5 min read

Market Data Spend Management & Analytics

Published on
February 4, 2019
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A common challenge that we see when speaking to our prospects or working with our clients is the ability to effectively track, report on, and communicate data spend across the organization.  Having an inventory management system and a scalable reporting framework to provide costs transparency is one of the ways we help our clients. As we work to structure and/or enhance their market data management programs; having an inventory management system to track their vendors, services, contracts, costs, and internal allocations is fundamental.

Being able to allocate varying expense types within market data whether those expenses are flat, stepped, tiered, or site based can be a challenge for financial institutions, especially if the above details aren’t tracked effectively. To add to that, using excel can only get you so far in accurately managing transfers, additions, cancellations, split allocations, and so forth.  As firm’s grow and they acquire more resources, having a system that can scale to meet these demands is important as well. Therefore there becomes paramount for them to have an inventory management system that is robust and built to handle complex allocation methodologies and the influx of new services and users.

Using business intelligence software can be very useful when it comes to analyzing spend across an organization as well.  It helps to provide transparency across departments, teams, and business manager’s.  By providing frequent and dynamic spending reporting, market data consumers and teams can get a recurring view of their costs, increases and decreases.

One of the main ways BI tools like Tableau, Microsoft Power BI, or Qlik can enhance your reporting and cost management processes is by allowing stakeholders to dynamically view spend across a number of data fields, data hierarchies, and visualizations.  We have found these reporting processes to be particularly useful in a number of organizations and it’s amazing at how much cost savings are realized after business manager’s and users see what their market data services cost and/or who is using them.

About S4 Market Data

S4 Market Data has over 20+ years of market data administration and vendor management experience. Based in Miami, they help financial institutions with data management, costs, and compliance. For more information, visit our homepage: www.s4marketdata.com.