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The High Cost of Bad Data for Procurement and Finance

By  Rosslyn Data Technologies   on  10 Jul 2020


According to The Data Warehousing Institute (TDWI), in the US alone, bad, dirty, inaccurate or missing data is estimated to cost companies over $600 billion a year.

Without a clear data management strategy and a deep appreciation for data governance, no company can avoid the repercussions of bad data. Left unaddressed, the impact will only increase as it propagates across systems, data quality continues to deteriorate, and the cost of complex data cleansing spirals out of control.

At a time when data volumes are experiencing exponential growth and show no signs of abating, it comes as no surprise that astute organisations are turning their attention to data management and analytics as a means to not only reduce the cost of bad data; but also to mitigate the risks and impact to their bottom line.

In this guide, we will discuss the business impact of bad data and how procurement and supply chain professionals can address this to improve bottom line performance.

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