at Financial Technnology Year
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Canoe for Fund Administrators from Canoe Intelligence
Automates alternative investment document collection, data extraction, and input into fund accounting systems. Enhances accuracy, reduces manual data entry, and integrates with leading fund accounting platforms.
Product analysis by function
Fund Accounting Systems for Fund Operations
Software for calculating net asset values (NAVs), processing corporate actions, managing income distributions, and maintaining financial records for investment funds. These systems ensure accurate valuation of fund assets and liabilities.
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Core Fund Accounting Functionality
(2 Yes /11 Known /14 Possible features)
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Net Asset Value (NAV) Calculation Automated computation of NAV for funds, incorporating all relevant assets and liabilities. |
Not as far as we are aware.* Canoe automates document collection and data extraction but does not directly perform automated NAV calculation; it integrates with accounting systems that do. | |
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Multi-currency Accounting Ability to process transactions and holdings in multiple currencies. |
Not as far as we are aware.* Multi-currency processing is not a stated feature; Canoe focuses on document data extraction, not transaction processing. | |
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Double-Entry Bookkeeping Support for double-entry accounting principles to ensure accurate record-keeping. |
Not as far as we are aware.* Double-entry bookkeeping is outside Canoe's scope; it does not function as a general ledger or accounting engine. | |
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Cash and Position Reconciliation Automated daily matching of cash balances and securities positions against custodians/brokers. |
Not as far as we are aware.* Canoe supports reconciliation by extracting data but does not itself perform automated position/cash reconciliation. | |
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Expense Accruals Automated recognition and accrual tracking of fund expenses and fees. |
Not as far as we are aware.* Expense accrual tracking is a function of accounting systems; Canoe only extracts data for input into those platforms. | |
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Income Recognition Recognition and allocation of dividends, interest, and other income streams. |
Not as far as we are aware.* Income recognition/allocation is not a function offered directly by Canoe. | |
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Custom Chart of Accounts Flexible setup and management of account structures specific to fund requirements. |
Not as far as we are aware.* Custom charts of accounts are handled by fund accounting systems, not by Canoe. | |
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Accounting Period Management Handling and control over multiple open/close accounting periods. |
Not as far as we are aware.* Canoe does not manage accounting periods directly. | |
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Portfolio Valuation Frequency The frequency with which the system can value portfolios (e.g., daily, weekly, monthly). |
No information available | |
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Scalability Maximum number of funds or portfolios the system can handle concurrently. |
No information available | |
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Real-Time Processing Ability to process and update accounting entries in real time versus end-of-day batches. |
Canoe offers near real-time document processing and data extraction upon document arrival, so real-time (for its scope) is supported. | |
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Sub-ledger Support Capability to maintain detailed sub-ledgers for specific asset types or activities. |
Not as far as we are aware.* Canoe does not manage sub-ledgers; that remains the domain of accounting software. | |
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Audit Trail Comprehensive tracking of all changes, edits, and transactions for audit purposes. |
Canoe generates an audit trail for all document uploads, data extractions, and user actions for compliance. | |
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Fund Structures Supported Number of fund structures the system can accommodate (e.g., open-ended, closed-ended, umbrella, segregated mandate). |
No information available |
Corporate Actions Processing
(2 Yes /4 Known /13 Possible features)
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Automated Event Capture Integration or feed for identifying and importing corporate action events. |
Not as far as we are aware.* Canoe does not process corporate actions; its focus is on document-driven data extraction and delivery. | |
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Voluntary/ Mandatory Action Handling Ability to process both voluntary and mandatory events (e.g., tender offers, stock splits). |
No information available | |
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Entitlement Calculation Accurate calculation of holdings impact and entitlements for all corporate actions. |
No information available | |
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Event Notification Automated alerts and workflows for pending and processed events. |
Canoe features automated notifications and workflow for document status, including alerts for pending or missing items. | |
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Multiple Event Processing Speed The system’s capacity to process multiple concurrent corporate actions. |
No information available | |
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Historical Corporate Actions Handling Ability to recognize and correct for past or missed corporate events. |
No information available | |
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Market Data Integration Capability to import corporate action data from market data vendors. |
Not as far as we are aware.* Canoe integrates with fund admin/fund accounting platforms, not market data vendors for corporate actions. | |
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Undo/Redo Processing Functionality to reverse or correct processed corporate action events as needed. |
No information available | |
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Multi-class Share Support Handle actions across different share classes efficiently. |
No information available | |
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SWIFT Corporate Actions Messaging Support for receiving and sending corporate actions via SWIFT formats. |
