Data is uber-important for private equity/venture capital fund managers and investors for decision making. Unfortunately, the important information is often hidden from naked eyes, buried in spreadsheets, making analysis both challenging and inaccurate.
What makes matter worse, that’s just the tip of the iceberg.
If you work with spreadsheets quite often, I’m sure you have realised that the wrong data and formula errors can spark a butterfly effect – a deadly one: Errors today will yield more errors tomorrow – and so on. Imagine that you will use those error-ridden data for data analysis and – gulp – decision making.
Fortunately, this year, things have changed – for the better. Enter TopQ.
What is TopQ?
TopQ is a web-based platform revolutionising the private equity and venture capital sector. In essence, it is a fully customisable analytical tool for investment data.
Founded in 2013 by two private equity veterans, Graeme Faulds, Graham Paterson and Drake Paulson and headquartered in Edinburgh, Scotland, TopQ Software Ltd redefines the fund managers – investors communication by disrupting the “classic” flow of data analysis and exchange, cutting off the “bureaucracy” and present everything is a single dashboard accessible by involved parties.
What was error-prone, cash flow data can now become way more accurate, which results in better data analysis – and eventually – better decision making.
Not only cash flow data accuracy, confidential data which was prone to abuse, now can be exchanged and shared confidentially and securely with TopQ’s proprietary technology.
Sits in the cloud, TopQ is accessible from anywhere using any devices – PCs, laptops, tablets and smartphones.
You can learn more about TopQ from the company’s YouTube Channel: http://www.youtube.com/user/TopQSoftware/videos
TopQ tools
Currently, TopQ offers two types of product: TopQ Readers and TopQ Analyzer.
TopQ Reader is available free of charge. You can use the pre-defined tools to carry out standard analysis of cash flow data shared to you.
TopQ Analyzer is a more powerful solution, offering you more control and functionality. This solution allows you to upload your own data, shared it with investors and dig deeper in analysis.
How TopQ works
It’s pretty straightforward, really. You can start analyzing your data in minutes.
Firstly, you upload your cash flow data from your spreadsheet (in a popular file format, .csv.) into TopQ Analyzer. Don’t worry, you will be guided by a helpful import wizard.
The fully-customisable tools, charts and filtering lets you play around with your data. The reports are presented visually – not only you can analyse the data however you want, you can also arrange your “dashboard” in the way you like it.
Once your cash flow data sits in the cloud, you can then share your data and analysis to investors and fellow fund managers. Sharing is both simple and secure.
Takeaway
I personally think that TopQ answers fundamental needs of fund managers and investors for a simpler, more secure way to analyze investment data and reporting. The mobile-friendly solution is a big plus, especially for location independent and oft-traveled fund managers and investors – now you can analyse your data anytime, anywhere you wish.
There are two issues users need to discuss with TopQ before sending in their investment data: Data ownership/security and vendor lock-in. You do need to ask questions, such as: How data ownership is governed? Is data privacy guaranteed? Is it easy to export and/or download the data back to your own device or other apps? Will you get support, not only in using the platform but also in data governance?
Once you get convincing answers to those questions, there is no reason you shouldn’t try TopQ. I’d strongly recommend you to request for a demo and try the platform yourself.
So, are you a TopQ user or have you tried the web app? If so, please share your experience with us!