FiscalNote - Detailed Review
Analytics Tools
FiscalNote - Product Overview
Overview of FiscalNote
FiscalNote is a leading provider of AI-driven analytics tools, particularly in the domain of global policy and market intelligence. Here’s a brief overview of their product and its key aspects:Primary Function
FiscalNote’s primary function is to empower organizations by providing critical insights and the tools necessary to turn those insights into action. The company specializes in aggregating and analyzing legislative, regulatory, and geopolitical data to help clients make informed decisions.Target Audience
FiscalNote’s target audience is diverse and includes small nonprofits, government agencies, and large corporations, with over half of the Fortune 100 companies among its clients. Additionally, the platform serves foreign embassies and various industry professionals who need to monitor and analyze global policy changes.Key Features
Legislative Analysis
FiscalNote uses artificial intelligence to analyze proposed U.S. legislation, providing detailed insights such as key phrases, comparisons to similar bills, strengths and weaknesses, committee timelines, and information about the bill’s sponsors and past legislator voting records.Data Services
The company offers a wide range of data services, including real-time data sets on legislation, regulatory activities, and geopolitical events. This data is crucial for assessing government risks and making informed decisions.AI-Powered Tools
FiscalNote leverages machine learning and natural language processing to streamline data collection and management. This includes tools for data visualization, demographic analysis, and enterprise collaboration.Media and Publications
Through its acquisition of CQ Roll Call, FiscalNote provides access to publications like Roll Call and CQ, which cover legislative processes, policies, and elections in the U.S. Congress.ESG Solutions
FiscalNote offers a suite of services known as FiscalNote ESG Solutions, designed to help organizations meet their environmental, social, and corporate governance (ESG) targets. This includes ESG-related news, research, and analysis briefings, as well as expert advisory services.Global Coverage
The platform provides data sets and analysis for multiple countries, including the U.S., Australia, New Zealand, Argentina, Canada, Chile, India, the UK, and others. It also has regional headquarters in Seoul, Korea, and Brussels, covering Asia, the European Union, and the Middle East.Collaboration and Integration
FiscalNote has been selected as an inaugural launch partner by OpenAI for its ChatGPT platform, enabling the integration of FiscalNote’s real-time data sets and content into OpenAI’s generative models. This collaboration aims to enhance the accuracy and relevancy of FiscalNote’s models and data collection efforts.Conclusion
Overall, FiscalNote’s products are centered around providing actionable insights and tools that help organizations stay ahead of political and business risks, making it a crucial resource for decision-makers across various sectors. FiscalNote - User Interface and Experience
User Interface Enhancements
The user interface of FiscalNote, particularly following its recent relaunch, has been significantly enhanced to improve ease of use and overall user experience.
Modernized User Interface
FiscalNote has undergone a full rebuild of its technology, resulting in a modernized and refreshed user interface. This new interface is intended to make policy data and information easier to navigate, customize, organize, and take action on. The design aims to be more intuitive, allowing users to quickly find and utilize the information they need.
Integrated News Feed
The platform now includes a streamlined news feed, integrated with alerts, which features content from award-winning CQ News and plans to aggregate over 1,500 additional sources. This allows users to stay informed about local, state, federal, and global headlines that impact their organizations. This feature enhances the user experience by providing timely and relevant policy and regulatory developments in one place.
Unified Search Experience
FiscalNote offers a unified search experience that gives users more control over viewing policy datasets across multiple government bodies with just a single click. This streamlined search functionality makes it easier for users to access and analyze policy data efficiently.
Refreshed Workspaces
The workspaces within FiscalNote have been refreshed to improve overall usability, data retrieval, and information sharing. These enhancements help drive organizational alignment and action around key policy initiatives, making it easier for teams to collaborate and manage their work effectively.
Ease of Use
While the platform has made significant strides in ease of use, some users still note a few challenges. For example, setting up search terms for alerts can be difficult, although once set up, the system is generally easy to use. The overall feedback suggests that the platform is user-friendly, especially for tracking legislation and communicating within teams.