No information available | |
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Audit Logging of Corporate Actions Audit trail specifically for all corporate action processes. |
No information available | |
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Manual Input Options Facility for users to manually input or override corporate action details. |
Users can manually override and adjust document data extraction results if necessary. | |
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Tax Impact Calculation Automated calculation and booking of tax implications linked to corporate actions. |
No information available |
Income Distribution and Allocation
(0 Yes /0 Known /12 Possible features)
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Automated Distribution Schedule Scheduling of recurring or one-off income distributions, including frequency and amount. |
No information available | |
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Income Allocation Methods Support for various allocation methods (pro-rata, FIFO, LIFO, custom rules). |
No information available | |
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Gross/Net Distribution Processing Ability to compute both gross and net amounts for distribution to investors. |
No information available | |
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Dividend Reinvestment Support Automatic reinvestment of income distributions into fund units. |
No information available | |
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Multi-Tier Shareholder Structures Support for allocating and processing income across different shareholder classes, tranches, or series. |
No information available | |
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Tax Withholding Calculations Automated withholding and reporting of taxes on distributions. |
No information available | |
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Payment Channel Options Ability to distribute via multiple channels (ACH, cheque, SWIFT, etc.). |
No information available | |
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Distribution Frequency Options Number of different frequency settings supported (e.g., daily, weekly, monthly, quarterly, annual). |
No information available | |
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Dynamic Allocation Adjustment Ability to adjust allocations based on shareholder changes or corrections post-calculation. |
No information available | |
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Reporting on Distributions Automated generation of reports detailing distribution calculations and payments. |
No information available | |
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Ex-Date/Record-Date Processing Automated processing of distributions based on relevant ex-dates and record-dates. |
No information available | |
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Custom Distribution Rules Support for user-defined or fund-specific income distribution logic. |
No information available |
Financial Reporting
(0 Yes /0 Known /11 Possible features)
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Standard Financial Statements Automated production of balance sheets, income statements, and cash flow statements. |
No information available | |
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Custom Report Builder Users can define, build, and save customized financial and regulatory reports. |
No information available | |
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Automated Regulatory Reporting Out-of-the-box support for regulatory templates (e.g., SEC, UCITS, AIFMD, IFRS). |
No information available | |
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Multi-period Comparative Reporting Produce reports with side-by-side comparisons over multiple reporting periods. |
No information available | |
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Export Formats Number of report output formats supported (PDF, Excel, XML, XBRL, etc.). |
No information available | |
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Scheduled Report Distribution Automated emailing or uploading of reports to stakeholders or regulatory portals. |
No information available | |
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Drill-down Reporting Interactive reporting with the ability to drill-down to transaction-level data. |
No information available | |
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Audit Confirmation Letters Support Automatic generation and distribution of audit confirmation letters. |
No information available | |
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Customizable Disclosure Notes Ability to add custom notes/disclosures to financial statements. |
No information available | |
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Reconciliation Reports Automated production of cash/position reconciliation reports for audit and compliance. |
No information available | |
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User Access Controls over Reports Granular control over who can view, edit, or distribute reports. |
No information available |
Data Integration and Connectivity
(5 Yes /5 Known /12 Possible features)
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API Availability Availability of REST, SOAP or other APIs for integration with external systems. |
Canoe lists a REST API for integration with fund accounting and reporting systems. | |
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Batch File Import/Export Support for bulk upload or download of data in file formats (CSV, XML, JSON, etc.). |
Batch import/export supported: mass uploading of documents and data extraction for export. | |
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Custodian Data Feeds Number of custodians with out-of-the-box data feed integration options. |
No information available | |
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Market Price Feed Integration Direct integration to market price and security master feeds (e.g., Bloomberg, Reuters). |
No information available | |
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Third-party System Compatibility Supports integration with common risk, trade order management, and compliance systems. |
Website highlights integrations with major fund accounting, reporting, and investor portal platforms. | |
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Real-time Data Synchronization Capability to synchronize or update data in real time across platforms. |
No information available | |
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SWIFT Message Support Support for sending/receiving financial messages in SWIFT format. |
No information available | |
