Increasing Data Quality

Accuracy in the exchange of business documents is always important. The traditional paper document exchange requires information transfer through transcription or data entry and any such information transfer will introduce errors into the process.

Increases in speed are often difficult to attain because of the need to avoid transcription errors. As speed increases, so does the likelihood of introducing errors into the process. Advantages gained by the removal of paper documents can be easily offset by the high cost of error correction.

There have been billions of pounds invested worldwide in the automation of internal business processes, with ERP and Supply Chain Planning (SCP) and Supply Chain Execution (SCE). These powerful business applications make complex planning and allocation estimate based on data inputs from your and your external business partners. The sad fact is that the quality of data in these system is nothing short of terrible. Recent studies suggest that executives have approximately 30% confidence in data quality from internal sources. When asked about external data quality the confidence factor drops to below 10%. So by improving data quality companies can drive enormous returns in their software and application investment. Imagine if overnight you could guarantee an improvement in data quality – increasing the forecast accuracy, improving inventory allocation and optimising payments.

Increasing the quality of supply chain data realises:

  • Reduced overhead required either to detect or to reprocess erroneous documents
  • Reduced costs to expedite goods or services that are late or lost
  • Increased customer service through faster replenishment, improved responsiveness and increased sales