Improving the Accuracy of Spend Analysis through Data Quality

Organizations can spend as much as 60 percent of revenue to acquire the goods and services necessary to conduct business. Procurement professionals are being asked to reduce the organization’s overall spend, while simultaneously improving supplier collaboration. Companies now realize more than ever the effect of procurement strategies on their profitability and viability. Poor-quality product data creates difficulties in controlling the costs of production, promoting the productivity of the company, and the delivering finished goods. This white paper offers practical advice on how data quality technology can be used to address these issues.