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Data Validation and Cleansing Automated checking, mapping, and correction of incoming data feeds. |
Canoe advertises automated data validation and cleansing for ingesting and structuring document data. | |
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Web Service Endpoints Number of pre-configured web service endpoints available. |
No information available | |
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Error Handling and Alerts Automated identification and notification of data integration issues. |
Canoe includes error notifications and alerts for failed data extractions, invalid documents, etc. | |
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Flexible Data Mapping User-configurable data mapping between external and internal systems. |
No information available | |
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Multi-tenancy Support System can segregate data and workflows for multiple clients within the same platform. |
No information available |
User Experience and Workflow Automation
(3 Yes /3 Known /12 Possible features)
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Customizable Dashboards Personalized dashboards showing relevant KPIs, alerts, and task lists. |
No information available | |
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Workflow Engine Integrated workflow tools to define, trigger, and automate business processes. |
No information available | |
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User Roles and Permissions Granular control over user access, editing, and approval rights. |
No information available | |
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Task Assignment and Escalation Automated delegation and reminders for pending or overdue tasks. |
No information available | |
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Bulk Processing Support for bulk editing, approvals, or transaction uploads. |
Bulk processing supported for mass document uploads and data extraction. | |
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Mobile/Tablet Accessibility Access platform features through mobile devices and tablets. |
No information available | |
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Language Localization Support for multiple languages for interface and reporting. |
No information available | |
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Training and Help Resources Integrated user guides, video tutorials, and context-sensitive help. |
Training resources include onboarding support, help center, and product guides as per website. | |
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Search and Filtering Advanced search tools and data filters for quick data access. |
No information available | |
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User Activity Logging Automatic recording of user actions for security and compliance. |
User activity is logged for compliance and auditability. | |
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Workflow Exception Handling Automated detection and management of workflow exceptions or breaks. |
No information available | |
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Document Management Store and retrieve associated fund documentation within the platform. |
No information available |
Compliance and Controls
(2 Yes /3 Known /11 Possible features)
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Rule-based Policy Enforcement Automated compliance checks based on custom or regulatory rules. |
Not as far as we are aware.* Regulatory compliance/policy enforcement features are managed by the fund accounting systems; Canoe is a data automation platform. | |
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Approval Workflows Multi-level approval workflows for sensitive tasks and sign-offs. |
No information available | |
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Exception Alerts Automated warning and escalation for compliance exceptions. |
No information available | |
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Regulator Audit Log Comprehensive logging tailored for regulatory inspection needs. |
Canoe’s audit trail and activity logs may be used to support regulatory investigations. | |
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Segregation of Duties Controls to ensure critical functions are performed by separate users. |
No information available | |
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Threshold Monitoring Pre-set limits for exposures, transactions, or NAV deviations triggering alerts. |
No information available | |
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Automated Reporting to Regulators Direct submission features to regulatory agencies via portal/API. |
No information available | |
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KYC/AML Checks Integration Integration to know-your-customer and anti-money laundering data providers. |
No information available | |
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Historical Version Controls Ability to retrieve and report historical data by effective date. |
Canoe retains past versions of extracted data, allowing users to retrieve and re-export by prior date. | |
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Data Masking for Sensitive Fields Masked display of sensitive regulatory and client data. |
No information available | |
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Automatic Breach Reporting Instant reporting and alerting of compliance breaches. |
No information available |
Security and Data Protection
(5 Yes /5 Known /10 Possible features)
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Multi-factor Authentication Support for two-factor or multi-factor user authentication. |
Multi-factor authentication is supported for platform access per Canoe security documentation. | |
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Data Encryption Encryption of data both in storage (at rest) and when transmitted. |
Data is encrypted at rest and in transit according to Canoe's data security FAQ. | |
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Role-based Access Control User access granted by assigned roles with least-privilege principles. |
Role-based user access and least-privilege principles are described in Canoe admin documentation. | |
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Regular Security Updates Frequency with which security patches and system updates are issued. |
No information available | |
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Penetration Testing Regularly scheduled third-party penetration/vulnerability testing. |
No information available | |
