DataRails is a spreadsheet management solution for financial organizations such as insurance companies, banks, private equity, credit unions and auditors that delivers full control, data integrity and compliance. With DataRails, users can ensure their spreadsheets comply with regulations including Sarbanes-Oxley, Basel III, Solvency II, Dodd-Frank, and more, in order to mitigate risk. Users can also get a clear picture of their team’s status, automate data consolidation, and obtain real-time insights from their spreadsheet data.
DataRails includes full and comprehensive spreadsheet data integrity and version management features to help organizations meet the highest standards and a zero-error environment. Tools include logical version comparison with unique algorithms, cell dependencies drill down for a detailed, interactive diagram of all cells’ dependencies, and spreadsheet error prevention. DataRails also automatically stores every saved spreadsheet version in a centralized database, allowing prior versions to be accessed anytime.
Organizations can address spreadsheet compliance management and mitigate risk through features including spreadsheet transformation, a full spreadsheet audit trail, spreadsheet data loss prevention, and real-time alerts. Users can gain control of unstructured spreadsheet-based processes through real-time dashboards that can be shared with colleagues, as well as features such as automated data distribution and collection, scenario analysis, and more.
Pros
The way the features are now integrated with Excel, the more "active" way it organizes files tags and compares versions.
Cons
I originally had a little trouble with the interface from excel (widget popups) but they replaced this with simple right-clicks and tighter integration with Excel and windows explorer that has not only eliminated the problems, but made it easier to use.
The solution provided a high ROI for both compliance/SOX teams and the end users.
As for the end users this is a fully transparent solution, the on boarding was smooth and fast.
Pros
Before implementing DataRails, we had no idea what is going on with our spreadsheets across our organization. Today, we have a clear overview of our EUC operations across the organization including real time alerts on any suspicious activity.
Our finance users are happy with the benefits the application delivered to their day to day work.
Cons
As a SaaS solution, DataRails release a weekly versions which sometime require our teams to learn these changes on the go.
The software is still in the process of implementation and improvements
Pros
The software is very good. Changes between versions can be easily identified.
Displays the activity in the software.
Customer Support is excellent.
Cons
The tree view and viewchanges in conected files.
It's a solution that all financial services need but don't have. We were trying to work with our internal controls, but it was proving to be too manually intensive and costly with upkeep and designated staff. Understanding what is happening/happened to all our spreadsheet data at any given time is so useful.
Pros
Spreadsheets are inherently unstructured, and DataRails structured all my organizational data to allow for complete governance and compliance.
Cons
Have been a customer for a year and don't have any yet.
manage complicated excel templates with 16 sites in one database, by giving managerial dashboards to reflect the utilizations and UnOB per each product. production line or site levels.
Pros
Version management from several locations on the globe, when end user works in same excel template. dashboards and visually interface for users.
privileges management is easy to manage
Cons
Some time the badge does not appears correctly on my computer and I cannot save into Datarails.
Contact DataRails for detailed pricing information.
• DataRails provides a full and comprehensive spreadsheet data integrity and version management solution to meet the highest standards that a zero-error environment demands.
• Address spreadsheet compliance management and mitigate risk with DataRails.
• Turn your historical spreadsheet versions into a clear trend-over-time chart by pulling selected KPI’s from numerous versions of your spreadsheets with a single click.
• DataRails gives you control of unstructured spreadsheet-based processes. Get a clear picture of your team’s status, automate data consolidation, and obtain real-time insights from your spreadsheet data.
• Easily understand the root cause of the bottom line result changes using DataRails’ enterprise level audit trail.
Below are some frequently asked questions for DataRails.
DataRails offers the following pricing plans:
Pricing model: Subscription
Free Trial: Not Available
Contact DataRails for detailed pricing information.
DataRails offers the following features:
DataRails has the following typical customers:
Large Enterprises, Mid Size Business, Small Business
DataRails supports the following languages:
English
DataRails has the following pricing plans:
Subscription
We do not have any information about what devices DataRails supports
DataRails integrates with the following applications:
Microsoft Excel
DataRails offers the following support options:
Online Support, Phone Support
We use it a lot for data verification using the compare feature, do monitor data changes when we are changing our financial models. We use it to compare versions of our financial reporting decks and spreadsheets, and we use it for collaboration in collecting and prepareing (ETL) with data files for exporting from one system and into another.