One Size Does Not Fit All

RIMES’ Integrated Solutions Checklist

At RIMES, we have developed a checklist for firms considering investing in an integrated solution. Our checklist criteria include crucial questions you must answer before making a purchase, including:

  • Have you confirmed the integrated solution covers all the benchmarks you currently require? (does it have the coverage?)
  • Do you need benchmarks that are not currently provided?
  • Who is responsible for working with index providers to source benchmarks that are not available in the integrated solution?
  • Do you know how long that takes? What is the additional cost?
  • Do you have systems outside the integrated solution that still require data?
  • Does it handle the creation and support for complex benchmarks (e.g. blends, hedges, customs)?
  • Do they handle all asset classes equally well?
  • Who is responsible for validating the benchmark data and remediating the inevitable errors?
  • Does it have a dedicated expert group to handle data queries, reissuances and other problems?
  • What is your cost in time, money and reputation for disseminating incorrect performance data or, trying to remediate errors before they are disseminated?
  • What evidence do you have that thorough checks are being applied by your integrated solution
  • What functionality is provided for supporting data transparency, data governance and data auditing?
  • Can the data be used as a source for applications/systems outside the integrated solution?
  • Once you’ve exported the data, are you required to augment it with data from other sources?
  • How do you insure the consistency of data that is used across multiple applications?
  • Can you reliably demonstrate the provenance and lineage elements of good data governance?
  • Have you considered the data vendor compliance ramifications?

Reviewing the checklist, you will see that data integration is only a small part of the challenge facing your firm. If you are to ensure you have access to the highest quality data, then what you need above all else is service.

Contact RIMES and find out how we can tailor your benchmarks and any other reference data feed to your exact workflow requirements, ensuring that you get the highest-quality, up-to-the minute data to assist decision-making and guarantee regulatory compliance.

Read our factsheet: “Benchmark and Reference Data Analytics Integration: One Size Does Not Fit All” here.