Ease the administration burden
The administration of an ever-growing list of information sources for data managers at financial institutions isn't getting any easier, firms can feel overwhelmed by the volume, variety and complexity of licensing agreements. Adding to this challenge is the fact most workforces are now working from home due to the Covid-19. Firms of all kinds use managed services to help ease the increasingly complex market data & other information administration burden.
Are your existing internal systems fit to do the job?
Maybe you are a larger firm battling to stay on top of the vast amounts of administrative and licencing information, forcing you to devote significant resource to the task of validating and processing contracts and invoices. Or maybe you are a smaller firm, struggling with a lack of internal expertise or resources and simply cannot cope with this complexity and volume. This poses the questions of whether existing internal processes are the best approach to dealing with the huge administrative challenge.
The shift to Managed Services
Yes, managing data subscriptions and costs is crucial but there is no competitive advantage to be gained from dedicating internal resource that could be used on more value-added tasks. Why not get help from outside specialists so that you can seek to get a firm grasp of your data contracts. The desire for engaging with outside help is being further encouraged by a wider drive among financial institutions of all types to shift on-premises activities on to cloud or SaaS-based managed services wherever possible.
Improve efficiency and vendor compliance
Whether you are a Tier 1 institutions or a highly specialized hedge fund, implementing a managed services approach can help you to stay on top of your vendor relationships. TRG Screen Managed Services can handle the complete workflow for firms seeking help with their subscriptions data invoicing, administration, management, reporting and strategy. These processes take away the burden for firms that need to monitor huge amounts of data in order to stay on top of their current situation. This can translate into cost savings derived from netting of services and identifying redundant or unused services.
Whitepaper: Market Data Invoice and Inventory Managed Services
Read more in our free whitepaper and learn about the daily struggles & challenges faced by data managers and how TRG Screen's Managed Services can help, "Market Data Invoice and Inventory Managed Services".