In today’s data-driven financial landscape, access to the right market data is critical- but it doesn’t come cheap. As data vendors continue to increase prices through demand and annual indexation, banks face growing pressure to optimise costs without compromising access or quality.
At the start of 2024, one of Europe’s leading banks was spending millions annually across dozens of data vendor contracts, and they knew it was time to act. They turned to Synpulse to help assess their usage, renegotiate smarter, and take back control.
The Challenge
- Data vendor costs had reached a tipping point.
- Contracts were complex, fragmented, and difficult to evaluate.
- Usage insights were unclear. Value was being lost.
The Mission
Together with the bank, Synpulse launched a data vendor cost optimisation initiative focused on:
- Reviewing high-impact contracts nearing renewal
- Identifying underutilised services
- Highlighting consolidation and renegotiation opportunities
- Strengthening procurement strategy and governance
The Result
With a structured, cross-functional approach that combined data cleansing, contract deep-dives, and commercial strategy…
- Over €500,000 in savings were identified – and are now on track to be realised over the next three years.
- The client now has a clear roadmap, stronger procurement leverage, and a more scalable vendor management strategy.
- Finance, Procurement and Business teams are aligned around cost transparency and value delivery.
Curious how we did it?
Download the full use case to learn how Synpulse helped this leading bank:
- Evaluate over a dozen vendor contracts
- Identify duplication and inefficiencies
- Create an actionable negotiation plan
- Lay the foundation for strategic vendor management in 2025 and beyond
