As I mentioned last time, proactive change management is essential for successfully working with data vendors and avoiding any unwanted surprises.
A big part of what we do at GoldenSource is managing data feed changes from our various data vendors to help ensure ongoing business continuity and minimize operational risk for our clients.
To address this challenge, we have a three-step operational model specifically designed to take away the operational distractions—all the noise that often accompanies inevitable changes in data sourcing. With this approach, our clients can:
- Communicate consistently and transparently;
- Be ready for any changes to vendor data;
- Improve business continuity and overall performance; and
- Capitalize on positive updates from data providers without delay.
Here’s how it works:
Step 1: Vendor Feed Change Confirmation
Whenever a data vendor announces a change, our team is notified. We immediately communicate to our clients – the data vendors’ licensees – that we are aware of the change. This step provides reassurance and transparency, knowing that these changes are on our radar and are being addressed.
Step 2: Assessment
Every change is promptly placed in our assessment queue. Our Connections Service Group, which specializes in monitoring and evaluating data feed changes, reviews the impact on the loader product (the Connection) and also on certain non-functional aspects that we know from experience are also very relevant to our clients’ integrations. We conduct a standardized assessment and share detailed findings, so a client can clearly understand if (and how) the change affects their operations.
Step 3: Pre-emptive Implementation
Where action is required, we prepare updates and ensure they are made available to all subscribers in advance of the data vendor’s change effective date. This ensures you and your teams have sufficient lead time to perform any preparational work, safeguarding seamless integration and uninterrupted business performance, while avoiding unnecessary noise for change without true associated business value.
This three-stage approach helps ensure that every change—big or small—is met with an appropriate, proactive response. Think of this model as a kind of ‘antivirus’ for data vendor changes: it minimizes risks, supports business continuity, and enables clients to unearth valuable opportunities that these changes may bring.
If you have any questions or would like further details about how our operational model can benefit your organization, please don’t hesitate to reach out to me. Always happy to talk!