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All Posts Term: vendor master data
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FinanceDataProcurement

The road to accuracy: Vendor Master Data Management

In the Procurement business accuracy is a key component for succes. And the data you rely on play a significant role in this. Therefore manageing your vendor master data should be a high priority for every procurement executive. The question is; which method is the best fit for this time? Online supplier portals or relying on P2P networks of reliable partners?

Become data driven or fall behind

Data has become an invaluable asset for companies, at least the ones that have unlocked its power. Companies that are able to unlock the power of their raw data have a head start over their competitors, and thus more and more companies are taking their data analyses more serious. Accenture, a leading “data” company created a model to measure the data-maturity of a business. It consists out of five stages which they explain as: Ad-Hoc, Organize, Tactical, Critical and Industrial. These five stages are set of against five dimensions: governance, architecture, development, regulation & ethics and user support.

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