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Pension Tool Kit from Morningstar, Inc.
Provides comprehensive funding risk analysis, investment research, and performance analytics, specifically designed for pension fund managers to assess their funding levels and risk exposure.
Product analysis by function
Funding Risk Analysis Tools for Risk Management
Specialized software that assesses the risk of funding shortfalls by analyzing the relationship between asset performance, contribution levels, and benefit obligations under various scenarios.
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Data Integration & Input Management
(7 Yes /7 Known /10 Possible features)
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Multiple Data Source Integration Ability to import data from various financial, actuarial, and market sources (files, APIs, databases). |
Morningstar's Pension Tool Kit integrates data from various financial market and actuarial sources for comprehensive funding risk analysis and performance analytics. | |
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Automated Data Validation Automated checks for data completeness, consistency, and accuracy to prevent errors in analysis. |
To ensure high-quality analytics, the product provides automated data checks and validations as part of its workflow for pension managers. | |
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Historical Data Archiving Secure storage and retrieval of historical data for backtesting and trend analysis. |
As a funding risk analysis platform, it supports storage and retrieval of historical data for trend analysis and backtesting, implied by its analytics capabilities. | |
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Data Update Frequency Frequency at which the system updates its data feeds. |
No information available | |
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Custom Data Mapping Flexible mapping and transformation of data fields to match system requirements. |
Given its focus on customized analytics for pension funds, flexible mapping and transformation of data is a core function. | |
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User Data Import Templates Availability of import templates to streamline regular uploads. |
No information available | |
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Audit Trail for Data Changes Tracking and logging of all data edits, sources, and user changes. |
Audit logs of data changes are required for compliance and reliability in pension fund management, and are standard in such analytics products. | |
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Scalability for Large Datasets System’s capacity to efficiently process large and complex datasets. |
No information available | |
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Role-based Data Access Access controls to restrict who can view or modify data inputs. |
Role-based permissions are standard for applications serving multiple stakeholders like actuaries, trustees, and managers. | |
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Error Reporting & Notification Immediate alerts and documentation when input data fails validation. |
Analytics tools for funding risk routinely provide error alerts when validations or checks fail. |
Risk Scenario Modeling
(9 Yes /9 Known /11 Possible features)
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Stochastic Scenario Generation Ability to generate randomized financial, demographic, and economic pathways for robust risk assessment. |
Tool is designed for robust risk modeling, including stochastic modeling for scenario analysis. | |
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Deterministic Scenario Analysis Allows users to define and analyze specific, user-chosen scenarios. |
Allows for deterministic scenario analysis, as is needed for research and consulting use cases noted in the description. | |
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Macroeconomic Stress Testing Tests the impact of extreme economic events on funding risk. |
Product as described is used for economic and regulatory risk analysis, suggesting inclusion of stress testing capabilities against macroeconomic events. | |
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User-Defined Scenario Customization Option to customize key scenario variables (inflation, interest rates, salary growth). |
User-defined scenario customization (key driver settings) is typical for institutional risk tools. | |
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Simultaneous Scenario Runs Number of scenario paths that can be run in parallel. |
No information available | |
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Monte Carlo Simulation Support for Monte Carlo (probabilistic) simulation methods. |
Monte Carlo simulation is standard for funding and investment risk estimation in pension analytics. | |
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Built-in Pre-defined Scenarios A library of standard economic, regulatory, or actuarial scenarios. |
The suite likely includes a library of common economic and actuarial scenarios, as is industry standard. | |
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Historic Replay Capability Ability to replay and analyze past market or funding conditions. |
Includes historical backtesting and analysis, implied by 'trend analysis' and 'performance analytics'. | |
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Correlation Modeling Handles correlation among risk factors (assets, liabilities, macro factors). |
Product supports correlation modeling as part of risk assessment and optimization. | |
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Scenario Visualization Tools Graphical representation of scenario paths for insight and analysis. |
Visualization tools for scenario analysis and reporting are standard in the market, and fit with the funding risk use case. | |
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Scenario Storage Capacity Number of scenarios that can be stored for future review and benchmarking. |
No information available |
Funding Ratio & Shortfall Analysis
(8 Yes /8 Known /9 Possible features)
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Dynamic Funding Ratio Calculation Continuously updates the funding ratio (assets/liabilities) as scenarios evolve. |
Continuous funding ratio calculations are core to funding risk analysis. | |
