How to expedite your digital subscription book implementation

FundFormer addresses general partners’ worries over transitioning from manual to digital subscription documents by providing a smooth implementation process.

The traditional subscription process relies heavily on PDFs, spreadsheets, manual workflows, and weeks of communication between GPs, investors, fund administrators, and outside counsel. It’s an inefficient process during which it can take months for GPs to clear investors to close.

While GPs realize the benefits of digital investor onboarding — efficiency, speed, visibility — the fear of a lengthy and difficult implementation period often holds them back. Ontra dispels those fears with our structured implementation process.

GPs interested in learning more about FundFormer’s streamlined, digital subscription platform can schedule a demo today.

5 ways to expedite your electronic subscription docs implementation

Ontra has devised a method of smoothly implementing FundFormer with new customers in a matter of weeks, ensuring GPs can benefit from the full value of the platform as soon as possible. Unlike many of our competitors, we provide timeline estimates that include the entire implementation process, not merely the first draft of the digital sub-docs. GPs that mindfully adhere to our implementation plan can expedite their onboarding process.

1. Choose the internal implementation team

Switching to FundFormer requires a close relationship between Ontra and the GP. While we match a GP with a dedicated customer success manager, we encourage the firm to determine the team members who will participate in our kickoff and implementation calls right away. This internal team will be responsible for providing us with essential documents and information for the transition.

2. Participate in the Ontra kickoff call

Our CSMs, who are all change management certified, ensure our customers have insight into each step of the implementation before we begin. We understand how essential visibility is for internal change management. All the internal stakeholders whose work will change with e-sub-docs should be aware of the implementation process and timeline, including upcoming training opportunities.

The customer’s dedicated CSM also provides timing estimates for digitization once we have a signed master service agreement and access to finalized Word versions of the GP’s subscription documents. New customers’ implementation times will vary depending on whether Ontra will preload investors from previous funds.

3. Optimize your fundraise workflow

With digital investor onboarding comes new workflows. The customer’s dedicated CSM will help it and its service providers determine how to best incorporate FundFormer into its multi-stakeholder workflow. We consult the GP on the best workflow between its internal teams, fund administrator, and outside counsel. Then we train each party in how to use FundFormer to complete its parts of the workflow.

This step is crucial to ensuring full adoption by internal teams. The CSM documents each party’s role and responsibilities for the fundraise. Each role will interact with the platform in different ways that will be faster and more efficient than during the traditional subscription process.

4. Digitize your subscription books

FundFormer does the heavy lifting to turn your traditional sub-docs into digital forms with conditional logic. We create a white-labeled portal with a unique URL in which investors see questions relevant to their business type and tax status. Investors no longer have to figure out what to fill out on their own.

Additionally, we can digitize most tax forms based on existing templates within FundFormer, including:

• W-9
• W-8BEN
• W-8BEN-E
• Self-Certification Individual
• Self-Certification Entity
• Canadian Form – RC518
• Canadian Form – RC519
• Canadian Form – NR301

5. Complete user training

Ontra leads a comprehensive user training and Q&A session for stakeholders involved in fundraising. It’s essential that each person receive guidance on how to best use the platform to streamline their workflows. We find this promotes full internal adoption, which is why each FundFormer user within the GP, outside counsel, and fund admin receives a simulation training. We give them the opportunity to explore the platform and practice completing the tasks required of them during the fundraise.

When necessary, we hold additional training on a team-by-team basis.

White-glove service after implementation

Ontra’s role isn’t over once implementation is technically complete. We take our white-glove customer service seriously and encourage our customers to schedule check-ins on a routine basis.

We know anxiety can set in when new customers approach their first fundraise with FundFormer. We’re here to help with additional guidance and training when it comes time to clear investors to close.