Globally, it gives you the clarity you need to take control of all your market data, research, software and other corporate subscription spend across the enterprise. Saving you time and money!
Optimize Spend is a true best-of-breed solution bringing together the best of 20 years of FITS and INFOmatch — with major new capabilities.
Understanding in-house consumption of vendor data and ensuring compliance with the terms & conditions of your enterprise subscription agreements can be challenging. Particularly for firms managing large volumes of contract clauses across hundreds of suppliers. Our expense management solutions create full transparency around the access to —
Today’s business is often stretched thin with the rising cost of data and the constant internal pressure to drive efficiency while reducing overall enterprise subscriptions spend. Optimize Spend provides a single repository of all subscriptions, and automate many previously resource intensive processes. Our clients realize annual cost savings ranging from 10%-30%.
Many firms struggle to streamline and bring transparency & control to their enterprise subscriptions. Our inventory system provides a central platform to store information about all your vendor relationships, product information, contractual terms, a catalogue of services used by each employee for cost allocation, full audit trail, and more.
Many financial institutions, law firms, and professional services firms – large and small – struggle to understand and control the contracts, billing and expenses for their enterprise subscriptions. Our spend management platform Optimize Spend solves this problem.
In today’s subscription economy, firms consume a broad range of services in order to meet their complex business needs. Many of these firms still rely on complex spreadsheets or other tools supporting manual processes to manage their subscriptions.
By automating inventory management across the range of subscription services, firms can eliminate these manual systems and save time, money and resources.
Automating inventory control allows firms to analyze existing costs and predict upcoming spend relating to information and subscription services consumed across the enterprise. This in turn supports accurate reporting of usage and cost data to your users, financial controllers and auditors.
It allows you to deliver on cost transparency, and manage risk and compliance. Finally, this approach supports supplier negotiations with evidence-based intelligence, helping to optimize contract renewals.
Employees come and go at every firm. Also, users may be too busy to indicate that they no longer need services that were previously important to their role. Understanding the services and users governed by the contracts equips managers to make informed decisions about each contract and know when it’s time to negotiate with the vendor.
A “single view” solution proactively and electronically polls the user community about current service requirements, facilitating cost containment and reduction. This alleviates the data manager from expending valuable time pursuing each user and leaves more time to examine the “big picture”.
A single view of costs & expenses also allows to accurately allocate costs across users, departments, etc. to truly understand profitability.
As regulators and auditors push for more accurate reporting and vendor contract compliance, seeing the “big picture” without a consolidated view of enterprise subscriptions is a challenge.
Enterprise spend management can be made more efficient through data consolidation, intelligent automation and processes such as managed services. As regulators and auditors look for increased transparency into business operations, automated solutions also provide a much-needed audit trail.
With a central system for enterprise inventory & cost management, firms often see a reduction in costs from 10 to 30%. Savings are achieved through cutting annual duplicate service fees as well as reduced headcount toward invoice processing, contract management, reporting, and more.
Jointly managing over $8,5 billion in enterprise subscriptions. And yes, we’re pretty proud of our 96% retention rate since 1990.
Our solution serves several types of organizations and support many departments
A complete global overview of your user community — including the systems, licenses and data accesses in use, all together with associated cost
A full function procurement environment listing of all your providers’ contracts — including prices, expiry & renewal dates, rules, terms & conditions
A single view of costs & expenses to accurately allocate costs across users, desks, departments, offices, and more
Simply calculate your next period’s budgets, and track variances with accrued cost and budget YTD
A fast, paperless and rules-based process delivering automation of the invoice entry, reconciliation, approval and payments lifecycle
Visualize your data through modern reporting, advanced analytics and customizable dashboards
Easily review and compare usage to your contractual terms to ensure compliance with your vendor policies
Automate manual processes and seamlessly transfer data from and to your vendor and corporate systems
Simply store & organize your documents and files relating to contracts, invoices, vendors, and more
Allow end users to automatically order products & services, and dramatically improve turnaround time on requests
Optimize Spend serves several types of organizations and supports many departments. Whether you are an international investment bank or a smaller asset manager, a hedge fund or a broker, a data vendor sourcing market data, a professional service organization or a blue-chip company — Optimize Spend enables any firm to optimize their enterprise subscription spend.