Mutual Fund Internal Reports, Data Silos, and Wdesk
Internal reporting is the glue that binds or links groups of people together within a mutual fund company. These links are expressed through the functions of data delivery, compilation, and receipt.
The development of most internal reports comes at a high price, and this cost is never fully recognized nor completely understood in most companies. One of the main factors of this cost is the siloing effect of data. Siloing is defined as the storage of unique data on individual computers by individuals who contribute, organize, and assemble these reports.
This cost is not only measured in terms of the critical information that resides within these silos, but the extra steps it takes to access the data and interact with it. Data silos promote individual subject matter expertise, and make companies more dependent on individual execution.
Wdesk addresses the costs of internal reporting for mutual fund companies with single document datamodel technology. Wdesk gives mutual fund companies and individuals the ability to share data and collaborate in real time. Access to and contribution of data—text or numeric—is controlled through permissions set by the company at the cell or document section level.
The linking capabilities available on Wdesk enhance processes by saving time and eliminating extra steps. Data contributions are instantly reflected to all linked documents. Manual and misaligned tasks are eliminated, resulting in higher productivity through greater efficiency.
Imagine a world where charts, tables, graphs, and presentations are updated in real time without needing to cut and paste or reformat entire sections.
Wdesk can make that world a reality—click here to request a demo. See for yourself how Wdesk can streamline your functions, save your company money, and increase efficiency.