--- title: "Next Matter vs Juniper Square: Orchestration for Regulated Fund Operations" description: "Juniper Square pairs a unified platform with its own outsourced fund administration staff; Next Matter is an orchestration layer that keeps fund operations in-house, governing the systems and team you already have with no-code workflows and maker-checker approval." lang: en json-ld: | { "@context": "https://schema.org", "@graph": [ { "@type": "Organization", "@id": "https://nextmatter.com/#organization", "name": "Next Matter", "legalName": "Daizy NM Limited", "url": "https://nextmatter.com", "logo": "https://nextmatter.com/__l5e/assets-v1/aab354c2-e169-46fe-8e9b-0e78438471d3/nextmatter-logo.svg", "description": "Next Matter is the orchestration platform for regulated financial operations - purpose-built for asset managers, fund administrators, and wealth and wealthtech firms, not a generic workflow tool - combining AI agents, your existing systems and human approvals with governance and a complete audit trail.", "sameAs": [ "https://www.linkedin.com/company/nextmatter", "https://www.daizy.com" ] }, { "@type": "WebSite", "@id": "https://nextmatter.com/#website", "url": "https://nextmatter.com", "name": "Next Matter", "publisher": { "@id": "https://nextmatter.com/#organization" }, "inLanguage": "en" } ] } --- [![Next Matter Logo](/__l5e/assets-v1/aab354c2-e169-46fe-8e9b-0e78438471d3/nextmatter-logo.svg)](/) - [Solutions](/solutions) [ grid\_view Solutions Overview Personas, capabilities, and proof ](/solutions)[ smart\_toy AI Orchestration Coordinate agents across your stack ](/solutions/ai-orchestration)[ library\_books Workflow Library Remix production-ready workflows ](/remix) Case Studies [ ![Ocorian](https://cdn.prod.website-files.com/69a7f71677d8045f0f2d982a/69a7f71677d8045f0f2da4e8_Ocorian_trustbar.svg) Ocorian 1,800 Employees • Fund Administrator ](/case-studies/ocorian)[ ![Trade Republic](https://cdn.prod.website-files.com/69a7f71677d8045f0f2d982a/69a7f71677d8045f0f2da4e9_traderpublic_trustbar.svg) Trade Republic 10M Customers • Online Trading Platform ](/case-studies/trade-republic)[ ![b2Venture](/__l5e/assets-v1/40232f5e-b66d-45f6-8d04-8be40304d172/b2venture-logo.png) b2Venture $800mn AUM • Venture Capital Firm ](/case-studies/b2venture)[ ![Swan](/__l5e/assets-v1/ef4919d4-3042-430f-b1a2-10b7da14c889/swan-logo.webp#lh=1500x401) Swan BaaS leader • Embedded Banking Platform ](/case-studies/swan) - [Platform](/platform) [ hub Platform Overview Built for Fund Operations ](/platform)[ build Workflow Builder Build long-running orchestrations ](/workflow-builder)[ smart\_toy AI & Automation Agents, models and guardrails ](/ai-and-automation)[ extension Integrations Core Ledger & Ecosystem Connectivity ](/integrations)[ verified\_user Governance & Audit Approvals and a full audit trail ](/governance-and-audit)[ shield Security SOC 2, data residency ](/security) - Resources [ forum Ask a Technical Question Chat with the docs AI assistant ](https://help.nextmatter.com/docs/integrate-across-tools?assistant)[ campaign Opinions Perspectives from our team ](/opinions) [Sign in](https://app.nextmatter.com/login) [Apply](/book-a-demo) balance Comparison # Next Matter vs Juniper Square: Orchestration for Regulated Fund Operations Juniper Square combines a unified platform with its own fund accounting, investor services and treasury staff, so the work moves to a third party. Next Matter keeps fund operations in-house, orchestrating and governing the systems and team you already have. [Book a demo](/book-a-demo) [See how it works](/platform) ## At a glance A factual, feature-by-feature view of how the two approaches differ for private markets fund administration. Dimension Next Matter Juniper Square Approach Orchestrate and govern the systems and team you already have - ledgers, CRMs, KYC providers, data rooms. Software plus Juniper Square's own outsourced fund administration staff. Who does the work Your own operations team, using their existing expertise and client knowledge. Juniper Square's accounting, investor services and treasury staff. Who builds workflows Operations teams build and change their own workflows, no-code, typically live in days. Juniper Square's own product and service delivery. Migration required No - Next Matter connects to your existing ledgers, CRM and KYC systems through native connectors and a typed API. Yes - fund data and processes move onto Juniper Square's unified platform. Process coverage Onboarding, KYC/AML, capital calls, exceptions, reporting and NAV oversight, run by your own team, end to end. Fundraising, onboarding, treasury and reporting, delivered via Juniper Square staff. Audit trail Covers your full