Additional Features
Other features that contribute to the user experience include improved calendar and session dates, which offer more customization options such as viewing upcoming hearings alongside other actions. This helps users stay organized and on top of important events.
Conclusion
In summary, FiscalNote’s user interface is now more modern, intuitive, and streamlined, making it easier for users to access and act on policy data. The integration of a news feed, unified search, and refreshed workspaces all contribute to a more efficient and user-friendly experience. However, some minor challenges in setting up certain features still exist, but overall, the platform is well-regarded for its ease of use and effectiveness in managing government relations and policy tracking.
FiscalNote - Key Features and Functionality
FiscalNote’s AI-Driven Product Category
FiscalNote’s AI-driven product category, particularly highlighted through its recent launch of PolicyNote, includes several key features that leverage AI to enhance policy management and regulatory compliance. Here are the main features and how they work:
AI-Powered Policy Summaries
PolicyNote uses AI to generate policy summaries, allowing users to quickly grasp the essence of legislative and regulatory developments. This feature automates the process of summarizing lengthy policy documents, saving users significant time and effort. The AI technology ensures that the summaries are accurate and relevant, drawing from FiscalNote’s verified and up-to-date policy data.
Comprehensive Data Sets
The platform integrates comprehensive U.S. federal and state data sets, providing users with a holistic view of policy and regulatory changes across multiple jurisdictions. This unified data set is unmatched in the industry and enables users to track hundreds of bills and regulations in a single platform.
Customizable Dashboards
PolicyNote offers customizable dashboards that allow users to personalize their experience based on their specific needs. This feature enables users to focus on the most relevant policy developments and set up their dashboards to display the information that is most critical to their organization.
Stakeholder Database Management
The platform includes tools for managing stakeholder databases, which helps organizations keep track of key stakeholders and their interests. This feature is crucial for effective policy engagement and ensures that all relevant parties are informed and involved in the policy process.
Detailed Reporting Tools
PolicyNote provides detailed reporting tools that enable users to generate policy briefings, analyze trends, and report on policy insights and activities. These tools help in creating comprehensive reports that can be shared with key stakeholders, facilitating better decision-making and collaboration across teams.
Custom Alerts and Natural Language Processing
The platform uses natural language processing to set custom alerts for priority issues. Users can define alerts using natural language, and the AI system will identify not only directly relevant legislation but also related bills that may have an indirect impact. This ensures that users are always informed about critical policy developments in real-time.
Chat-Based Assistance
PolicyNote includes chat-based features that leverage FiscalNote’s proprietary AI to provide immediate insights and answers to users. This feature allows decision-makers to quickly query the system for information on legislative matters, enhancing their ability to respond to policy changes swiftly and effectively.
Workflow Optimization
The AI-powered platform significantly optimizes policy management workflows by reducing the time required to prepare policy briefings from hours to minutes. This acceleration allows users to focus more on strategic and meaningful deliverables rather than spending time reading and interpreting lengthy legislation.
Expert-Led Policy Analysis
PolicyNote combines FiscalNote’s proprietary AI technology with expert-led policy analysis. This integration ensures that the insights generated are reliable, credible, and trustworthy, drawing from FiscalNote’s best-in-class, up-to-date, verified policy data and globally renowned expert analysis.
Integration with Other AI Tools
FiscalNote’s products, including PolicyNote, are part of a broader ecosystem that includes other AI-driven tools such as FiscalNote Copilot for Policy and Global Intelligence. These tools work together to automate tasks, improve decision-making, and increase productivity across various functions related to legislation, regulatory compliance, and global risk analysis.
These features collectively position PolicyNote as a significant advancement in AI-powered policy management, enabling organizations to manage policy and regulatory developments more efficiently and effectively.
