Jumping on the Buy Bandwagon
- Chantel Arnett, Senior Manager, MDM and Data Governance, Lennox International
- Akhilesh Agarwal, SVP, Global Business Partner Technology Solutions at apexanalytix
9:00 AM ET • 14:00 GMT
Why Lennox International Switched from a Build to a Buy Strategy for Supplier Master Data
Chantel Arnett, Senior Manager of MDM and Data Governance at Lennox International, leads the enterprise program for managing data as an asset and when they started on the vendor MDM initiative they did their homework with a thorough review of options to build or buy the solution. During this process, a global internal accounts payable audit revealed both process and control weaknesses and incidents of fraud with tangible financial impact exposed risks – leading to the prioritization of vendor master data management.
Hear from Chantel about weighing the pros and cons of building an MDM solution from scratch versus implementing a solution that was fit for purpose with built-in best practices and templates. The apexanalytix vendor MDM solution checked all the boxes and dovetailed with initiatives such as consolidation of redundant vendor records, automating supplier onboarding, tighter controls around strategic sourcing, and enforcement of payment terms.
Today, Lennox is spending their time fine-tuning the vendor master data management system to their unique business requirements, knowing that they have an industry-leading foundation of supplier risk controls, vendor master best practices and time-saving supplier onboarding.
Join the webinar for a discussion on:
- Importance of automated third-party validations for complete vendor records and supplier risk mitigation
- Acceleration of time-to-value and return on investment
- Integration points and data flow
- Why Lennox International chose a buy strategy rather than build strategy
- Industry analyst commentary on apexanalytix supplier solutions