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Procurement Market Intelligence Report

Financial Data Services in Canada
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Financial Data Services in Canada?

What is the average price of Financial Data Services in Canada?

This procurement report includes pricing information to help you purchase Financial Data Services in Canada. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Financial Data Services in Canada been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Financial Data Services in Canada yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Financial Data Services in Canada?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Financial Data Services in Canada with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Evaluate major factors to mitigate risk

How risky is the Financial Data Services supply chain in Canada?

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HIGH

MEDIUM

LOW

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Regulation

  • By what methods do you stay informed about ongoing regulatory changes?
  • What products and services, such as compliance management services, do you offer to help your clients stay up to date with compliance?
  • What are your typical procedures concerning privacy and security rights?
  • Have you ever faced a lawsuit pertaining to a breach of confidentiality, privacy or security issues? What was the outcome?

Competition

  • As an established financial data service provider, how do you compete with the emergence of small, niche players into the market?
  • As a small, niche company, how do you compete with the reputation of large, established financial data service providers?
  • What is your reputation like among customers and peers, and how have you developed it?
  • Has your firm completed any acquisitions over the past three years? If so, how did this expansion affect your business model and service portfolio?

Complementary Services

  • What additional finance-related services do you offer? How will including some of those services impact pricing?
  • Do you offer a free trial period to test out your service? What are the stipulations of the trial?
  • How have your additional services affected the level of competition you face?
  • What other services do you provide in-house that you think may help my company?

Sourcing across North America?

Combine Canada Spotlight Reports with our US Market Intelligence to bolster your North American strategy

Key elements for every RFP

What should my Financial Data Services in Canada RFP include?

Project Budget

  • Buyers should specify their budget for the financial data services.
  • Buyers should provide alternative budgets, if available.
  • Buyers should provide a list of nonessential services that can be removed if needed, or trimmed down if the budget is exceeded.
  • Buyers should provide information regarding whether the budget includes hardware installation, system assembly and training. If these services are not accounted for in the budget, buyers should provide a budget for additional services that may be needed.

Selection Criteria

  • Buyers should consider the services available from each vendor and place a heavier weight on the vendors that can match their needs.
  • Buyers should consider the accuracy of the data being provided.
  • Buyers should take into account the cost of the services.
  • Buyers should consider the reputation and experience of the supplier.

Project Schedule

  • Buyers should provide a list of key dates during the RFP process, including the final date to submit questions and final bids.
  • Buyers should include key benchmark dates, such as the date by which implementation of the new system must occur and the dates on which user training should occur.
  • Buyers should specify the desired length of the contract and request future contract renewal terms.