15+ min read
3 benefits of cloud-based financial research platforms
March 21, 2019
3 min read
Cloud-based applications have become the norm in our personal lives, and over the last few years, have infiltrated the workplace. Advancements in these applications have been nothing short of remarkable, leaving yesteryear’s a client/server software behind.
According to Cisco, cloud-based applications will drive around 90 percent of mobile data traffic by 2019. For businesses, cloud apps serve various functions, from running payroll to archiving digital communications for compliance, managing large-scale data and assets storage, and running complex tasks.
For financial institutions, cloud-based solutions can help teams overcome organizational challenges by integrating content and collaboration tools into one platform, transforming how investment professionals view and interact with economic research, news, company data, and regulatory documents needed to make meaningful, actionable decisions.
1. Extended accessibility
Before cloud applications, the “old school” way to share information was through shared drives, email, note-taking apps, or analog photocopies. This process requires meticulous content collection across teams — with content often kept in silos. For example, broker research is tagged manually to organize and maintain the most shared content across companies. And inboxes pose another issue, as new reports flood in to be sorted, evaluated, and distributed to the analysts who will benefit most.
Making sense of these data sources often leaves key personnel spending more time managing data rather than focusing on investment decisions. Cloud-based solutions give businesses extended accessibility to data storage and computing power, with the flexibility to access information across devices. In addition, cloud-based apps can be leveraged seamlessly on both desktop and mobile devices, providing a more holistic user experience across channels without disrupting workflows.
With both research and external information in one place, knowledge can be easily shared across the organization — leveraging your team’s work while driving performance.
2. Improved productivity
The freedom to directly annotate and share documents with your entire investment team leads to more productive collaboration. For example, in the past, a Portfolio Manager may have had to download a report, attach the whole PDF to an email, and send a generic note to an analyst to deduce any information pertinent to a company they follow.
The ability to access, search, collaborate, and securely alert to timely information is critical for investment professionals to make alpha-producing investment decisions. Advanced cloud-based applications can auto-organize and make it seem effortless to search, annotate and share, allowing the analyst to focus on more meaningful tasks.
3. Enhanced security
From an IT perspective, cloud-based apps also provide benefits such as no software maintenance, fewer disruptions to service, consistent performance, and a lower cost of ownership. These apps can also provide security benefits from a disaster recovery perspective, like:
- End-to-end data encryption, in-transit and at rest, using Advanced Encryption Standard (AES) 256
- Database, search engine, and system drives that store user data separately
- System and processes that are regularly audited and tested by thirty parties reputed IT
- Full access to user access logs and complete adherence for compliance procedure
With information pervasive across all industry participants, “speed-to-knowledge” using a modern information retrieval toolset will separate the alpha generators from the benchmark trailers.
Investment firms have been using AlphaSense to conduct financial research and stay ahead of the market. We provide a unique, industry-leading research engine, collaboration, and research management tool that revolutionizes the overall investment process.
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