SumIT vs Elysys

You are looking for alternatives to SumIT. Here you can compare the best Investment Management Software and other family office technologies based on our annual benchmark and comparison surveys.
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SumIt

Category
Accounting

SumIt offers simple, sophisticated family office software for complex family office accounting. Family office accountants are either underwhelmed or overwhelmed by their software. QuickBooks is too simple, while other solutions can seem too complex with unnecessary features.

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Financial reporting system

Elysys

Category
Consolidated Reporting

Elysys is a secure, scalable and integrated enterprise software for wealth management professionals working under several regulatory and compliance frameworks. Elysys is a technology specialist in the wealth management and structured finance space. Elysys is the company that pioneered the use of Microsoft’s next-generation ERP applications in the financial services sector, with a vision to bring the most innovative, comprehensive and cost-effective value proposition to the global family office industry.

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Company
Employees

  • 0-10

Revenue

-

Founded

  • 2022

Incorporated

-

Locations

  • New York City

Top 5 Markets

  • United States of America

Total AUM

  • $10 billion

Avg. AUM per client

-

Ownership

  • Owned by management
  • Clients are also owners


  • 50


–


  • 1999


  • Owned by management
  • External investors (neither clients nor staff)


  • Monaco
  • New York


  • London
  • Montreal
  • Hong Kong
  • Dubai
  • New York


  • Monaco
  • Switzerland
  • United Kingdom
  • Canada
  • Dubai


  • $200 billion


  • $2 billion

Client
Focus

  • Single Family Office
  • Multi Family Office
  • Accounting Firms

Secondary focus

-

-


Single-family offices


  • Individual wealth owners
  • Multi-family offices
  • Fund managers
  • Banks
  • Trust companies


  • 50 single and multi-family offices

Product
Main Tasks

  • Accounting
  • Consolidated Reporting

Top features

  • Accounts Payable
  • Bank Reconciliation
  • Brokerage Reconciliation
  • Entity Mapping
  • Entity Management
  • Document Storage
  • Family Office Cash Flow Statement

Assets supported

  • Cash & equivalents
  • Alternatives
  • Equities
  • Fixed income
  • Private Equity
  • Real Estate
  • Residential
  • Venture Capita;

Compliance

-

Whitelabel

  • No


  • Accounting
  • Consolidated reporting
  • CRM
  • Governance
  • Compliance
  • Portfolio management
  • Data aggregation
  • Risk management
  • Impact/ESG reporting
  • Dynamic integrated workflow management
  • Alternative asset management and tracking
  • Document management and AI assisted search
  • Performance reporting


  • Portfolio aggregation
  • Investment accounting
  • Front, mid and back office workflow
  • Holistic treasury management
  • Loans accounting
  • Risk and compliance
  • Performance calculation/attribution
  • Regulatory reporting, reporting database
  • Microsoft Azure security framework
  • CRM
  • Document management
  • General ledger / General Accounting
  • Budget
  • Aggregation of financial and non-financial assets
  • Partnership and trust accounting
  • Account payables and receivables
  • Consolidated reporting
  • Portfolio management
  • Client portal
  • Electronic banking
  • Direct secure connections to banks and brokers
  • Corporate management


  • All assets are supported


  • GDPR
  • MiFID II
  • SOC2
  • GAAP (UK, US, LUX, CH)
  • ASPE


  • No

Technology
Type Of Software

  • SAAS

Ecosystem

-

Integrations

  • Plaid
  • Finicity
  • Bill.com (pending)
  • Addepar (pending)

Mobile App

  • No

-


  • SaaS
  • Fully Standalone


  • Native Azure AD integration
  • Includes Multi-factor authentication, SSL encryption 
  • Azure AD security policy strengthening and enforcement
  • Security Audits


  • Microsoft


  • Dynamics 365 Business Central platform
  • Office 365, Power BI and Power Apps
  • Secure channels with banks and brokers
  • Bloomberg, Refinitiv, SIX, Xignite, EDI, etc..
  • European Central Bank
  • Bank of Canada
  • FED
  • Tradingview.com
  • Bills.com
  • Payment platforms


  • Yes