Clean up the Supplier Data Mess
Top Performers Achieve Cash and Spend Cost Savings with Good Supplier Data
Pierre Mitchell, Chief Research Officer at Spend Matters, set out to answer this by examining the correlation between good master data and value created across procure-to-pay operations.
The report debuts a new Analysis Framework that outlines KPIs for quality supplier data, practices needed to improve those KPIs and digital enablers to make the improvements.
Leveraging apexanalytix benchmark data, the report looks at multiple ways accurate data and technology can be leveraged. One example is how a supplier registration portal can create value and the data showed that companies with a supplier registration portal were:
- 104% more likely to be in the top performer category for on-time payments
- 14.4% lower cost per invoice compared to top quartile surveyors without a supplier registration portal
The best firms aren’t just pushing self-service functionality to suppliers. They are cleaning, validating, and appending vendor data continuously and at a field-level, under a broader data governance model.
Golden data will help lead to golden processes – and the data backs it up.
Complete the form to download the report now. Talk to us if you want to create value with accurate master data.