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Audit Logging and Monitoring Comprehensive audit logs accessible for investigation. |
Full audit logging and monitoring is featured for compliance and operational purposes. | |
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Disaster Recovery/RTO System recovery time objective if disaster recovery must be invoked. |
No information available | |
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Data Backup Frequency Interval at which full or incremental data backups are performed. |
No information available | |
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Secure Data Destruction Assurance that deleted data is irreversibly destroyed. |
No information available | |
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GDPR/Data Privacy Compliance System compliance with major privacy laws (GDPR, CCPA, etc.). |
Canoe complies with GDPR and other privacy regulations, as stated in privacy/documentation. |
Performance, Scalability, and Availability
(1 Yes /1 Known /9 Possible features)
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Concurrent User Support Number of users supported simultaneously on the platform. |
No information available | |
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Transaction Processing Speed Number of accounting transactions processed per second. |
No information available | |
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Uptime Guarantee Service-level uptime commitment by the vendor. |
No information available | |
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Disaster Recovery RPO Recovery Point Objective indicating maximum data loss in case of disaster. |
No information available | |
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Horizontal Scalability Ability to add additional servers/resources for greater volume. |
No information available | |
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Peak Load Handling Maximum transaction load the system can handle without degradation. |
No information available | |
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Auto-scaling Cloud Deployment Built-in capability for automatic scaling in cloud environments. |
No information available | |
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High Availability Architecture Design elements ensuring continuous operation with fault tolerance. |
Canoe is delivered as a cloud platform on AWS with high-availability architecture (as described in infrastructure/security documentation). | |
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Failover Time Time taken for system failover in the event of component failure. |
. | No information available |
Pricing, Licensing, and Vendor Support
(7 Yes /8 Known /10 Possible features)
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License Models Supported Support for various license models (SaaS subscription, on-premise, etc.). |
Supports SaaS subscription model; on-premise options not indicated. | |
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Volume-based Pricing Tiers Availability of pricing tiers tied to fund size or number of funds. |
Not as far as we are aware.* No public reference to volume-based pricing; pricing appears subscription-based per AUM or records. | |
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Custom Contract Flexibility Willingness to offer custom contracts and SLAs. |
Canoe offers custom contracting and flexible SLAs according to sales material. | |
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Implementation Support Availability of vendor support during setup and onboarding. |
Implementation and onboarding support provided by Canoe's client services team. | |
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24/7 Client Support Round-the-clock live support availability. |
24/7 support via online ticketing and urgent phone lines for enterprise accounts, as per support page. | |
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Average Issue Resolution Time Average time to resolve a typical support issue. |
No information available | |
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Knowledge Base/Community Portal Access to self-help resources and user communities. |
Support portal and client knowledge base available for self-help. | |
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Regular Feature Releases Frequency of new feature or update releases. |
No information available | |
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Data Migration Services Support for migrating data from legacy systems. |
Canoe delivers data migration assistance for onboarding legacy documents. | |
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Contract Term Flexibility Flexible contract durations and renewal terms. |
Flexible contracts and renewal terms available according to client profile. |
Customization, Extensibility, and Upgradability
(4 Yes /4 Known /9 Possible features)
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User-defined Workflows Support for building custom workflows and automations without vendor involvement. |
No information available | |
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Plugin/Extension Framework Ability to add custom modules or extensions to core platform. |
No information available | |
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Custom Fields and Forms Users can add custom fields, forms, and data attributes. |
Canoe provides ability to add custom metadata fields and client-specific mappings. | |
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Scripting/SDK Support Availability of scripting or SDK for advanced customizations. |
No information available | |
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Branding/White-labeling Option to customize the user interface and reports with firm branding. |
No information available | |
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Upgrade Path Clarity Clear communication on how upgrades are managed and delivered. |
All platform updates and upgrade schedules are published to clients via portal and email. | |
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Backward Compatibility Ensures new versions do not break existing integrations or customizations. |
No information available | |
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Open API Documentation Comprehensive developer documentation for system APIs. |
API developer documentation is available to clients and integrators. | |
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Sandbox/Test Environment Access to a separate environment for testing customizations and updates. |
Clients are granted access to a test/sandbox environment for integration development. |
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