order to provide clients with sophisticated enhancements. SAM provides you with a global savings methodology as well as the opportunity to harmonize processes, roles and responsibilities and reporting tools. Consequently, transparency for cost savings initiatives often requires a significant amount of effort to report and runs a high risk of incorrect data.
The goal of the SAM - Savings Methodology is to provide an overview on all cost relevant activities for a certain market data user group, thus all market development as well as all savings activities, in order to be able to report on the total cost impact. For the purpose of SAM - Savings Methodology, the following saving types have been defined by BST:
Â· Rate reduction: Rate reduction is a benefit which is generated by lowering the rate for a product or service through a new agreement. The âbase priceâ reflects a previously paid price â or an initially received (average) compliant bid.
Â· Demand Management - Self Declaration: Users may autonomously select one or more services to remove, via self declaration tool provided by BST as separate module.
The market development types are measuring all cost relevant changes in the allocation of market data services within FinOffice which are not defined as savings. The following market development types have been defined:
Â· Service increase: Addition of a service for an existing user (services for new users are covered under "User increase / decrease").
Â· Exchange price change: Cost change due to exchange rates variances.
The SAM - Savings Methodology mainly differentiates between two types of report: Activity and Performance Reports. These Reports display monthly changes to actuals from month to month or year to date.
The SAM Reporting allows a top down view on market developments and savings and provides decision makers with clear facts about all market data cost and trends managed with FinOffice.
The demand for BSTâs cost management solutions has constantly increased in recent years as firms look to strengthen their operational infrastructures, achieve increased efficiencies, manage costs and at the same time improve client service. With the FinOffice5 - solutions BST provides an exceptional high level of automation. The substantial added value achieved through the use of FinOffice5 products has brought more and more financial institutions to use BSTâs solutions as there preferred Market Data Management and Telecom Expense Management solutions.