FiscalNote - Performance and Accuracy
Evaluating the Performance and Accuracy of FiscalNote’s AI-Driven Analytics Tools
Coverage and Data Volume
FiscalNote boasts an impressive scope of coverage, tracking over 16,000 local entities across the U.S., including counties, cities, towns, school districts, and state boards. They process a vast amount of data, scanning over 600,000 documents each week from these local governing and regulatory bodies. This extensive data collection and processing capability is a strong indicator of their performance in providing comprehensive policy intelligence.Accuracy and Reliability
The accuracy of FiscalNote’s data is enhanced by their proprietary AI technology, which collects, processes, interprets, sorts, and tags unstructured data. This AI-driven approach helps in delivering accurate policy information from thousands of local entities nationwide. The fact that they have been selected by OpenAI as an inaugural launch partner for the ChatGPT plugin further validates the reliability and accuracy of their data sets.Stakeholder Engagement and Insights
FiscalNote’s platform provides a stakeholder database of 100,000 local government contacts, enabling customers to engage with elected officials, city and county staff, and other decision-makers. The platform also offers custom dashboards and daily reports, which deliver insights to help government relations professionals stay informed about local policy issues. This facilitates timely and accurate engagement with key stakeholders.Limitations and Areas for Improvement
While FiscalNote’s capabilities are extensive, there are some potential limitations and areas for improvement:Data Integration and Reliance on Third-Party Systems
FiscalNote relies on third-party systems and data, which can pose integration challenges and risks such as technical disruptions, cyberattacks, or data breaches. Ensuring seamless integration and security of these systems is crucial.Compliance and Regulatory Risks
The company must comply with various laws and regulations, especially in highly regulated industries. Adapting to changes in laws and regulations, particularly those related to AI, machine learning, and data privacy, is essential for maintaining accuracy and compliance.Market Competition
FiscalNote operates in a competitive market with larger, well-funded companies. Continuously innovating and improving their products and services to stay ahead of competitors is vital.Global Operations
While FiscalNote has global offices, international operations come with additional challenges such as compliance complexity, currency exchange rate fluctuations, and political instability. Managing these risks effectively is important for maintaining performance and accuracy. In summary, FiscalNote’s performance and accuracy are supported by its extensive data coverage, AI-driven processing, and reliable stakeholder engagement tools. However, the company must address potential limitations related to data integration, compliance, market competition, and global operational risks to maintain its high standards. FiscalNote - Pricing and Plans
Pricing Structure of FiscalNote
Custom Pricing
FiscalNote does not offer standardized pricing plans that are publicly available. Instead, they provide custom pricing based on the specific needs of their clients. This means that potential customers need to contact FiscalNote directly to get a quote for their services.No Free Plan
FiscalNote does not offer a free plan. Users must engage with their sales team to discuss and agree on a pricing arrangement that suits their requirements.No Publicly Available Tiers
There are no publicly listed pricing tiers or feature sets for different plans. The pricing and features are negotiated on a case-by-case basis with the client.Features and Capabilities
While the pricing is custom, FiscalNote’s products and services include a range of features such as:- Real-time policy and regulatory alerts
- Visual tools like maps
- Custom reports
- Collaboration tools
- Integration with AI technology for enhanced insights
- Access to legislative, regulatory, and geopolitical data
Free Access to Certain Tools
Although there is no free plan for the full suite of FiscalNote’s services, they do offer free access to certain tools, such as the “Copilot for Policy,” which is available as a free-access, open beta to registered users. This tool provides legislative discovery and analysis capabilities through an intuitive chat interface.Contact for Pricing Information
For accurate and detailed pricing information, it is necessary to contact FiscalNote’s sales team directly. FiscalNote - Integration and Compatibility
FiscalNote Overview
FiscalNote, a leading AI-driven enterprise SaaS technology provider, has made significant strides in integrating its analytics tools with various AI platforms and enhancing its compatibility across different systems.
