Evaluated Prices WebSeminar
Pricing services are seen as costly operations, and cutting out duplication of effort is essential to ensure budgets are spent wisely and resources are allocated efficiently, according to speakers participating in the Inside Reference Data Evaluated Prices Web Cast this week.
So far, many firms complain too much time is spent collecting information, and according to a poll, 33% of market participants say chasing vendors is the biggest time-waster for their pricing teams. Internal processes are also letting firms down, and 15% say they are wasting time chasing colleagues.
Still, many claim the most time-consuming process is linked to the financial crisis and the increase in exceptions. The time spent dealing with price challenges has typically gone up in the past few years, and 27% now see it as the biggest time-waster.
"What we tend to get asked to do is try to automate as much of that communication process as possible, and that's part of the exceptions management flow," said New York-based Rick Enfield, product business owner, Asset Control.
Follow the link below to listen to the web cast with speakers from BNY Mellon, State Street, Asset Control and SIX Telekurs.
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