Problem
Vendor information, like product information, has different uses based on the system within an enterprise. Accounting, Procurement, ERP, PLM, etc, all have different required views and specifics into the Vendor Master. Add complexities like weak control over how vendor information is gathered, mergers and acquisitions of internal companies, and the ever changing landscape of vendors with their own mergers and acquisitions, and the problem quickly becomes out of control. Gaps and inconsistencies as to how vendor information is presented can lead to reports that can adversely affect decisions in the areas of spend management and leverage, supplier performance analysis, business forecasting, RFQ analysis, and consolidation efforts.
Solution
The DataLens System automates the processes necessary to rapidly standardize and reliably govern master vendor and related product data – standardizing, matching and de-duplicating vendor information. Once the vendor file is complete and valid, the DataLens System can become a permanent validation, governance and correction step to ensure the vendor file never degrades in the future. The DataLens System provides an automated, closed-loop process to ensure the ongoing accuracy and completeness of vendor master and product data files.
