BIS, Management of sensitive files
Advising on specialist information sources and negotiations with commercial suppliers.
The Issue
InfoSource was contacted by the Business Relations Analyst team and the Shareholder Executive to suggest suitable databases for company and financial information.
One of the databases that matched their requirements was Thomson ONE Banker, a database providing financial information from Thomson Financial.
What we did
We made the initial contact with the account manager at Thomson, who provided a demo to the head of the analyst team and assistant director of the Shareholder Executive. They agreed that this database could meet their needs.
InfoSource arranged a 5 week trial so that the product could be fully tested. BR Analysts, members of the Shareholder Executive and Companies team in InfoSource participated in the trial.
We set up formal training before, during and after the trial – this involved visiting participants at their workstations with a Thomson trainer to resolve any issues and coach individuals to ensure that this product was really suitable for their work.
The Outcome
It was agreed by all participants that Thomson ONE Banker was a valuable and versatile resource. InfoSource was able to negotiate a much reduced price for this database, gaining full unlimited access for subscribers for significantly less than the list price.
The Shareholder Executive already subscribed to some aspects of Thomson ONE Banker, but as part of our negotiations, Thomson reduced the cost of their existing contract and provided access to additional content that they had found useful during the trial.
Other groups in the BIS have since expressed an interest in this resource; any further subscriptions will lead to a further reduction in cost per user.
Although Thomson ONE Banker is a good product, the key to the success of this project was face-to-face communication with colleagues in other teams and the well-planned coordination of the project. InfoSource makes the most of its relationships with commercial information suppliers and experience of contract negotiation to provide an excellent advisory service to customers who need access to more specific information.