Xmon is the market leading go-to solution for monitoring reference data usage in real-time, optimising your spend and ensuring usage compliance. Xmon Insights, Xmon’s managed service, and the topic of this article, helps you make the most of the analytics and optimization opportunities available to you by Xmon. It gives your team access to experts in reference data pricing models and usage agreements allowing your business to make the most of our solutions and to swiftly respond to cost optimisation, analytics and usage compliance requirements efficiently and precisely.
Xmon Insights provides intra- and end-of-month benefits delivered by a team of experts, working as an extension of your market data team, to provide intra-month, ad-hoc and end of billing cycle benefits.
During the month
- Need help with an ad-hoc data usage query or compliance report?
Our team is at hand to quickly perform data extracts and ad-hoc reports to answer your pressing requirements around usage, costs, allocations and more. We can help generate custom reports and dashboards to provide answers on your data usage, data spend or any other ad-hoc requirement for data usage analytics.
- Do you need to estimate the cost of a data request or understand the impact of a new commercial model on budgeting?
Our team can help set up cost simulation reports, under different scenarios of your specification, for example a new pricing structure or current usage model. We will also explain how this price is calculated and any additional details your team needs to be aware of, in order to give you a complete picture allowing you to make informed decisions based on facts and backed by data.
- Does your team need help allocating spend for internal consumers?
Xmon helps you allocate cost per internal system on an ongoing basis, even if requests originate from a single mastering application, for example an EDM system. We do this through advanced tagging functionality, giving you granularity of your consumption. Our team is at hand to help create operational workflows and tagging rules to allow a fair and granular allocation.
- Do you need to on-board new consumers to Xmon and ensure they are correctly provisioned, monitored and controlled?
Our team will provision consumers, test connectivity and apply data entitlement and usage rule sets to your consumers depending on their requirements for data, saving you time and giving you the assurance that consumers will get the data they require, in an environment that is controlled and monitored. This important step ensures that costs remain under control, proactively avoids rogue requests and blocks cost spikes.
At the end of the month and billing cycle
- Vendor invoice reconciliation
Our team will reconcile uploaded invoices with Xmon computed data and identify discrepancies. Any difference will be highlighted for review, ensuring vendor agreement compliance to commercial models and costs sign off, saving your team time and effort in this complicated and time consuming process.
- Cost profile analysis and spend optimisation recommendations
At the end of the billing cycle, our expert BA team will analyse the spend evolution for a specific month at a high level and as well as in micro-detail, compare it to previous months and identify usage trends and cost optimisation opportunities. This will help your business understand the main cost drivers and optimisation opportunities available. Our team will drill down at request level and provide tailored recommendations and field-level analysis for usage, compliance and spend reduction, maximising your data agreements whilst minimising your spend.
- Regular follow-up on recommendations
All recommendations made are tracked through the Xmon Data Ops functionality, along with timelines and quantified impact. Our team will discuss these recommendations on a monthly basis with your team to prioritise their implementation and roll out.
All Xmon Insights customers get a dedicated senior analyst assigned to the account. The analyst will get to know your business and data usage requirements and patterns providing deeper insights and tailored recommendations that fit your needs and are inline with your operating model.
If you’re looking to optimise your reference data spend and ensure compliance within your enterprise, paired with industry expert business analysis and dedicated support, we are here for you!
Click here to contact us and find out more.