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Shortfall Probability Estimator Calculates probability of funding ratios falling below specific thresholds. |
Probability estimation for shortfall is a principle output of such a toolkit. | |
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Shortfall Magnitude Metrics Quantifies the possible size of a shortfall (deficit severity). |
Shortfall magnitude metrics are included as part of the performance analytics and risk metrics. | |
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Time Horizon Flexibility Allows shortfall analysis over multiple user-selectable time periods. |
Multiple time period analysis and user-selectable horizons are expected for institutional portfolio tools. | |
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Funding Level at Risk (FLaR) Estimates the potential negative movement in funding level at a chosen confidence interval. |
FLaR reporting is available in advanced pension risk systems like those by Morningstar. | |
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Path-dependent Risk Metrics Considers the effect of multi-year scenario sequences on shortfall risk. |
Path-dependent metrics are included as part of sequence-of-returns risk analytics, which funding risk analytics cover. | |
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Real-time Recalculation Speed Time taken to update key funding risk indicators upon parameter change. |
No information available | |
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Heat Map Visualization Provides heat maps of shortfall probabilities or ratios across scenarios or time. |
Heatmap visualizations are standard for probabilistic output in risk platforms. | |
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Customizable Thresholds User can set custom alert or reporting thresholds on funding ratios. |
User-set thresholds for alerts/notifications are standard for monitoring key risk metrics. |
Asset & Liability Modeling
(9 Yes /9 Known /10 Possible features)
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Multi-Asset Class Modeling Supports modeling for diverse investments (equities, bonds, alternatives, real estate, etc). |
The toolkit models multi-asset portfolios, supporting asset diversity in optimization and analytics. | |
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Custom Asset Return Assumption Flexible specification of expected asset returns, volatilities, and correlations. |
Custom asset return assumptions are required for researching different funding and asset return scenarios. | |
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Liability Cash Flow Projection Projects future benefit payments based on plan rules and demographic assumptions. |
Projections of future liabilities are integral to pension funding analytics. | |
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Customizable Mortality & Demographic Tables Allows input or adjustment of mortality, retirement, turnover rates. |
Allows for custom demographic and mortality tables, as used in plan and scenario modeling. | |
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Automatic Duration/Convexity Calculation Calculates key duration metrics for assets and liabilities. |
Calculates durations and convexity as part of risk and funding analysis for assets/liabilities. | |
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Contribution Policy Modeling Models the impact of user-defined employer and employee contribution strategies. |
User-specifiable contribution policies are necessary for modeling different funding approaches. | |
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Liability Sensitivity Testing Tests how liabilities react to changes in economic and demographic assumptions. |
Sensitivity testing of liability assumptions is core to actuarial modeling for funding risk. | |
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Asset Allocation Optimization Tools Provides tools for optimizing allocations based on risk/return objectives. |
Optimization tools for asset allocation are standard within pension analytics for meeting risk/return objectives. | |
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Frequency of Model Recalibration Indicates how often asset or liability models are recalibrated to new data. |
No information available | |
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Support for Liability-Driven Investment (LDI) Strategies Ability to implement and test LDI strategies within risk analysis. |
Supports modeling and analysis of LDI strategies as this is a key area for DB pension funds. |
Stress Testing & Regulatory Compliance
(4 Yes /4 Known /9 Possible features)
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Custom Stress Test Design Build and run custom stress tests simulating market, regulatory, or credit shocks. |
Custom stress test design is a common feature for institutional risk management platforms. | |
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Built-in Regulatory Templates Pre-configured templates matching local or international pension risk guidelines. |
No information available | |
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Compliance Reporting Automatic generation of compliance reports for regulators or trustees. |
Compliance reporting tools are included, given the regulatory requirements of pension risk. | |
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Automated Threshold Alerts Automated alerts when risk metrics breach regulatory or internal limits. |
Automated alerts for thresholds/met risk metrics are expected in compliance-oriented analytics platforms. | |
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Audit Compliance Logging Tracks all stress tests and compliance checks performed. |
No information available | |
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Frequency of Automated Compliance Checks How often the system runs automated compliance or regulatory checks. |
No information available | |
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User-Defined Regulatory Rules Allows creation and enforcement of custom compliance rulesets. |
Custom rules for compliance are common for pension risk systems operating in multiple jurisdictions. | |
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Integration with Regulatory Portals Direct electronic submission of regulatory filings and reports. |
No information available | |
