Concertiv's Josh Webman participated in a panel discussion at the CFA Society of NY on July 28th, 2020
1: ALIGN DATA PORTFOLIOS WITH BUSINESS STRATEGY
- Track core and project-based data servicecontracts to allocate expenses alongside revenue.
- As data sources proliferate, an understanding of nuanced business requirementsand vendors, vendor processes, and data supply chains is of paramount importance to enabling solutions for the business.
2: INSTITUTIONALIZE DATA SERVICES ASSESSMENT
- Develop operating infrastructure and firmwide processes to evaluate emerging, alternative data sets alongside traditional ones.
- Leverage front-office teams, industry expertise, and benchmarking to assess commercial value, data quality, and overall utility for the business.
3: INVOLVE STAKEHOLDERS THROUGHOUT THE FIRM
- Include stakeholders across the firm in data procurement, especially in emerging areas such as ESG.
- Set expectations and integrate requirements from investor relations, legal, and compliance teams.
4: BE PROACTIVE AND LEVERAGEINDUSTRY RESOURCES
- Don't underestimate vendor sophistication around bundling, packaging, and other pricing strategies.
- Be proactive and come prepared to negotiations with industry intelligence,counter proposals, and a gameplan that benefits all parties.
To see the full panel discussion, follow here