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To migrate or not to migrate your market data inventory platform

How happy are you with your market data inventory platform? Is it modern? Does it offer state of the art reporting capabilities? How proactive and responsive is the customer support? How much investment has been made in the product? What collaboration have you had with their product roadmap?

If you’re not happy with the answers to these questions, but you continue to rely on an outdated platform and poor support because the thought of migrating to a modern platform seems too great a challenge, perhaps it’s time to think again.

The objections to migrating are understandable. You and your users may be very used to your current market data inventory system, and so it can seem too difficult to re-educate them to use a new platform. You might believe it would take too much of a financial and resource investment to manage any migration process. Or you might not think it is worth the effort as you have no clear view of the potential ROI.

Here at TRG we have had years of experience in managing the migration of our clients from legacy services to the FITS market data inventory platform and FITS+ managed service. We have helped over 30 clients with their migration to FITS from competitor systems and, as a result, know the process inside out. Because of this we’re able to manage migrations quickly and easily, populating historical data from legacy systems with automated tools, to ensure a smooth transition.

The vast amount of heavy lifting is managed by the TRG team. TRG has, over the years, created its own templates and processes, and streamlined the mapping of data models from other systems into its own data models.

The resource requirement from the client side is relatively small. In typical migration projects, a project manager is needed to spearhead the project and access to the data is required, but the rest of the work is done behind the scenes by TRG. Once the data is in place, TRG works with you to determine workflows which it then implements.

TRG provides a comprehensive training programme for your team to get everyone up to speed on the new platform, and it provides ongoing support that is widely recognized as proactive and responsive, as backed by our 95% client renewal rate.

This process can be more cost effective than you might think.

But what are the benefits of moving to FITS? As well as the strong customer support, you’d get access to the industry’s most modern market data and enterprise spend management platform, its sophisticated reporting, and you’d receive the ongoing investment from the significant R&D investment that is made in FITS. You might also want to consider moving to a managed service, in which case our FITS+ managed service might be the right option for you.

Of course being able to prove ROI on a new system is a very valuable way of justifying budget – more on how to do this in a future blog.

If you’d like to talk to us about how we might be able to help you move from a legacy platform to FITS, get in touch with us.