Safeguard Financial Data Integrity
Financial institutions rely completely on Excel spreadsheets in every department and activity. Data integrity is vital, since even one mistake can harm a company’s reputation, revenue and business insights. DataRails introduces Excel spreadsheet control, which covers access/security, traceability/version history and backups/version recovery. DataRails works over all Excel spreadsheets, without changing the familiar experience you know and love.
Regulatory mandates, such as Basel III, Solvency II, Dodd-Frank Stress Tests (DFAST) and Comprehensive Analysis and Review (CCAR) compel financial institutions to evaluate how they manage their unstructured data, and to examine and implement rigorous control frameworks. With DataRails, financial institutions can prioritize compliance management and enable effective internal control.
Financial institutions spend much of their resources in man-hours for working with Excel documents. Streamlining this type of work can significantly accelerate productivity and lower costs. By being able to easily share files, review data, comment on cells, eliminate emails and work on the latest file versions, team productivity has been shown to improve by as much as 60%.
Better Managed Risk and Compliance
With features like access control, traceability and version control and comparison that enable FINRA compliance, DataRails empowers IT to enable end users and secure your business financial data.
Just like a BI tool, DataRails converts Excel files into a structured database. This allows financial institutions to create graphs that pull data from numerous Excel files and extract meaningful insights from one interactive dashboard.