SunGard announced today that Hemscott Data, a leading supplier of high quality business and financial information, has gone live on SunGard’s FAME Desktop Add-in for Microsoft® Excel®, a Web-based workstation for performing quantitative and analytic modeling in a Microsoft® Excel® environment. Hemscott Data will private-label and distribute the FAME Desktop Add-In for Microsoft® Excel® under the name Hemscott Abacus, to customers as part of its latest version of product enhancements and expanded data services provided to investment analysts and portfolio managers. SunGard also provides Hemscott with data management, hosting and delivery of a variety of financial and stock pricing data through FAME Feeds and the FAME Desktop Add-In.
Jon Brickman, executive vice president and head of global sales at Hemscott Data, said, "SunGard’s FAME Desktop Add-In for Microsoft® Excel® is a seasoned and proven solution that provides a more effective way to deliver our databases directly to buy-side and sell-side financial analysts, who already spend the bulk of their day working in a Microsoft® Excel® environment. With FAME, we are able to integrate our databases with other major data providers and offer our clients a more convenient, simple method of viewing their data and models in Excel® spreadsheets on their desktops. This tool offers analysts and portfolio managers enhanced productivity and flexibility provided by an enterprise-class software provider that is well known and respected by Wall Street."
In the past, analysts had to enter data manually into their investment models contained in Microsoft® Excel® spreadsheets whenever new financial information or pricing became available, causing the analyst to spend significant time on a relatively menial task. With FAME Desktop Add-In, the analyst’s models are automatically updated with a combination of the latest pricing, quarterly and annual financial reports, and Hemscott’s historical data. This frees the analyst to focus on qualitative judgment and valuation, rather than on data collection and entry.
"We are pleased that Hemscott Data has extended its relationship with SunGard to include FAME Desktop Add-In, as it will help to save valuable time in exposing relevant data to end users in an easy to use and efficient fashion," said Janet Crowley, president of SunGard’s FAME business unit. "By providing efficient delivery of this data into analysts’ models, they are able to more quickly determine return rates and help provide their clients with timely investment recommendations."
Since 2003, Hemscott Data has used SunGard’s FAME data platform to deliver its financial databases to major customers. Hemscott currently uses FAME’s U.S. and Canadian databases, and plans to add more databases this fall.