Overview

During the phased acquisition of a leading provider of soft commodities by a large UK-based financial services company, the financial services company (Company A) engaged CJC’s Commercial Management team to take over a managed market data administration service due to various complexities stemming from the acquisition. The managed service covered the full range of processes from request management, procurement, and inventory management to invoice processing for market data, telecoms, and IT services.

Following a limited handover, CJC performed an in-depth audit and discovered the inventory had previously only been used for invoice reconciliation. Other processes e.g. contract management and user allocations, were neglected and consequently led to escalating costs for Company A.

To enhance the managed service’s benefits for Company A, CJC swiftly eliminated historic information gaps in the inventory tool before maximising usage of the platform’s innovative tooling to provide a comprehensive view of Company A’s market data and telecoms inventory, contracts, and vendors. Subsequently, this identified previously unnoticed breakdowns in workflows and processes. An immediate outcome of the enhanced visibility was £2.5m in cost avoidance, which will progressively increase as licenses are managed ongoing instead of additional procurements.

About CJC:

CJC is the leading market data technology consultancy and service provider for global financial markets. CJC provides multi-award-winning consultancy, managed services, cloud solutions, observability, and professional commercial management services for mission-critical market data systems. CJC is vendor-agnostic and ISO 27001 certified, enabling clients the freedom to focus on their core business. 

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