Managing costs is an extremely important task for any company, but it is particularly so for financial services SMEs looking to grow. Growth, however, requires numerous steps and tools to be achieved. This includes the right software that can help you deal with ever-increasing data volumes and always-shrinking time to market.
Over the past three weeks, we have looked at how you can identify your software requirements, choose the right software developers, and whether you should go for open-source or enterprise bespoke financial software. Today, we’ll look at the three pillars of cost-effective financial data modelling software.
Centralise Data
Data modelling for an investment company usually requires more than one source. The issue is that the number of sources is rarely static; in fact, you can rest assured that the more you grow, the more sources you’ll have to gather data from. A good way to always be ahead of the game in this area is to work with technology that is capable of connecting all your sources into one access point.
This can be done through technology issued by our partners, TIBCOⓇ, whose TIBCOⓇ Streaming event stream processing software allows you to connect with as many sources as needed, normalise that data, and apply any real-time or scheduled models with the capability to process massive amounts of it quickly by parallel computing.
Save Time on Coding
As the financial market continues to evolve, data modelling requires updating too, so it’s important that we and our software are always flexible. Once again, TIBCOⓇ Streaming comes to the rescue as it can save developers more than 50% of the time traditionally spent on coding such models.
So, no matter how complex your project is, you can expect it to:
- save you at least 50% of the time you’d normally spend waiting for coders to create your new models,
- reduce your time to market, and
- give you an edge over your competition in the process!
Explore Data Easily
Finally, all this is meant to give you better access to monitor and explore the data you are processing and modelling. In this case, TIBCO SpotfireⓇ, which we use in our Wakett Framework, is the ideal software as it gives you the flexibility to add dashboards that allow you to navigate static data or data being processed in real-time.
The best part is that users can have different customisable dashboards.
But you don’t have to take our word for this: TIBCOⓇ is not just our partner but is also a key partner of Mercedes AMG-Petronas Formula-1 team, allowing them to have access to real-time data during Formula-1 races!
Are You Ready to Win the Race?
So, what are you waiting for? Grab your data by the horns and capitalise on all the information waiting to be tapped by getting in touch with us!