BOSTON & LONDON & PARIS -- (BUSINESS WIRE) -- NelsonHall, the leading global BPO and IT outsourcing analyst firm, has today launched a new tool to assist buy-side strategic sourcing managers within the capital markets and banking industry in assessing vendor capability in Reference Data Management (RDM).
The NelsonHall Vendor Evaluation and Assessment Tool (NEAT) for RDM is now available to NelsonHall clients, and is also available for a period free-of-charge to buy-side organizations through NelsonHall and through its partners SIG and SSON.
The tool supports a number of potential RDM requirements specifically addressing the needs of organizations with, for example, strong requirements for RDM cost reduction, compliance, risk management, and process re-engineering.
The RDM NEAT tool is part of NelsonHall’s “speed-to-source” initiative. The NEAT tool sits at the front-end of the vendor screening process and consists of a two-axis model: assessing vendors against their “ability to deliver immediate benefit” to buy-side organizations and their “ability to deliver innovation in support of client-specific requirements”.
The vendors are scored against a wide range of criteria, establishing a number of scenarios, each representing a different business situation or client business need.
To add further value in applying the NelsonHall analysis, buy-side organizations can input their own weightings and tailor the RDM NEAT tool to their requirements against 35 individual vendor evaluation criteria. So, for example, a sourcing manager might decide that they would like to place more emphasis on TAT reduction, support for new country entry, or on U.S. RDM delivery capability. By changing the weightings using the NEAT interactive web tool, sourcing managers can tailor the vendor evaluation criteria to generate a bespoke view of how the vendors compare against one another.
NelsonHall is the leading BPO and IT outsourcing research firm with analysts in the U.S., U.K., and Continental Europe. The company takes a global approach to analysis of vendors and outsourcing markets and is widely respected for the quality and depth of its research.
In addition, with its “Speed-to-Source” initiatives, NelsonHall is taking the lead in making access to BPO and ITO research much easier than ever before.