Use AI to Clean, Validate and Enrich Vendor Master Data
Global Pharmaceuticals
Overview
This company is one of the largest biopharmaceutical providers in the world with more than 100,000 employees in 100 countries. The firm focuses on healthcare innovations that can effectively prevent and treat illnesses.
Challenge
Procure-to-pay executives wanted to assess and improve the quality of supplier data held in corporate systems and databases—providing a solid foundation for accounts payable and other strategic procure-to-pay initiatives.
Solution
apexanalytix was asked to clean and vet more than 22,000 supplier records using its smartvm® vendor master cleansing services. Experts armed with advanced artificial intelligence, predictive analytics and robotic process automation tools were able to consolidate, score and classify vendors, identify duplicates, scrub and append information and produce rich reports—all in record time.
Results
• Identified 13,960 vendors with incorrect TIN or VAT numbers.
• Identified 452 duplicate vendor records.
• Identified 61 vendors who appeared on prohibited entity watch lists.
• Added missing addresses to 6,249 records.
• Added valid points of contact to 6,965 records.
• Produced a comprehensive report of our findings.