Founded in 1978, FactSet is a research and software solution provider for the financial services sector. The company has 60+ offices in 23 countries and is publicly traded on the NYSE and NASDAQ. FactSet’s flagship solutions include advanced analytics for trading, risk management, hedge funds, investment banking, private equity, and other aspects of financial services. FactSet has its marketplace of data connectors where you can fetch information and industry intelligence from around the world to power your trading and investment decisions. These can be implemented either as standalone solutions or via APIs.
FactSet’s biggest differentiator is the breadth of information assets it has amassed about the financial services market. The FactSet for Teams app makes this information available directly to Teams users.
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FactSet launched its integration for Microsoft Teams in February of 2021. The company noted that nearly one-third of its customers were already using Teams for collaboration – therefore, the integration would help to streamline workflows significantly. FactSet uses ML to deliver detailed information in response to your queries, and this capability is now present in Teams, thanks to the new integration. Let us review the app in more detail.
Inside FactSet for Microsoft Teams
As a prerequisite, you will need an existing FactSet account to use the integration fully. While its Team’s app can be downloaded for free, additional purchases may be required to unlock its full library of exclusive content. Visit Microsoft AppSource to download the integration for Teams. You can also look for FactSet in the Microsoft Teams application marketplace, accessible from your left navigation pane.
Or, you can click on the download link right here, from the FactSet collaboration product page.
Here are the key features that you can expect with FactSet for Teams:
- The FactSet bot – The FactSet bot is how you interact with the app and find information. You can ask FactSet to tell you about specific stocks, recent M&A events, market predictions, and other research content. This information is fetched via the FactSet StreetAccount solution, which covers equity markets for all major exchanges in North America and Europe.
- Automated market notifications – In addition to regular updates, you can receive an alert when a stock price crosses a certain threshold. The app lets you specify the stock name, select whether you want to see greater than or lesser than alerts, and specify the target price. Apart from Teams notifications, you can also receive this data via email.
- Information snippets sent during the conversation – FactSet allows you to set up bots that can fetch information based on natural language queries. For example, suppose you type in the query “gm sales per employee”. In that case, it will tell you the exact revenue of General Motors as calculated for employees for the previous fiscal year.
- The FactSet messaging extension – The FactSet app’s messaging extension capability is extremely useful when you refer to a particular stock or market event when speaking with a colleague. Let’s say that you are discussing an upcoming meeting that will be scheduled via Teams, and you want all meeting participants to brush up on the latest market changes in the sector. Simply click on the FactSet icon below the message compose area and type in the data query in the FactSet popup that appears – e.g., Walmart summary. FactSet will automatically generate an adaptive card containing all relevant information like stock price, market cap, sales, recent deals, upcoming events, etc.
- Deny permissions – FactSet allows you to set up policy regulations preventing Teams users from typing in words and phrases that the organisation does not permit. Since you are handling sensitive data, you must adhere to the organisation and the industry’s regulations while sharing and utilising information. The FactSet app enables regulatory compliance – for example, you can restrict users from sending messages containing the word “Ponzi.”
Why the FactSet App Makes a Difference
FactSet’s powerful machine learning algorithm helps you find the exact information you need directly in the flow of work. Further, it boasts of a massive repository of industry information and analysis content dating back to 2003 and 2005 for North America and Europe, respectively.
What We Think
FactSet completely transforms how financial service providers conduct research, share information, and make data-driven decisions. It can prove indispensable for collaborating on the latest market events.
You can download the app here.
