TeshCorp

BACKGROUND

Introduce your business and what you do there.

Glide Capital was started in early 2015 to provide wealth management firms with a solution to custom build well-diversified portfolios within the private credit industry. Our web portal is an integral part of our process because we use it to show our clients our due diligence process and portfolio building tools. Clients can login to access account balances and information on their portfolio. I am a partner.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with TeshCorp?

We have a very unique service in that we are building out an infrastructure which wealth management firms can leverage to build private credit portfolios. It is a unique asset class and it is imperative for us to be able to show our clients our due diligence process, the way we think about this strategy, and build portfolios. It was imperative for us to have an experienced group leading the tech development.

SOLUTION

What was the scope of their involvement?

TeshCorp built us a web portal which is complex. It’s not your typical website. We wanted to build a system that combines databases with different pages that are easy to navigate. We need to be able to enter information that then updates other parts of the website when a fund is approved. What we’ve done is create a big database in order to track all our managers that we speak with, track all the notes and conversations we have with them, and also track key information that’s part of our due diligence process. We track performance and liquidity and many other data points. Once a manager is approved by an administrator for the website, the client advisor side of the web portal is updated with quantitative and qualitative information on the approved managers. It’s really helped us create a system that starts with a database but translates over into other parts of the web portal for other people to see. Our website also has research reports on the manager and also has quantitative information. So we track our monthly performance and have various combinations of investments to determine how well a portfolio would do. We also have it hooked into our system where we load information for our investors who can come in and check their account balances. We have wealth management firms that can come in and see all their clients’ information. We had to develop a system that’s based on certain privileges of what you can view. If we log in ourselves, we get to see the due diligence on any manager that’s part of our pipeline.

How did you come to work with TeshCorp?

One of my partners has known Eli [Obidia, Principal] for a while. When we started this company, we tried to go cheaper at the beginning in order to save money in the website design. But when we needed to build out this infrastructure, we needed somebody that was not only sophisticated and had really good experience in the area of programming but also experience in the way that you could sit with them and tell them what it is you’re trying to do and they’d know exactly what you’re talking about. He understood it right away.

How much have you invested with TeshCorp?

We have spent $50,000.

What is the status of this engagement?

We’ve been working with them since July of last year. It’s ongoing; it’ll never stop.

RESULTS & FEEDBACK

Could you share any evidence that would demonstrate the productivity, quality of work, or the impact of the engagement?

We use it every day. We have a manager database of 200+ funds that we’re going through and tracking. We’ve approved 15 of those. We’re doing web demonstrations on a daily basis to wealth management firms. There could be people coming into the office or doing something online. Our business is starting to grow. We didn’t start marketing it until 2016. Our firm has about 60 million under management now. We’ve got a long way to go, but what they built is a big part of it. Otherwise, it’s tough to sell using words without seeing the process.

How did TeshCorp perform from a project management standpoint?

Very well. I know the complexity of this project. When we have meetings and discuss what we’re doing, I know he [Eli Obidias] gets it because he’s very active in those conversations. He asks the right type of questions in order to get the answers. Then he does the programming and he contacts us if he has any follow up questions. When he’s done, we test it and provide feedback. He’s well-versed in this area and the process is very good. It’s not constant questions and delays. He says: "This is how much time it’s going to take me", and it’s always very close. When he says something, you can count on him. He’s always done a very good job. There are little cosmetic fixes, but when he presents us with something, I’m always looking forward to it because I know it’s not going to be a mess.

What did you find most impressive about TeshCorp?

When it comes to programmers, there’s a lot of people that can program well but they don’t always know what you’re talking about because you’re in a different industry. There are only certain personalities in the tech world who get the macro elements of what you’re trying to do. That’s one of his big strengths; being able to understand what you’re trying to do. You don’t have to spend a lot of time going through that explanation. He has a lot of experience to be able to guide you and give suggestions.

The web portal has a lot of intricacies to it - the right permissions for users. I haven’t seen one mistake when it came to that. When it came to our systems of publishing from one space to another it’s always working. The other part is we’re putting a ton of information into it. We upload documents and there’s lots of notes. One concern I had was that we’re putting so much information in that it’s going to flow down the web portal every time it loads. But it’s not a slow site at all. I’m not running into the same problems with his work as I have with others.

Are there any areas TeshCorp could improve?

He’s good at what he does.