Reference Data Cost Optimization
Visibility of usage on web-delivered research and reference data
sources is generally very poor. Research Monitor provides vital
information in this area, identifying the exact usage of each of
your online sources down to the individual level. With detailed
usage data, clear analysis and summary reports, Research Monitor
enables you to efficiently manage your market data and reference
data spend.
In particular, RM assists with:
- Cost optimization by identifying unused or under-used
subscriptions
- Understand research and reference data usage
- Negotiate better contract renewals
- Enforce entitlement
- "Perm vs Used" analysis
Concrete Usage Data
Without Research Monitor, concrete data on which individuals are
using services is difficult or impossible to obtain. Most large
firms could reduce market data spend simply by identifying and
eliminating unused subscriptions. Further spend reduction is then
possible by analyzing how people are actually using the reference
data sources, and using this information for competitive
displacement or renewal negotiations.
Vendor-Independant Usage Analysis
Research Monitor collects data independently of information
vendors, so you are no longer dependent on what information they
choose to give you or are able to give you.
Vendors like SNL, CapitalIQ, Factiva, John S Herold, Green
Street, and Moodys all present unique challenges in determining
return on investment. Research Monitor has been configured to track
usage of reference data services such as these. Along with
reporting on high-level usage, you can identify detailed
information such as which areas or modules of each service are
actually used, what searches are run and which documents your
researchers are viewing. Research Monitor gives you the data you
need to manage your research data spend.
Pre-configured for over 250 research data sources
Research Monitor has already been set up to track usage on over
250 online services, and new sources can easily be added as
needed.
Click here for a detailed list of some
of the sources Research Monitor has been configured to track.
Integration with Cost Inventory Systems
By combining Research Monitor usage data with existing data from
cost inventory databases it is possible view side by side usage and
entitlement data. This immediately highlights obvious discrepancies
between spend and used.
Proven Usage Analysis Solution
Research Monitor has been established since 2003, providing
usage analysis solutions to large international firms, focusing
primarily on the legal sector. We are currently working with a
number of top-10 investment banks in New York and London, expanding
our offering to Capital Markets and other Financial Services
firms.
Find Out More
Contact our North American Sales Director, Marin Muzinic on marin.muzinic@priorysolutions.com
or email info@priorysolutions.com
for more information on our innovative offering for Capital Markets
and Financial Services firms.
Read more about the Research Monitor product and features here.