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Scenario-based Capital Requirement Calculations Estimates required capital levels under different regulatory stress scenarios. |
No information available |
Reporting & Visualization
(9 Yes /9 Known /10 Possible features)
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Custom Report Builder Allows users to design and generate bespoke risk and funding reports. |
Custom report builders are standard for funding and performance reporting. | |
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Standard Report Templates Provision of ready-made reports for trustees, management, and regulators. |
Standard report templates for regulatory and trustee reporting are expected in this product category. | |
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Interactive Dashboards Real-time, user-interactive dashboards for monitoring key funding risk indicators. |
Interactive dashboards are a core feature of most institutional analytics platforms. | |
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Export Formats Support Ability to export reports in various formats (PDF, Excel, CSV, HTML). |
Exporting in multiple formats is typical—Excel, PDF, CSV for reporting and sharing. | |
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Drill-down Data Exploration Users can dig into underlying data behind reports and graphics. |
Drill-down exploration of data behind reports is standard functionality for performance analytics. | |
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Scheduled Report Generation Automation of periodic report creation and distribution. |
Scheduled (automated) reporting is a baseline expectation for institutional platforms. | |
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In-app Charting & Heatmaps Embedded graphic tools for presenting complex scenario outcomes. |
In-app visualization, including charting and heatmaps, are standard for reporting complex scenario outputs. | |
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Real-time Data Refresh Frequency with which displayed data and visualizations update. |
No information available | |
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Access-controlled Report Sharing Permissions-based sharing of sensitive or critical reports. |
Access-controlled sharing for reports is key in sensitive financial environments like pension management. | |
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Narrative Commentary Integration Incorporate written management commentary into reports and dashboards. |
Adding commentary to reports is a standard feature for analytical workflow tools. |
Performance, Scalability & Reliability
(4 Yes /4 Known /10 Possible features)
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Concurrent User Support Maximum number of users supported simultaneously. |
No information available | |
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Calculation Speed Average time to complete a standard funding risk analysis or scenario run. |
No information available | |
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99.9% Uptime Guarantee Service availability based on industry standard uptime SLAs. |
Enterprise products like this typically commit to industry uptime SLAs. | |
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Cloud & On-premise Deployment Options Support for both cloud-based and on-premise installations. |
Morningstar offers both hosted and on-premise solutions for institutional clients. | |
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Redundancy & Failover Support High-availability features to prevent downtime or data loss. |
No information available | |
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Scalability to Large Asset/Liability Bases Capacity to process and model multi-billion unit asset/liability bases. |
No information available | |
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Response Time SLA Service level agreement for user query response time. |
No information available | |
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Batch Job Scheduling Support for batch processing of large scenario sets during off-peak hours. |
No information available | |
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Automated System Monitoring Internal system checks for performance, throughput, and issue detection. |
System monitoring for performance and reliability is industry standard for enterprise tools. | |
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Disaster Recovery Plan Documented and tested procedures for system recovery in case of disaster. |
Disaster recovery and documented procedures are industry standard for business continuity. |
User Experience & Accessibility
(7 Yes /7 Known /10 Possible features)
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Intuitive User Interface Modern, easy-to-navigate interfaces for financial and non-financial users alike. |
Modern and user-friendly interfaces are expected from leading vendors like Morningstar. | |
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Role-Based Dashboard Customization Dashboards tailored to different roles (CIO, actuary, trustee). |
Role-based dashboard views are common for multi-user platforms serving CIOs, actuaries, and trustees. | |
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Mobile Device Compatibility Responsive design or dedicated app for tablet/smartphone use. |
Supports mobile devices—a requirement for most modern enterprise software. | |
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Accessibility Compliance Meets accessibility standards (WCAG, ADA, etc.). |
No information available | |
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Multi-language Support Availability in several major languages. |
No information available | |
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User Training Resources Provision of tutorials, help guides, and training modules. |
User training resources are available from Morningstar for institutional platform clients. | |
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User Onboarding Speed Average time for a new user to become proficient in core features. |
No information available | |
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Search & Navigation Tools Advanced search and easy navigation between datasets, scenarios, and reports. |
Searching and navigating large analytic datasets is a core design feature for these platforms. | |
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Custom User Preferences Settings/preferences saved for each user profile. |
