Bloomberg has today unveiled a new suite of tools and analytics on the updated Bloomberg Professional service. The new launch investor relations (IR) dashboard is intended to help asset managers, treasurers reporting to the board, and especially IR professionals reporting to clients, to better manage their daily workflow and derive quick insights into breaking marketplace news and analysis.
The new IR dashboard and data mining tools offer customized, cross-asset class views of the markets to end users, allowing them to monitor and analyse key industry trends that can impact company stock prices. Major functions include peer benchmarking, shareholder benchmarking and supply chain data analytics for risk and oversight purposes. The target audience is the Investor Relations Officer IRO who in the era of ‘big data’ is increasingly expected to report to treasurers and other clients quickly about market sentiment, shareholder activity so forth, before any bond, takeover or other activity is launched.
Bloomberg's updated IR offering centralises and contextualises critical information, including news, research and analytics, says the data vendor, enabling users to monitor the markets, better manage analysts and existing investor relationships, and to target new revenue streams.
To develop these new tools, Bloomberg worked collaboratively with numerous IR executives at Land Securities, Quicksilver Resources and many other corporates across different industry sectors around the world, to tailor the platform to meet the demands of the evolving IR role.
Regulatory compliance, corporate sustainability efforts, strategic planning and sophisticated competitive analyses, using financial planning and analysis (FP&A) ‘big data’ tools are all increasingly part of an IR professional’s duties.
“The investor relations role has evolved far beyond its traditional function of communicating with investors and analysts. [It] now requires sophisticated, timely competitive analysis and strategic planning capabilities," said Jean-Paul Zammitt, Bloomberg's head of product and sales. "We developed customised tools to help these professionals generate faster, deeper insights in increasingly complex markets."
According to Ed Thacker, director of IR at Land Securities, and one of the partners consulted prior to today’s launch, the new product is game changer. "In today's interconnected financial markets, the Bloomberg Professional service gives me the tools I need to synthesize large amounts of information and provide key insights to internal and external stakeholders."
The new Bloomberg Professional service now offers corporate and IR executives customised, cross-asset class views of the markets to monitor and analyse key industry trends that can impact company stock prices. Company-specific information is presented in the context of IR professionals' needs, so they can also easily track and compare company performance, evaluate shareholder activity and composition, and target new investors using a single, secure platform. The new offering is part of the Bloomberg Professional service and available to all subscribers at IR.
End User Comments
According to David Erdman, IR manager at oil and gas firm, Quicksilver Resources, which was a launch partner for the new system: "To be a successful investor relations officer (IRO) today, you need the right tools to analyse your company's market position, so you can better communicate [information] to shareholders, analysts and your own management team. The Bloomberg Professional service provides the customised, sophisticated solution I need to do my job better and more efficiently."
Commenting on the changing role of IR professionals these days, which since the crash are increasingly expected to know company budgets and forecasts, financial planning and analysis (FP&A), risk loads and many other facets of the enterprise, alongside the stock valuation, David Farwell, senior vice president of IR at ABM Industries Inc, said: “Officers today perform competitive analysis and are key participants in strategic planning. These increasing responsibilities demand more sophisticated tools and knowledge - merely searching for information and waiting for results is no longer an efficient way to make decisions or to provide value to the chief financial officer (CFO) and chief executive officer (CEO).”
“The [updated] Bloomberg Professional service provides me with a diverse set of tools that enables me to provide salient information in a number of key areas and in a more efficient manner."