Suppliers move, merge, change ownership, name and location. All these unforeseen events impact the accuracy of your data, which can cause processing errors or, even worse, supply chain disruption.
A recent study by the world’s leading research and advisory company Gartner evaluated the annual cost of supplier data management to be around $500 per supplier, though the level of accuracy is still low.
Transparent’s Vendor master services consist of Vendor master data (VMD) cleansing and VMD enrichment.
Services at a glance
As part of our unique Vendor master services, we will identify inactive, incomplete and duplicate vendors, provide a report to enable you to make adjustments, and offer advice to further improve your vendor master data.
The end result for your business will be:
- Simplified processes
- Greater efficiency
- Cost reductions
- Increased compliance
- 360-degree visibility