Clean That Room Now! All across the board, businesses have problems with inaccurate supplier data. All around the world parents have problems with their children's dirty rooms. If you have children, I'm sure you've asked them at one time or another to clean their room. I bet that most of the time they don’t end up cleaning [...]
So you're probably wondering - How is Vendor Master Data Management like a children's game? Do you remember playing the “Telephone” as a child? The message being passed along gets changed every time and by the time the last person receives the message, it has completely changed and everyone laughs at the last person who [...]
Supplier Data management is the basis for efficient strategic sourcing and helps considerably with costs reducing initiatives. Quality supplier data enables organizations to manage and monitor their supplier records while improving and even optimizing supplier relationships.
Blog Series: Lavante Guide to Optimizing Supplier Statement Auditing This is the second in a four part blog series by Lavante's Josh Morrison. In this series Josh lends his insights from over twenty years of experience as a Procure-to-Pay expert. Blog#2 –Processes & Controls Surrounding Supplier Data Accounts Payable Recovery Audit has been around for [...]
Without current, accurate vendor data, a long list of corporate initiatives can be rendered unmanageable or even impossible to execute. From procure-to-pay, supplier diversity and tax compliance to strategic sourcing and social responsibility, vendor data touches multiple processes and can have a dramatic impact on priorities throughout an organization. Over the past few year, my [...]
Bad supplier data can be at the root of many finances and accounts payable challenges. And there are many ways vendor data can be processed that cause duplicate vendor files to be set up. Consider the various ways that an enterprise can construct the name of their supplier in their ERP system. The screenshot below [...]
As last year wrapped up we were fortunate to work with PayStream Advisors on research that they were doing to help further explore and define the Supplier Information Management (SIM) market. The document they have produced, "The Power of Supplier Information Management Technology" explores the complex requirements of managing supplier data. The paper serves as [...]