We'll plan to leave everyone who attends the webinar with not only a basic understanding of the challenge, but also how to build a business case (based on hard dollar savings) to target the area head on. Specifically, we plan to cover:
- Explore both hard and soft costs of poor supplier data quality when it comes to compliance, business risk and finance/procurement operational efficiency
- Identify areas where poor supplier data is most commonly found
- Showcase what typical supplier data environments look like before and after cleansing and maintenance efforts
- Present the value of introducing supplier information management capabilities to insure ongoing data accuracy
One of our fundamental premises in the webinar is that information grows stale quickly. This is the heart of the supplier data quality challenge (and incidentally, while pursuing one-time efforts is all but a waste of time in the spending and payment scheme of things). As data ages, the short half-life of supplier data become abundantly clear. Whether it's line or SKU level data coming out of a payables systems or supplier-provided invoice data in the context of a spend analysis project or vendor information (e.g., contact, banking, payment details) and additional A/P and supplier-provided datasets (e.g., credits) as part of an audit recovery effort, data gets old fast -- and will be all but useless in a matter of quarters from the time it is corrected and actively managed on a one-time basis.
If you're looking for an area where you can likely save (and implement) millions of dollars of potential first-year procurement and finance savings in an area outside of sourcing and P2P, join us tomorrow (along with webinar sponsor Lavante) for: Exploring the Dirty Secrets of Dirty Supplier Data -- Adding Up the Costs for Finance and Procurement.