The FirstRain application keeps growing in functionality and today we have announced yet another way you can get to it. We’ve announced our integration with RMS – research management systems.
Todays RMS platforms organize research for the user. Sorting their sell-side research, independent research, internal research etc. into a file folder type of application making it easy to find based on what document is about. Now our research can now be organized and retrieved in the same way.
We have announced our ability to integrate into any RMS platform today – and specifically partnerships with Code:Red and Wall Street On Demand. In both cases, our research results and reports are provided already automatically categorized (tagged) by both the companies they are about and the investment topics they’re about so they easily integrate into the user’s RMS workflow.
The approach we’ve taken is a little different in each case though – as a result of what workflow the end user wants.
In the case of Code:Red we provide an XML feed of our research but we have also integrated our user interface embedded into the Code:Red UI. This means a user can pull up windows into FirstRain – looking at company data, competitor data, management data etc. and they are linked to the companies or topics the user has up in Code:Red system. If the user updates the company in Code:Red, the FirstRain windows also update. All very efficient – and this is the way FirstRain is also integrated into the FactSet Marquee platform today.
In the case of Wall Street On Demand, we provide an XML feed of research results, again pre-tagged by company and topic, which is integrated straight into the end user’s platform so the results show up natively instead of in a FirstRain window. WSOD builds platforms for their client partners and our results are available to our mutual customers. This approach of taking the FirstRain results and using them natively within the end platform is similar to the way FirstRain results are integrated into the Capital IQ platform today.
Both workflows greatly increase the efficiency for the user if the user wants to use RMS as the primary way to organize and access research.
We did these integrations at the request of several end users. Many firms want RMS to work. They want help sorting through the firehose of research they see every day and having it automatically categorized so they can find it easily saves them time, no question. Many users use their email systems today – Outlook or Lotus Notes – and so we are very interested to get involved in helping users find a better way. These partnerships are an important step forward for us, our partners and our mutual customers.