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Recent studies project that spending on market data will continue to rise. Business demands and regulatory pressures are creating a need for more data and data suppliers are more creative in how they license and charge for data usage. In addition, we are seeing consolidation of the big data aggregators, who account for as much as 75 percent of commonly needed services, while many niche providers are also entering the market with specialized data.


For organizations that depend on good data, this means more complex data service contracts and steadily escalating costs, which most procurement departments lack the expertise to handle.


A data sourcing and contract management strategy is needed to reign in rapidly rising costs, while ensuring that researchers and other professionals have access to the information they need.


ICONITEL can help.


AREUS is a research portfolio management and cost control solution designed specifically for subscription products. AREUS automatically tracks vendors, contract values, users, renewals, and more, giving organizations a full-picture view to make informed decisions


Optimizing data services, while minimizing costs, requires a comprehensive approach that includes understanding demand and usage patterns, current sources and contract terms, and price bench-marking within the context of your industry and user types.