Thanks to our good friends at the Institute of Financial Operations for giving me an opportunity to write a piece in their magazine about a topic that I am quite passionate about – Supplier Information Management! This article ran in the Q3 2015 edition of FinancialOps and they have been gracious enough to allow Lavante to offer the informative White Paper as a free download on our website.
In the piece, I am able to inspect supplier information from several different angles: I look at the 6 different areas in the Procure-to-Pay (P2P) suite where quality data has become an invaluable component; I discuss how major stakeholders through the P2P process are reliant on sharing data with other departments to allow for enterprise cross functionality; and finally I discuss several “must haves” in your approach to managing and controlling supplier data to ensure that you are maximizing the output from your P2P systems.
I invite anyone reading this blog to download a free copy of the document and join me in the discussion – or in the the debate! I believe, in the P2P community, we are seeing a shift in focus from automation systems to quality data. As companies have spent the last ten or more years building out incredible point solutions for the P2P space we now understand that any system is only as good as the data populating it. The new attention on driving quality data is a necessary step in our unending pursuit for driving efficiency and maximizing ROI in all that we do.