OpenText Magellan BI & Reporting offered better integration capabilities with our product. In addition, the ability to export data to other formats, such as Microsoft Excel, was better than the other competing products.
Deployment of the new solution is underway at TORA with internal users and cryptocurrency clients already on board. “Now, customers can interact with their own data, in a more professional way. This is much more efficient than us generating PDF reports and having to send them to the client,” said Terns Vall-llovera. He added that the team is developing a web portal where users can access their reports directly. “Every client will have a portal where they can simply log in to their landing page and all their reports will be there. It will be very easy for us to add new content to that portal. Additionally, new users can explore their data any way they want without having to make additional report requests.”
TORA has seen several important benefits from the OpenText Magellan solution, including time savings and efficiency gains internally, as well as a more agile and advanced reporting solution to offer its clients. For example, the solution helps TORA address its customers’ needs by giving them direct access to their data in order to assess the effectiveness of their investment strategies and help lower trading costs.
“It is more convenient for our clients to be able to access their reports from anywhere, anytime and be able to directly interact with their data,” explained Terns Vall-llovera. The feature-rich solution aggregates multiple data sources and serves up realtime results in graphic visualizations that puts data at users’ fingertips. Sophisticated charts, tables and graphical selectors allow users to illustrate and explore their data. They can modify, save and share reports, dashboards and data visualizations with just a few clicks.
With the report generation process now automated, IT staff at TORA can focus on providing new services to clients instead of spending time generating and sending PDF reports. Terns Vall-llovera noted that internal users, as well as external clients, no longer require additional IT support. “Using OpenText Magellan BI & Reporting, internal users can work with their data without needing to ask the IT department for help. This gives them a lot of freedom and allows us much more agility. For our external clients, this solution gives them tools they didn’t have before. They can check the data by themselves without having to ask us for different analyses and breakdowns.”
He added, “With the OpenText Magellan solution, I have never had a call from a user to ask, ‘Can you customize this for me? Can you do this date range for me? Can you apply this filter?’ I really appreciate that.”
Building on its initial success, TORA plans to move the remainder of its reporting to the OpenText solution in the coming months, including its traditional asset clients. Delivering an enhanced reporting solution to its customers gives TORA a competitive advantage as it helps its clients gain valuable insight from their data to make critical business decisions.
TORA Trading Services
