Concertiv's Josh Webman participated in a panel discussion at the CFA Society of NY on July 28th, 2020
Key Takeaways
1: Align data portfolios with business strategy
- Track core and project-based data service contracts to allocate expenses alongside revenue.
- As data sources proliferate, an understanding of nuanced business requirements and 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 firm wide 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 leverage industry 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 game plan that benefits all parties.
To see the full panel discussion, follow here.
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