Integration with OpenAI’s ChatGPT
FiscalNote has been selected as one of the inaugural “trusted partners” by OpenAI for the ChatGPT platform. This collaboration allows FiscalNote to provide its market-leading real-time data sets and content to users of ChatGPT. Specifically, FiscalNote’s VoterVoice platform has introduced enhanced AI functionality, including an integration with OpenAI’s ChatGPT, known as VoterVoice SmartCheck. This integration aims to revolutionize the use of AI in advocacy by leveraging ChatGPT’s capabilities to analyze and generate content related to policy and advocacy efforts.
Integration with Google’s Bard
In addition to the OpenAI partnership, FiscalNote has also been chosen by Google as a launch partner for the integration with Bard, Google’s AI chatbot. This partnership enables access to select FiscalNote real-time data sets and content for Bard users. The integration is expected to enhance the accuracy and relevancy of FiscalNote’s domain-specific models by combining generalized foundation models with FiscalNote’s specialized data sets. This collaboration will help FiscalNote optimize its models, data collection efforts, and build novel applications that deliver more effective results for its customers.
Platform Enhancements and Compatibility
FiscalNote’s SaaS policy and stakeholder management platform has undergone a significant relaunch, featuring a modernized and refreshed user interface. This update includes a streamlined news feed combined with alerts, a unified search experience, and refreshed workspaces. These enhancements make it easier for users to navigate, customize, organize, and take action on policy data and information across multiple government bodies. The platform is designed to be user-friendly and efficient, allowing policy professionals to manage stakeholders, monitor legislative and regulatory activity, and act upon risks and opportunities effectively.
Cross-Platform Compatibility
While specific details on device-level compatibility are not provided, FiscalNote’s platform is built as a web-based SaaS solution. This typically means it can be accessed from various devices with a web browser, including desktops, laptops, tablets, and smartphones. The modernized interface and streamlined features are likely optimized for use across different devices to ensure a consistent user experience.
Conclusion
In summary, FiscalNote’s analytics tools and platforms are integrated with leading AI technologies such as OpenAI’s ChatGPT and Google’s Bard, enhancing their functionality and data accuracy. The platform itself is designed for ease of use and efficiency, making it accessible and effective for policy professionals across various devices.
FiscalNote - Customer Support and Resources
Support Options
Dedicated Support Page
FiscalNote provides a dedicated support page where users can find various resources, including FAQs, user guides, and troubleshooting tips. This support page is accessible through their main website.
Direct Support Contact
For more specific or urgent issues, customers can contact FiscalNote’s support team directly. The contact information, including email and phone numbers, is available on their support page.
Additional Resources
User Guides and Documentation
FiscalNote offers comprehensive user guides and documentation for its products, such as PolicyNote. These resources help users get familiar with the platform’s features, including AI-powered policy summaries, customizable dashboards, and stakeholder database management.
Training and Onboarding
While the specific details of training programs are not explicitly mentioned, the launch of new products like PolicyNote often includes onboarding support to help customers get started effectively.
Community and Forums
Although not explicitly mentioned, many SaaS companies provide community forums or discussion boards where users can share experiences, ask questions, and get help from other users.
Expert-Led Insights
FiscalNote’s products, such as PolicyNote, include expert-led policy analysis, which can be a valuable resource for customers needing in-depth insights into policy and regulatory developments.
Collaboration and Partnerships
FiscalNote’s collaboration with OpenAI, where they are one of the inaugural trusted partners, indicates that users may also have access to integrated tools and data sets from OpenAI, enhancing their overall support and resource ecosystem.
By leveraging these support options and resources, customers can maximize the benefits of FiscalNote’s AI-driven analytics tools and ensure they are using the products efficiently and effectively.
FiscalNote - Pros and Cons
Advantages of FiscalNote
FiscalNote offers several significant advantages, particularly in the analytics tools and AI-driven product category:
Comprehensive Legislative Tracking
FiscalNote makes it easy to track bills across the country, providing real-time updates and alerts on legislative changes. This is especially useful for organizations needing to stay informed about government policies that could impact their business.
Government Relations Management
The software excels in managing government relations, allowing users to track actions, contacts with government offices, and collaborate effectively even when team members are not in the same physical location.
