Oakley Radar shades with rolex replica uk a micro-USB port on each arm. On the glasses are a touch panel on the left for music playback and Siri control, a three-mic array that Oakley says is optimized to hear you even with wind IWC replica watches whipping by at top speed, as well as an embedded system that's the brains of the Pace. There's also a battery that will Balenciaga replica handbags last four hours with.
Supplier Data - Vendor Portal Expert
 

Supplier Data

Vendor Portal Expert  > Supplier Data
Supplier Data

Bad supplier data can be at the root of many finances and accounts payable challenges.

There are many ways vendor data can be processed that cause duplicate vendor files to be set up.

 

From inconsistent naming conventions to the same vendors located at different addresses, the risk of Supplier Data errors are vast, and the impact of this bad data can be dramatic.

 

Based on a research report by Jason Busch and Thomas Kase of Spend Matters, here are the top seven areas to focus on to avoid the costly impact of bad supplier data:

 

1) Create a single undisputed point of supplier data reference – With processes to automate the vendor registration process, to collect supplier communications in a shared repository and to assure data entry accuracy, organizations and dramatically eliminate costly errors.

 

2)Adhere to data compliance requirements – Technology solutions can build in flexibility to support new compliance requirements by dynamically engaging with vendors around business changes, reducing compliance turnaround.

 

3)Assure data security and privacy – In partnership with the Information Technology organization, Finance, and A/P need to have strong adherence to security and privacy governance for data security, IP protection, and information privacy.

 

4)Eliminate payment errors – A focus on processes to remove payment errors will reduce expenses around reissuing checks, late payment penalties and reduce overpayments and duplicate payments which can occur whenever a vendor is set up twice in the system.

 

5)Establish business continuity dependencies – Often owned by the Procurement team, business continuity impacts areas including material costs such as wrong parts, the cost of product or service disruption when stock runs out, operational overhead. It is also important to evaluate sales-side impact before making buys-side decisions, especially if a vendor is also a customer.

 

6)Minimize overhead for supplier data management – By implementing supplier self-service maintenance functions, organizations can reduce internal staff resources for data maintenance activities

 

7) Automate using technology – Investments in technology will significantly improve your overall ROI as well as improve a company’s procurement efficient utilization that can result in substantial savings.

More Supplier Data Content

good internal controls

Good Internal Controls – The Core of Supplier Onboarding

Good Internal Controls Both in the Accounts Payable and Procurements departments will usually result from good controls throughout the organization ...
Read More
Know you vendor

Know Your Vendor

Know Your Vendor overview and best practices Modern businesses face quite a few risks associated with an overwhelming number of ...
Read More
Supplier Evaluation Checklist

Supplier Evaluation Checklist – Take Control of Your Supply Chain

Supplier evaluation checklist strategies vary from company to company, but in all cases, can be a proactive way to expand ...
Read More
improving business collaboration

Ten Tips for Improving Business Collaboration

Ten tips for improving business collaboration. The power of improving business collaboration has proven itself to be an integral factor in ...
Read More
segregation of duties

Segregation of Duties

What is Segregation of Duties? Segregation of duties, in a nutshell, is a concept where a company places controls on ...
Read More
Loading...