NaviPlan by Advicent vs. FactSet Workstation

For small industries, it is very much suitable for planning, budget allocation, employee management, client management, risk management, tax calculation, and other financial management. The illustration is better and the simple interface helps us to input the data easily and precisely. When coming to large enterprises, there is some drawback which they can easily manage things well. Simple updates and small changes could make it very favorable for medium size enterprises.

Incentivized

As an equity focused investment manager, it is a great all-in-one platform to work from. It solves all our needs for data and Excel integration, modeling, news, market research, economic research and other investment research work. If you are a day trader, its maybe not as useful, but for a manager with normal turnover, it works great

Incentivized

• Employee benefits management, planning, and calculation become simpler with the Navi plan.
• Budget planning, risk management, and other account management become easy and simpler to analyze by the top management.
• Tax calculation and other payments become easy for the organization as well as individual employees.
• Cashflow analysis and modifications in the allocation become easy and could be understood by all the top-level management in a single window.

Incentivized

• Easy/clear UI for navigation
• Easily find and sort through financial filings to get to the data
• Document search functionality seems to be improving consistently with more robust features

Incentivized

• Much favorable for small industries, so better to make it good for large enterprise also.
• Illustration can be made easy so that quick understanding can be done.
• Tracking of the particular item is a bit difficult, this could be made easier.
• Not much user friendly compared to the competitors. But does the job well.

Incentivized

• Excel add-in formulas are not constructed in an intuitive way and too often require assistance from help desk
• No chat function for help desk, which means delayed assistance time or talking with non-native English speakers, some of whom can be difficult to understand
• There should be an AI chatbot that can answer routine queries; for more advanced questions, a human rep can be connected
• Portfolio performance metrics should be downloadable using Excel add-in rather than being available only on Workstation

Incentivized

We need the FactSet data and capabilities to complete 75% of the financial analyses that we complete for both internal and external purposes. It is invaluable and I am not aware of any other provider that would be able to fill this gap that FactSet does

Incentivized

FactSet Workstation offers a plethora of tools that I don't find I often use daily; however, the overall usability of the product is very user-friendly. As an example, I often use the search bar at the top of the workstation to find a specific metric I might need in a flash. The company frequently checks in through surveys and user feedback to identify areas where they can improve the usability and experience.

Incentivized

I think the data delivery could be improved, but it's a good data set.

Incentivized

Snap Projections - We were using this software up until this year alongside Naviplan to see how it compared. The reason we tried Snap Projections was the difference in pricing. Naviplan is expensive, where Snap is only a fraction of the cost. The biggest reason we stayed with Naviplan was familiarity for the advisor presenting. He was accustomed to it. I find the interface of Naviplan better cosmetically. They both are great financial planning software tools with pros and cons in each. I have found that you can manipulate the software to show most of what you need. Both platforms continually update and take user feedback into consideration when building on to it so they both get better all the time

Incentivized

Bloomberg has more info/data than FactSet Workstation which I pointed out earlier. To be fair, I believe Bloomberg is more expensive. Refinitiv - I have used Thomson Reuters Eikon in the past and I did not like the inflexible interface, FactSet Workstation is much more flexible. To be fair, Refinitiv may have made some upgrades since but my mental impression still lean towards FactSet Workstation because of ease of use.

Incentivized

• Tax calculation of the organization and employees was very difficult, and Navi Plan made is very easy now.
• The introduction of the software makes positive changes in the organization in managing the financial needs, which helps the organization to allocate what is required.
• Employee benefit calculation was a bit difficult and it made a big positive impact.
• It does the job and we get the best for what we pay for.
• If the industry becomes big, then slight changes must be introduced to manage the big data needs.

Incentivized

• We were able to end contracts with a few vendors because FactSet provided everything we need for stock screening, modeling, and analytics directly saving us capital that could be repurposed elsewhere
• Having a an all in one system that does everything speeds up training and learning curve for users
• Cheaper than main competitor Bloomberg

Incentivized