S&P Global Inc.’s SPGI division, S&P Dow Jones Indices ("S&P DJI") yesterday announced that it has inked a deal to collaborate with Axioma, a provider of enterprise market risk and portfolio analytics solutions.The collaboration will see the integration of S&P DJI's global brand recognition and capabilities in indices (serving institutions and intermediaries) with Axioma's robust analytical tool kit and expertise.So far this year, shares of S&P Global have gained 6.3%, outperforming the 1.9% rise of the Zacks S&P 500 composite. Creation of Optimized Factor-based Strategy Indices in FocusThe tie-up is expected to produce Axioma-powered S&P DJI branded indices. These indices will be designed to deliver optimized single- and multi-factor solutions that advance the forefront of smart beta, ESG and related investment themes.According to Jamie Farmer, Chief Commercial Officer, S&P Dow Jones Indices, "This collaboration will accelerate the pace of innovation to deliver transparent, strategic factor indices that are designed to meet the increasing demand for benchmarks that encapsulate quantitative investment methodologies."Bottom LineBy leveraging Axioma’s systematic portfolio-construction capabilities and risk analytics, S&P DJI will be expanding its factor index offering, which, in turn, should benefit its top line.In the last reported quarter, S&P DJI’s revenues improved 10% year over year, courtesy of growth in asset-linked fees and revenues associated with data and custom subscriptions. The segment contributed around 13% to S&P Global’s total revenues in third-quarter 2018.Zacks Rank & Stocks to ConsiderCurrently, S&P Global is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.A few better-ranked stocks in the broader Business Services sector include Paychex, Inc. PAYX, Genpact Ltd. G and WEX Inc. WEX, each carrying a Zacks Rank #2 (Buy). The long-term expected EPS (three to five years) growth rate for Paychex, Genpact and WEX is 8.5%, 10% and 15%, respectively.3 Medical Stocks to Buy Now The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline. So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.See them today for free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report S&P Global Inc. (SPGI): Free Stock Analysis Report WEX Inc. (WEX): Free Stock Analysis Report Genpact Limited (G): Free Stock Analysis Report Paychex, Inc. (PAYX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research