Streamlined asset-tracking: K.E Skye’s success with Asora
K.E. Skye, founded in 2000, is a single-family office that began its journey with real estate investments in Thailand. Over the years, its portfolio expanded to encompass public and private markets across various asset classes. This case study explores how K.E. Skye successfully implemented Asora to manage and track the performance of their multiple assets on a single platform.
Asora is a SaaS solution for single and multi-family offices to track and oversee assets, automating data capture and providing digital on-demand reporting on the web and mobile. Asora provides a single secure location for all the family’s data. The data is protected with always-on encryption and robust security protocols. Time-consuming manual handling of data and report creation are replaced with automated data feeds, comprehensive data cleansing and enrichment and digital on-demand reporting.
About the Company
K.E. Skye
- Location Thailand
- Type Single Family Office
- Founded 2000
About the Service Provider
The problem to solve
K.E. Skye was looking for a simple and efficient way to track their portfolios across different asset classes in a consolidated manner. They also wanted to reduce the time spent organising performance data and monitoring their portfolios. They needed a single platform to serve as the central source of truth for all of their investment performance data.
Prior to implementing Asora, the office used to consolidate its quarterly reports into a single Excel spreadsheet. They had to manually calculate each desired metric to view the data every time. This process was time-consuming, and it required a considerable amount of effort to redo the reporting every quarter.
The main criteria for selection
K.E. Skye was primarily looking for a platform that could display the performance data of multiple asset classes, with a specific focus on private assets, in a consolidated view. Additionally, they wanted the platform to function as a database for data-sourcing purposes. Lastly, the overall design of the product and its reporting pages were also considered while looking for a platform by K.E. Skye.
Deciding to go with Asora
After an analysis of a number of competing products in the family office software space K.E. Skye opted for Asora because of the breadth of functionality and the user-friendly interface. Asora’s modern UX design and database function made it easy for them to collate and store their information. The transfer of private asset data was made easy with Excel templates. The portfolio information went through a few iterations. Once all the information was uploaded, the platform was easy for K.E. Skye’s team to understand.
Additionally, when K.E. Skye researched different products, they discovered that many were priced based on a percentage of AUM. The pricing structure of Asora is not based on AUM, which aligned with their requirements better.
The effects of using Asora
After implementing Asora, the office now spends significantly less time than before on organising and consolidating reports, as well as performing calculations (such as IRR, MOIC, and DWTR). The platform has become a crucial part of its back office, and it has helped them save around 50-60% of their time in gathering and reconciling quarterly performance data. As a result, K.E. Skye can now allocate more time to monitoring asset allocation and analysing new investments.
Lessons and advice for other family offices
Moving to dedicated software brings a lot of opportunity to increased analysis and oversight. During the implementation process, when adding information, it’s important to understand the functionality and analytics available and how the data you enter processes calculations and generates analysis. Looking back at the initial stages, the office realised that they should have taken more time to understand how the platform works before proceeding with the implementation.
Before deploying software, K.E. Skye recommends that other family offices should have a clear understanding of its functionality to avoid any additional work. It is advisable to analyse real-life processes and identify the steps where the technology can enhance efficiency. Prioritising those areas from the outset is crucial during the implementation phase.
Final reflections
K.E. Skye has experienced significant improvements in its asset management processes since adopting Asora. The software has helped them reduce the time spent calculating and compiling performance reports by more than half. Asora is now an essential tool in their back office, enabling them to focus on more crucial tasks. The benefits that K.E. Skye has gained from using dedicated software solutions demonstrate the potential advantages that family offices can have when they graduate from spreadsheets and automate their manual processes.
The responses in this case study have been verified by the Simple team.
Further Reading
Modernising 150 years of governance and entity management with DiliTrust
Family governanceA prominent family group, one of the Middle East’s oldest conglomerates, faced a growing challenge familiar to many multi-entity legacy businesses. As a fifth-generation family enterprise with over 60 companies reporting into several clusters, the group had gradually outgrown the tools and processes that once upheld its governance infrastructure. Critical workflows such as board communication, […]
Saving the inheritance: Maritime Capital’s property portfolio rescue
Real EstateTwo brothers built a successful UK property portfolio, which their children eventually inherited. The transfer split the assets between two branches of the family, essentially cousins. This split created significant uncertainty, sparked disputes, and ultimately jeopardised the inheritance. One side of the family realised they lacked adequate experience and expertise, so they sought assistance from […]
Simplifying lifestyle management with Albertine’s discreet digital concierge platform
Concierge ServicesManaging the lifestyle needs of wealthy families is no simple task. One family office responsible for both the financial and lifestyle management struggled to manage their day-to-day requests. Their team juggled communication via email, text, and phone calls. Oversight became difficult to maintain. Never mind delivering at the level of discretion families expect. Seeking a […]
Securing the digital footprint of a prominent family office
Cyber SecurityA prominent family with members ranging in age from 8 to 86 had a digital footprint that was as diverse as it was vulnerable. Daily activities like online shopping, social media and even gaming, inadvertently exposed their personal routines, locations, and relationships. This case study details how Crisis24 Cyber Protect helped each member take responsibility […]