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GroFin Selects FrontInvest Alternatives to support Direct Private Investments

eFront, the leading software solutions provider for the financial industry, today announced that GroFin has selected eFront’s FrontInvest Alternatives to support its small and medium enterprise (SME) investment and support operations. FrontInvest Alternatives is the global
forerunner in alternative asset management solutions.

With 100 employees and managing $270 million of assets, GroFin invests directly in small and medium enterprises (SMEs) as a multi-national SME finance specialist and development company. GroFin has pioneered a solution for SMEs, which offers financing and personalized support to businesses that demonstrate the potential to generate profit in the long term. This innovative offering increases the businesses’ chances of success.

In order to meet the increasing pace of the business’s activity and improve internal control and risk management, GroFin was looking to replace Excel. They needed a solution that could support all their core operations in South Africa and Sub-Saharan Africa. GroFin approached eFront with the objective of selecting a single portfolio management tool that could perform both fund and loan management tasks.

GroFin’s management committed to a thorough selection process, identifying twenty six solutions specializing in private equity and loan management. The software solution was required to integrate a large range of business functionalities including CRM and document management, deal flow management, portfolio management, and loan management as well as accounting and reporting. FrontInvest was
shortlisted with four other software solutions and proved to be the only suite able to support private equity management with the strongest loan management module. Also eFront proved to have a genuine local commitment.

“eFront’s Web-based solution will allow us to streamline and improve our core operations in the nine countries in which we operate. With this one comprehensive solution, we will be able to manage everything from a fund perspective. The potential for us to automate and systematize complicated processes makes this a very exciting project to roll out,” said William Morkel, Chief Finance Officer (CFO) at
GroFin. “We selected eFront following an extensive selection process. Through this process, we found that FrontInvest was the only solution tailored to our specific needs, namely managing sophisticated loan management and complex fund structures.”

“The comprehensiveness of eFront solutions and proven local experience enables us to efficiently and assertively expand our operations in South Africa. FrontInvest will provide GroFin with integrated, bestpractice functionality and a flexible, extensible platform on which to grow its business,” said Jean-Philippe Gireaud, Area Sales Manager at eFront. “We believe GroFin’s choice in favor of FrontInvest brings to
eFront a prestigious reference in the South African SME finance sector.”