Custom Reports and Alerts
Users can generate custom reports and receive discovery alerts that pick up relevant and timely material. The platform also offers visually appealing maps and summaries that can be shared with non-users.
Integration with AI Platforms
FiscalNote has been selected as an inaugural launch partner for OpenAI’s ChatGPT plug-in, providing users with access to its market-leading real-time data sets and content. This integration enhances the analytical capabilities by leveraging AI-driven insights.
Data Analysis and Reporting
The software allows administrators to run various reports on their own without needing to contact their account representative. It also offers tools to track and sort grassroots advocates effectively.
Disadvantages of FiscalNote
Despite its many advantages, FiscalNote also has some notable disadvantages:
User Interface and Mobile Optimization
Some users have reported that the design of email messages and standing pages is bland and not mobile optimized, which can make the process more difficult, especially for younger advocates.
Search Functionality
There have been complaints about the difficulty in searching for enacted bills over a longer period of time. Users also wish for a feature to “star” or “flag” important bills for easier tracking.
Document Attachment
Users have expressed a desire to attach documents to individual actions, such as attaching a support letter to the action of sending that letter.
Cost and Accessibility
FiscalNote has been criticized for its high price, which can exclude smaller lobbies and citizens who cannot afford the service. This creates a disparity where wealthier lobbies have better access to information.
Correlation vs. Insight
Some critics argue that FiscalNote places too much emphasis on correlations that may not provide relevant insights into why a bill passed or failed, rather than focusing on the underlying policies.
By considering these points, users can make a more informed decision about whether FiscalNote meets their specific needs and requirements.
FiscalNote - Comparison with Competitors
Unique Features of FiscalNote
- FiscalNote stands out for its specialized focus on political, legal, and regulatory data. It leverages AI to predict future event outcomes, spot trends, and map and engage the right stakeholders, which is particularly valuable for government affairs and policy analysis.
- The integration with OpenAI’s ChatGPT platform allows FiscalNote to expose its data and insights to a broader user base, enhancing its domain-specific models and user interactions. This collaboration is unique in the legal and regulatory domain.
- FiscalNote’s PolicyNote feature uses generative AI to transform interactions with legislative data, providing an intuitive Q&A interface and generating detailed, shareable reports. This is particularly useful for rapid bill-specific inquiries and accessing verified state and federal legislative documents.
Alternatives and Comparisons
Google Analytics
- While Google Analytics is a powerful tool for web analytics, it focuses more on website traffic and user behavior. It uses machine learning to identify patterns and predict future user actions, but it does not specialize in political or regulatory data.
Tableau
- Tableau is a data visualization and analytics platform that offers AI-powered recommendations and predictive modeling. It is more general in its application, catering to various data types, but lacks the specific focus on legal and regulatory data that FiscalNote provides.
Microsoft Power BI
- Microsoft Power BI is a cloud-based business intelligence platform that integrates with Microsoft Azure for advanced analytics and machine learning. It is versatile but does not have the same level of specialization in political and regulatory analytics as FiscalNote.
IBM Watson Analytics
- IBM Watson Analytics offers automated pattern detection, natural language query support, and advanced analytics capabilities. While it is strong in general data analysis, it does not have the specific domain expertise in legal and regulatory data that FiscalNote offers.
SAS Visual Analytics
- SAS Visual Analytics uses AI to automate data analysis and provide insights, particularly useful for uncovering hidden patterns and trends. However, it is more geared towards general business data rather than the specialized legal and regulatory domain.
Qlik
- Qlik is a data analytics platform that enables associative analysis and data discovery using AI. It is versatile but does not have the same level of specialization in political and regulatory data as FiscalNote.
Conclusion
FiscalNote’s unique value lies in its specialized AI-driven tools for analyzing and interacting with political, legal, and regulatory data. While other tools like Google Analytics, Tableau, Microsoft Power BI, IBM Watson Analytics, SAS Visual Analytics, and Qlik offer powerful analytics capabilities, they lack the specific domain expertise that FiscalNote provides. For organizations needing detailed insights into legislative and regulatory data, FiscalNote remains a standout choice.
