Total cost of ownership: the Suade solution
As markets tighten and technology usage increases, lowering the total cost of ownership (TCO) is critical to being able to increase profits within financial institutions. Modern tools and technologies are increasingly popular as they deliver more accurate and reliable outputs with increased performance, whilst reducing cost of ownership after licencing costs.
Regulatory compliance departments in the financial services industry are frequently seen as nothing more than a cost centre. As such, a manageable total cost of ownership is particularly important. As RegTech is transforming the regulatory compliance space at an increasing pace, now is the perfect time to take stock of the full impact of RegTech and re-evaluate existing total cost of ownership models.
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True RegTech solutions have a drastic impact on the total cost of ownership associated with regulatory compliance by reducing many of the ongoing costs associated with maintaining the solutions and implementing upgrades and updates to deal with regulatory change.
With any purchase of business solutions, procurement departments go through a rigorous analysis process to determine the total cost of ownership of the solutions they purchase. This is especially true for solutions designed to deal with regulatory compliance.
If you are currently working on improving your regulatory reporting processes or would like to learn more about how Suade is automating regulation for global financial institutions, then please get in touch to arrange a demo.