statements (for example: daily CSV, monthly XML, SFTP push, or API). Options: Daily CSV, Monthly XML, SFTP transfer, API push
• Explain whether you require segregation of client-level cash and securities for reporting versus a consolidated fund view. Options: Segregated client-level, Consolidated only, Both

Consultant Database File Delivery

• Which consultant file schema do you require: consultant-specific CSV layout, standardized GL export, or a custom mapping? Options: Consultant-specific CSV, Standardized GL export, Custom mapping
• Describe the fields that must be included for consultant databases such as gross return, net return, strategy tag, and assets under management. Options: Gross return, Net return, Strategy tag, AUM, Other
• When must consultant files be delivered relative to month-end (for example: T+5) and by what delivery channel? Options: T+3, T+5, T+10
• Who will confirm schema changes when consultant reporting requirements evolve or when a new consultant requests a different mapping?
• Specify compression and encryption requirements for nightly file drops, including SFTP or secure API token methods. Options: SFTP, Secure API token, Encrypted ZIP

Secure Data Feed Integration

• Identify the source systems for secure feeds such as trade blotter, order management system, portfolio accounting system, or prime broker positions feed. Options: Trade blotter, Order management system, Portfolio accounting, Prime broker positions, Other
• Specify the integration method you prefer: SFTP, secure API endpoint with token authentication, or broker FTP. Options: SFTP, API (token), Broker FTP, Other
• Provide acceptable SLAs for feed latency and availability (for example: positions available by T+1 08:00 ET; 99.9% uptime).
• Who will provision and rotate integration credentials and approve IP allowlists on your side?

• Master Services Agreement (MSA)
• Statement of Work (SOW)
• Commercial Order Form & Fee Schedule
• Service Level Agreement (SLA)
• Data Processing Agreement (DPA)
• Data Access & Permissions Addendum
• Ad-hoc Due Diligence Protocol
• Governance & Escalation Addendum
• Mutual Non-Disclosure Agreement (NDA)
• Regulatory Compliance Addendum (SOC2 / Data Residency)

• Go-live Health Check
• First Measurement Review
• Acceptance Gate Decision
• Ongoing Quarterly Performance and Risk Review

• Distribute an investor feedback summary and the agreed follow-up actions to stakeholders within three business days.
• Schedule the acceptance gate meeting and circulate the pre-read containing evidence mapped to Solution Scope criteria.
• Restate Solution Scope acceptance criteria and numeric targets
• Document pass or fail for each acceptance criterion recorded in Solution Scope.
• Capture the buyer's formal acceptance decision and named signatory when enterprise approval is required.
• For any failed criteria, agree remediation tasks, owners, and target completion dates to achieve acceptance.
• Publish the acceptance decision document with pass/fail status for each Solution Scope criterion and the named signatory.
• Open remediation tickets for failed or conditional criteria with target resolution dates and verification steps.
• Confirm the operational go-live status in the investor reporting workspace and enable ongoing monitoring cadence.
• Performance trend review
• Confirm that the monthly report on-time delivery rate and data discrepancy counts remain within acceptable ranges versus Solution Scope targets, or define corrective action if not.
• Capture and prioritize investor feedback and enhancement requests for the next operational quarter.
• Ensure all high-priority defects or data issues have mitigation or remediation plans with dates.
• Update the enhancement backlog with priority, estimated effort, and target quarter for delivery.
• Resolve high-priority data discrepancy tickets within the agreed SLA and document reconciliation outcomes.
• Reconfirm success criteria and owners
• Integration endpoints designated for reporting are confirmed live with no unresolved blocking errors.
• All targeted investor contacts have portal access and have received a test report or factsheet.
• All open issues are owned and have target resolution dates published in the shared workspace.
• Provide consolidated list of open technical issues with reproduction steps and target fix dates.
• Enable access for remaining users and confirm test report delivery to each recipient.
• Publish a one-page go-live status and remediation plan to the shared workspace within 48 hours.
• Present first-period outcome data versus Solution Scope targets
• Establish whether the monthly report on-time delivery rate is tracking toward the Solution Scope target and document deviation reasons.
• Agree a remedial plan to reduce average time to fulfill ad-hoc diligence requests to the Solution Scope SLA.
• Confirm the set of issues that must be closed prior to the acceptance gate and the timeline for each.
• Deliver a detailed metric report showing on-time delivery percentage, sample missed deliveries, and proposed fixes.
• Create workflow updates for ad-hoc request intake and escalation, with expected SLA improvement and implementation date.
• Present outcome data against each acceptance criterion
• Risk indicators and attribution exceptions
• Deployment and data pipeline validation
• Diagnose gaps and root causes
• Document pass/fail per criterion
• Early adoption signals and access validation
• Investor feedback and open tickets summary
• Agree corrective actions and timelines
• Open issues triage and ownership
• Confirm readiness path to the acceptance gate
• Enhancement and backlog prioritization
• Formal acceptance decision and signatory capture
• Agree immediate remediation actions
• Agree remediation items and resolution timeline for any failed or conditional criteria
• Short status check on open remediation items