operational process, every approval and exception, by default. Scoped to Juniper Square's own platform and service delivery. Typical buyer Head of Operations, COO, compliance and audit leads who keep operations in-house and add orchestration and governance. GPs wanting to outsource fund administration to a service provider. ## Orchestration, not outsourcing Who runs fund accounting, investor services and treasury determines who controls the outcome when something goes wrong. ### Handing the work to a provider's staff Juniper Square delivers fund administration through its own accounting, investor services, treasury and reporting teams. A manager using it has outsourced that work: capital call processing, investor allocations, statements and period close are performed by people outside the organisation. That creates dependency. Turnaround times, capacity during peak close, escalation paths and any change to how a process runs sit with a provider, and the institutional knowledge built up around your funds and investors accumulates on their side rather than yours. ### Keeping the work, the data and the knowledge in-house Next Matter is built for a fund administrator's own operations team to run the process directly. The people accountable for the fund do the work; the platform supplies the automation, the AI agents, the routing and the controls around it. Your data stays in your systems, your team keeps the expertise, and when an investor, an auditor or a regulator asks a question, the answer is inside your own audit trail rather than a third party's queue. ## No migration, no lock-in Moving onto a unified platform is a data migration project before it is an operations improvement. ### The cost of moving onto a unified platform A platform that spans the whole fund lifecycle only delivers once everything is inside it. That means migrating fund, investor and accounting data, re-implementing processes that already work, reconciling historic records and re-training teams, with the operational and regulatory risk that carries mid-cycle. Once the data and the process live in one vendor's platform and one vendor's service team, changing course later means doing the migration again. ### Augmenting the stack you already run Next Matter connects to the ledgers, CRMs, KYC providers, data rooms and AI models already in place and coordinates them as one governed process. There is no unified platform to move into and nothing to rip out. Processes go live in days rather than through a multi-month migration, and because the underlying systems stay yours, so does the option to change any one of them later. ## Governance across every step you run, not just what is outsourced Governance scoped to a provider's own platform stops where their service ends. Your process does not. ### Maker-checker enforced before the action In Next Matter, four-eyes approval is a property of the workflow step. You name who prepares and who checks; the platform enforces separation of duties and blocks progression until the named checker signs off. The control applies before a capital call notice goes out, before a NAV is released, before an onboarding decision is recorded - it is preventative, and it applies to every step your team runs, not only the functions a provider happens to cover. ### One audit trail across the whole process Every automated action, AI-agent step and human decision is timestamped and attributed by default, with inputs, outputs and approvals held against the case, investor and fund - spanning onboarding, KYC, capital calls, exceptions and reporting. Nothing falls into a gap between your records and a provider's. The evidence a regulator or auditor asks for sits in one place, under your control. ## Proof in production Next Matter runs regulated operations today across fund administration, banking and venture. Ocorian 300+ fund specialists running governed fund operations. [Read the case study](/case-studies/ocorian) Trade Republic Bank-grade client operations at consumer scale. [Read the case study](/case-studies/trade-republic) b2venture Venture operations to roughly 800M EUR AUM. [Read the case study](/case-studies/b2venture) Swan Embedded-finance operations at scale. [Read the case study](/case-studies/swan) Next Matter is SOC 2 Type II certified - see the [Trust Center](https://app.drata.com/trust/d62cb1a1-96df-4741-8058-97ecbc4ff345/) - with SSO/SCIM and data residency you control. ## See it against your own process Bring a real workflow - a capital call, an investor onboarding, a NAV pack - and we will show you how it runs on your existing systems, with your own team, AI agents and maker-checker approvals. 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