RIMES launches tool allowing asset managers to measure benchmark & reference data management costs

Methodology developed by Forrester has been used to valuate product and services at many Fortune 500 companies

RIMES, the leading provider of managed data services for the buy-side, today announced the launch of the Total Economic Impact (TEI) Estimator.

Developed in conjunction with research and advisory firm Forrester, the tool allows asset managers to understand the costs and benefits of RIMES Managed Data Services versus in-house data management. This is the first time that buy-side participants can receive a customized estimate of the potential data management cost savings.

Forrester experts created the TEI Estimator by measuring four fundamental business elements: cost and cost reduction, benefits to the entire organization, risk and flexibility. Clients enter in their range of assets under management, along with several questions about the firm’s growth profile and current data management costs, which are used by the TEI Estimator to calculate the potential benefits.

The model uses information from research and analysis, conducted independently by Forrester, into the benefits and costs of RIMES Managed Data Services including in-depth interviews with a number of existing RIMES clients. The same economic impact valuation techniques have been used by Forrester to measure benefits and costs for dozens of leading global multi-national firms, including Cisco, Dell, Google, Microsoft and SalesForce.

Forrester identified several key benefits of RIMES MDS, including:

  • Improved productivity as a result of increased operational efficiency
  • IT resource cost reallocation/savings with improved data feed and data delivery maintenance
  • Improved ability to scale, leading to cost reallocation/avoidance of additional headcount
  • Faster time-to-market, resulting in improved front-office productivity
  • Reduction in third-party legacy vendor fees

“Determining the full, ongoing costs of data management can be a very difficult task for asset managers. Forrester created this Estimator for us to make it simple to show the value of a data management solution, arming them with a way to estimate the value of our product for their business using a third-party model,” says Steve Cheng, Global Head of Data Management Solutions at RIMES.

The high-level TEI estimator is available to use at the Forrester Resource Center on www.rimes.com/forrester. The full model is available upon request to RIMES: please contact us. More information on the Forrester TEI methodology is available at www.forrester.com/staticassets/marketing/consulting-pdfs/Consulting_TEI.pdf

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