CODiE Awards 2022: Best Subscription Billing Solution – Revenue Management Platform

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Write up

Market data providers want to work more closely with their end customers, but they often struggle to have complete visibility over how and where their market data is being used. Many state that they aren’t confident that the data they are collecting is completely accurate, which prevents them from helping their customers to avoid billing errors or compliance findings. On top of this they find it hard to manage the time consuming administrative, billing, compliance and reporting processes involved.

TRG Screen has the Perfect Solution 💡

The Revenue Management Platform from TRG Screen provides the solution to these problems. It gives the transparency needed to fully understand your customer base, and the powerful usage tracking, compliance, and billing workflow automation tool saves time and puts you in control.

Manage all your Revenue Streams in one place

The self-service model gives market data providers direct access to the end consumers of their data, helping with their relationship management and giving their clients the best possible user experience. This allows market data providers to manage their revenue streams – all in one place – and:

Get detailed and accurate usage and revenue reports
Quickly identify opportunities to prevent billing errors or compliance findings
Leverage vendor of record management capabilities
Streamline product ordering and client onboarding processes
Simplify compliance monitoring and audit processes for their customers
Deliver self-service functionality to your end consumers
And, transform your operations, saving you time and money!

Gain Better Understanding of how Customers use your market data

Ultimately, our Revenue Management Platform gives market data providers a better understanding of how customers use their market data while completely transforming their approaches to usage reporting and invoicing – supporting all types of billing, including one-offs, subscriptions, and usage-based. By taking this kind of approach – and implementing a direct client communication mechanism – exchanges and data vendors can get a better view of the big picture with respect to customer data usage and make fast, informed sales and marketing decisions that maximize this strategically important revenue stream. By interacting more and directly with consumer organizations, exchanges and data vendors can start to understand client data usage, allowing them to more easily identify revenue opportunities.

12-14% Growth in Financial Information Service Revenues

Analysis by TRG Screen suggests that connecting directly with data consumer clients – for example, through the deployment of a self-service portal – can result in growth in financial information service revenues of between 12% and 24%.

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Operational and Business Process Improvements

This revenue improvement stems from a range of operational and business process improvements. Direct relationships with users can help streamline compliance monitoring and support a proactive audit process. They can help achieve operational excellence by introducing automation of administrative functions, saving time and money, and by streamlining inefficient processes like product ordering and client onboarding.

This introduces greater administrative data integrity and consistency, leading to proactive compliance and accurate and timely billing and invoicing (with API integration to system such as ‘Accounts Payable’ where needed). At the same time, standardization of reporting processes among consumer firms, data originators and data vendors can result in improved policies, underpinned by detailed, accurate usage reporting & compliance monitoring.

How Clients Benefit from our Revenue Management Platform

The TRG Screen Revenue Management Platform is being used by major exchanges and other data originators to better manage client relations and optimize information services revenues. At Euronext, for example, the TRG Screen Revenue Management platform is powering the exchange’s MyMarketData portal for standardized reporting, online contract management, product ordering, and billing and invoicing. According to Michael Hodgson, head of information services at Euronext, the portal gives the exchange’s data services clients a single point of access to all their market data account information and documentation, including invoices.

'Follow the Sun' Support

The Revenue Management platform supports multiple languages and currencies (including conversion rates) and clients benefit from 24/7 service ‘follow the sun’ support.