- Cost: Unutilized or duplicate subscriptions entail a substantial cost
- Efficiency: Non-centralized view of data, unproductive monitoring mechanisms, and manual processes create inefficiency
- Managing vendor relationships: A robust process is necessary to manage vendor relationship and optimize the cost and efficiency of dealing with data flow
- Compliance: Regulatory authorities have zero tolerance for unauthorized access to data
- Vendor relationship management: For transparency in managing data, vendors, and consultants, and in ensuring compliance – makes it easier to flag subscription problems, identify cheaper alternatives, etc.
- Automation: Ensures data integration, using best-in-class algorithms and techniques as well as business intelligence services (BIS) – can help streamline the creation of a transparent and accessible data mart
- Contract and compliance checks: Provides increased awareness of terms and conditions between the subscriber group and the compliance team – helps escalate cases of non-compliance
- Efficient process documentation: Essential in any thriving, dynamic company
- Customized MIS reporting: Supports strategic decision making and risk management
- End-user training: Ensures non-duplication of subscriptions and efficiency of data access