FiscalNote - Frequently Asked Questions
Frequently Asked Questions about FiscalNote
What is FiscalNote and what does it do?
FiscalNote is a publicly traded software, data, and media company headquartered in Washington, D.C. It provides software tools, platforms, data services, and news, particularly through its FiscalNote Government Relationship Management (GRM) service. The company uses artificial intelligence to analyze proposed U.S. legislation, track policy changes, and offer insights on legislative processes.When was FiscalNote founded and by whom?
FiscalNote was founded on June 11, 2013, by Timothy Hwang, Gerald Yao, and Jonathan Chen, who were former schoolmates at Thomas S. Wootton High School in Rockville, Maryland.What are some of the key products and services offered by FiscalNote?
FiscalNote offers several key products and services, including its Government Relationship Management (GRM) service, which analyzes proposed legislation using AI. It also provides ESG Solutions to help organizations meet environmental, social, and corporate governance targets. Additionally, FiscalNote has acquired CQ Roll Call, which produces publications like Roll Call and CQ, and it has launched PolicyNote, an AI-powered policy solution.Where does FiscalNote operate and what is its global reach?
FiscalNote is headquartered in Washington, D.C., with regional headquarters in Seoul, Korea (covering Asia) and Brussels (covering the European Union and the Middle East). It also has major offices in New York City, Baton Rouge, and Gurgaon, India. The company operates in multiple languages and serves over 1,300 customers and 21.9 million users globally.What is the significance of FiscalNote’s collaboration with OpenAI?
FiscalNote has been selected as one of the inaugural “trusted partners” for OpenAI’s ChatGPT platform. This collaboration allows FiscalNote to provide its market-leading real-time data sets and content on legal, political, and regulatory information to ChatGPT users. This partnership highlights FiscalNote’s decade-long expertise in aggregating and training models in the legal and political domain.How does FiscalNote use artificial intelligence in its services?
FiscalNote uses artificial intelligence to analyze proposed legislation, track policy changes, and provide insights on legislative processes. Its AI platform can analyze key phrases, compare bills, list strengths and weaknesses, track committee progress, and analyze past legislator voting records. Additionally, FiscalNote’s PolicyNote and other platforms leverage AI to streamline data collection, management, and analysis.What is FiscalNote ESG Solutions, and what does it offer?
FiscalNote ESG Solutions is a suite of services designed to help organizations meet their environmental, social, and corporate governance (ESG) targets. This includes an AI-based platform for data collection and management, ESG-related news, research and analysis briefings, expert advisory services, and access to peer discussion communities.How has FiscalNote expanded its services over the years?
FiscalNote has expanded its services significantly since its founding. It has acquired CQ Roll Call, launched PolicyNote, and introduced FiscalNote ESG Solutions. The company has also expanded its global reach by providing data sets for various countries, including Australia, New Zealand, Argentina, Canada, Chile, India, and the United Kingdom. Recently, it has also collaborated with OpenAI and launched enhanced AI functionality in its VoterVoice platform.Who are some of the notable advisors and board members of FiscalNote?
FiscalNote’s board includes notable figures such as General Stanley A. McChrystal, Glenn Hubbard, Alec Ross, former Obama White House cabinet secretary Chris Lu, Congressman Mike Ferguson, and former publisher of the Washington Post Katharine Weymouth. The advisory board also includes Jayson Kim and Mitch Shue, who were added in 2021.What are some of the recognition and awards received by FiscalNote?
FiscalNote has received several recognitions, including being named to the CNN 10 in 2014 and winning the Technology Pioneer Award at the World Economic Forum in 2016. Its Curate platform won a global award for the best global innovation at the 2022 SAAS Awards. Additionally, FiscalNote’s researchers have made significant contributions, such as uncovering forged comments during the net neutrality debate.