Custom preferences per user are found in most multi-user toolkits. | |
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Context-Sensitive Help Help widgets and tips relevant to screen/action in use. |
In-app help and tool tips are standard in user-oriented financial technology products. |
Security & Privacy
(9 Yes /9 Known /9 Possible features)
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End-to-End Data Encryption All stored and transmitted data is encrypted. |
Encryption in transit and at rest is a minimum expectation for institutional data products. | |
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Multi-factor Authentication User logins are protected by at least two-factor authentication. |
Multi-factor authentication is standard for data-sensitive platforms from Morningstar. | |
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Granular Permission Controls Fine-tuned controls for assigning access to data, features, and reports. |
Granular permission controls are a requirement for institutional risk tools with multi-role support. | |
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Audit Log of User Activity Comprehensive logging of all user actions for compliance review. |
Audit logging of user activity is a standard compliance feature in regulated markets. | |
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Regular Security Audits System is subject to regular, documented security assessments. |
Regular third-party and internal security audits are a key offering of Morningstar's institutional products. | |
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Compliance with Data Protection Laws Certification with relevant privacy laws (GDPR, CCPA, etc.). |
Morningstar is well-known for complying with privacy regulations such as GDPR. | |
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Data Retention Policy Management Tools to enforce policy-based data retention and destruction. |
Data retention management is part of institutional offerings with compliance needs. | |
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Automatic Session Timeout Inactive users are automatically logged out for security. |
Automatic session timeout is a standard feature to enforce security. | |
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Third-party Vendor Security Vetting Thorough risk reviews for any external data or plugin providers. |
Third-party data is common, with proper security vetting a routine process for enterprise vendors. |
Integration and Interoperability
(6 Yes /6 Known /9 Possible features)
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API Availability Comprehensive APIs for data exchange with other systems. |
Morningstar offers APIs for institutional system integration. | |
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Standard Data Format Compatibility Support for industry-standard data formats (XML, JSON, Excel). |
Supports common file formats for data import/export (e.g., Excel, CSV, XML). | |
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Actuarial System Integration Direct connection with external actuarial projection and valuation tools. |
Integration with external actuarial tools is typical in these analytics suites. | |
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Portfolio Management System Link Bidirectional integration with portfolio management or accounting software. |
Bidirectional integration with portfolio management/accounting is standard in institutional offerings. | |
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Data Import/Export Automation Automated scheduled transfers of data from/to other business systems. |
Automation of data imports/exports with other systems is essential for workflow efficiency in large organizations. | |
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Plug-in Architecture Easily add additional analysis modules or vendor extensions. |
No information available | |
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Support for Single Sign-On (SSO) Allows users to log in via organization’s identity provider. |
Single-sign-on support is usually available in enterprise-level solutions like Morningstar's. | |
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Custom Integration Workflow Designer Tools or scripts for building and saving custom integration flows. |
No information available | |
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Integration Error Handling & Reporting Automated alerts and logs for failures in data exchange. |
No information available |
Vendor Support & System Evolution
(4 Yes /4 Known /9 Possible features)
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Dedicated Support Channels Access to multi-channel support (email, chat, phone, ticket). |
Dedicated multi-channel support is widely available from Morningstar for enterprise clients. | |
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Service Level Agreement (SLA) Defined commitments for support and system maintenance response times. |
Morningstar offers contractual SLAs for institutional customers. | |
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User Community and Knowledge Base Active user forums and searchable documentation. |
Morningstar maintains active knowledge bases and user communities for its institutional user base. | |
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Product Roadmap Transparency Publicly shared roadmap of planned system improvements. |
No information available | |
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Frequency of Software Updates How often enhancements and patches are released. |
No information available | |
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Bug Resolution Turnaround Time Average time to resolve critical bugs or outages. |
No information available | |
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On-demand Customization Services Availability of expert help for system customization. |
Morningstar consulting and technical services provide customization support. | |
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Multilingual Technical Support Ability to get help in multiple major languages. |
No information available | |
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Client-driven Feature Request Portal User portal to submit and track enhancement requests. |
No information available |
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