September 28, 2020 | technology | No Comments
Akhilesh Agarwal is the Senior Vice President of Global Business Partner Technology Solutions at apexanalytix.
Few business assets have more untapped potential than our vendor masters.
Imagine what would happen if hundreds or thousands of your supplier records were complete and up to date. What if this master data was free of duplicates and other errors? What if all of your vendor records were protected from fraudulent entries?
The improvement would be immediate. A clean, reliable and common dataset for all vendors enables you to make better sourcing decisions and eliminates fraud, fines and errors. Generally, it creates a more efficient sourcing operation.
Effective master data management (MDM) is a hallmark of growing businesses — poor data quality is no longer sustainable. Fortunately, new, automated strategies can help you get started and improve the ROI of MDM in your organization.
MDM Best Practices
Many businesses struggle with the