Revolutionize your
unstructured data lifecycle

A $6Tr Financial Services Industry spends more than $40Bn in acquiring and managing data. According to a survey by TMM Data & Digital Analytics Association, ~40% of data professionals spend more than 20 hrs / wk accessing, blending and preparing data rather than performing actual analysis. With more than 90% of all new enterprise data appearing in unstructured sources, businesses face an arduous challenge of making the data usable before losing its economic value. While legacy solutions are rigid, expensive and difficult to implement, companies lack tools to synthesize valuable unstructured information at scale. Refer to the visual representation of unstructured data flows across various organizations within Capital Markets.

With increasing mandates on supply chain sustainability, businesses either have to spend thousands of dollars to work with external organizations and/or build an internal workforce. Either of those options fail at providing the breadth and depth of coverage across the entire supply chain quickly and efficiently. As a result, the businesses are unable to take appropriate actions to manage the sustainability risk.

Vendor Management process can not only be expensive (both in terms of resources and cost) but also expose the entire organization to unprecedented levels of risks, if left unchecked. According to a study by The Hackett Group, “It costs roughly $700-$1,400 in internal costs (i.e., labor, outsourcing, technology and related overhead) to source each supplier, set it up in internal systems, transact with it and manage the relationship on an ongoing basis. Even beyond money, dealing with paperwork manually, fixing errors and discrepancies, and communicating with suppliers over inquiries costs companies about 6500 hours a year.” Each supplier added to the supply chain can result in numerous compliance risks. Are they utilizing corrupt practices somewhere down the line like forced labor, poor work conditions, or even human trafficking? Without an efficient process in place alongside the skill and man-hours to verify each of your suppliers compliance standards as well as consistent checks to ensure their standards are regularly updated and maintained, businesses run the risk of severe ethical and reputational harm to the business.