Improving supply and demand of Australian regulated government data
What are the biggest drivers of change?
A broad spectrum of Australian professional services rely on regulated government data, held by authorities such as ASIC, AFSA and State Title Offices, in order to fulfil their professional obligations and complete their work. This need to quickly and easily access a multitude of regulated data sources has given rise to an entire industry of Regulated Business to Business (B2B) Information Service vendors responsible for the procurement, packaging and distribution of this data type.
We conducted research into the Regulated B2B Information Services Market in Australia, in order to understand what has changed over the years and what is likely to change. Six key themes have emerged:
- Technological disruption
- Shifting customer requirements
- Trends in regulated searches
- The potential effects of registry privatisation
- The open data movement
- Possible changes in competitive landscape.
To formulate these perspectives, we then conducted interviews with both internal and external sources including:
- Domestic and global market participants
- Information service users
- Members of government and broader stakeholder groups.
We also completed an analysis of both global and Australian market and political trends.
Through our observations we found that this industry is about much more than simple document retrieval.
The capability of vendors to improve client experience and efficiency is not only a key centre of value creation within this industry but also critical to sustained success in the marketplace.
Whilst certain risks exist for current participants with respect to government policy, continued customer centred data innovation is likely to provide the industry with resiliency against these potential shifts.
This report delves into survey finding and conclusions further.