FITS - Financial Information Tracking System (Market Data Inventory Management)

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Overview

The Roberts Group’s Financial Information Tracking System (FITS) is the industry's most comprehensive market data inventory management SaaS solution. Originally developed by financial industry IT veterans, FITS empowers users in high-volume information environments by providing complete expense cost transparency through an intuitive, easy-to-use interface that seamlessly blends enterprise-grade functionality with a consumer-style experience. Effectively streamlining operations and automating repetitive functions in a thorough and precise manner, FITS ensures overall data integrity within inventories at all times. FITS handles all of the complexities that have typically made the management of financial information services a burden. While detailed management reporting and cost transparency are key, through intelligent automation and built in features, FITS is the perfect tool to manage down costs & identify potential savings across an organization.

Key Features

Advanced. Powerful. Configurable.

FITS is the most mature and robust SaaS market data management product suite in the world. Clients can combine its feature-rich modules into flexible configurations to serve the most complex vendor environments and scale as necessary.

Top-line features include:

  • Proven pure thin-client web architecture designed for global deployment
  • Feature-rich configurable user interface
  • Sophisticated pricing models to accurately reflect vendor billing
  • Graphical reporting dashboard for active expense monitoring
  • Flexible, web-based reporting interfaces with robust suite of reports
  • Detailed, automated invoice reconciliation with sophisticated accounting analysis
  • Automation of time-intensive and periodic tasks
  • Readily accessible historical inventory archive
  • Full audit trails for data additions, removals and changes
  • Highly configurable features avoid need for bespoke and expensive system customization
  • Built in process workflows
  • Logical referential database integrity ensures reliable inventory

Key Benefits

FITS enables fully optimized market data management that streamlines processes, reduces costs, breaks down business silos and enables truly informed decision making.

Inventory Management

  • Track details of Vendor, Platforms, Services, Contracts, Accounts, Prices, Employees, Locations, Departments, Cost Centers, Buildings, Project Codes, Invoices, Purchase Order and more!
  • Self-configure additional data elements to add additional desired fields for records without need for system customization
  • Automate bulk loading and reconciliation of allocation and usage from vendor files or systems.
  • Update prices from external sources
  • Load and reconcile HR and corporate structure data from internal systems
  • Configure future price changes in advance
  • Define rules to automatically add linked services or apply applicable discounts
  • Leverage profiles, eligibility, billing and netting policies

Cost Savings

  • Cost transparency for all stakeholders
  • Identification of unnecessary/unjustified services
  • Cancellation of services for departing employees
  • Proactive, time-sensitive contract management
  • Leveraged buying power for scale pricing
  • Identification of duplicate service usage
  • Application of available netting rules and MISU credits
  • Elimination of overpayments due to invoice errors
  • Periodic re-certification of inventory by end users

Efficiency

  • Order processing and routed approval
  • Perform bulk inventory reconciliation and updates
  • Time-saving elimination/reduction of data entry
  • Integration with current HR and Accounting systems avoids dual-entry
  • Quicker allocation and automatic reconciliation of invoices
  • Timely bill payments and facilitated processing
  • Automatic report distribution to business users
  • Invoice approval workflow

Vendor Compliance

  • Reliable vendor reporting
  • Vendor electronic declarations
  • Hard vs. soft Dollar administration
  • Project code capture and reporting
  • Restriction of non-compliant services via Profiles
  • Service addition and cancellation billing rules
  • Vendor specific Netting rule configuration
  • Exchange specific MISU declarations
  • Contractual service eligibility and billing rules

Invoice Processing

  • Ensure accurate billing and allocation
  • Calculation of advanced pricing and terms
  • Electronic processing of vendor invoices
  • Smart prediction of future inventory to ensure accurate reconciliation
  • Automatic detailed reconciliation
  • Invoice import
  • System linkage to original documents
  • Purchase order support to link procurement with billing
  • Detailed adjustable invoice allocation

Advanced Reporting

  • Multiple period trend and variance analysis
  • Multiple currency; or normalised to selectable reporting currency
  • Easy to use multi-dimensional analysis
  • Intelligent "drill-down" within reports for greater detail
  • Reporting fully integrated and self contained
  • Extensive suite of preconfigured report views with comprehensive filter options
  • Graphical and tabular report generation
  • Automated report distribution
  • Configurable self-build reporting for bespoke report outputs if desired

Accounting And Budgets

  • Full accrual and prepayment analysis
  • Bi-lateral interface to accounting systems
  • Full support for accrual and "cash" accounting methodologies
  • Detailed multi-period forecasting
  • Historical trend analysis, budget vs. actual
  • Automatically create multiple complex budgets based on selected prior history and projected growth margins
  • Early identification of budget over or under spend

Product/Service details

Geographic Availability
Africa, Asia-Pacific, Europe, Middle East, North America, South America