Research by IBM has estimated that bad data costs the U.S. economy around $3.1 trillion dollars each year. Additional research from Experian also found that bad data has a direct impact on the bottom line of 88% of US companies, with the average company losing around 12% of its total revenue. Yet businesses still tend to overlook the importance of data quality. The result? Poor data becomes a bottleneck that prevents successful deals taking place and organizations become overwhelmed with disparate data sources.
As experts in rebate management, we know the importance of up-to-date data to achieve accurate calculations of rebate revenue and make data-driven decisions. Before our customers can start gaining real value from Enable, they need to take the steps to migrate their data from various sources, integrate it all into one large repository and harmonize it into a common format. Otherwise, we can’t calculate their rebates for them.
Migrating and integrating data can seem intimidating if you haven't done it before or don’t have the technical capabilities, therefore having the right tools and extra support can make all the difference. When we onboard a new customer, we often find they have multiple data sources which are unstructured and in different formats, which means the customer has the burden of straightening their data out. This can take up a lot of time and manpower you may not have.
With this in mind, we have designed a new product SKU to make our customers lives easier and speed up the data integration process when onboarding Enable.
We’ll start the data integration process by profiling your data to understand the scope and current state of your data, create a plan, and review it with you. You can then extract and provide us with your primary data (product lists, locations, suppliers/customers) and transactional data (sales/purchases) in its native format from your source system. We then cleanse your data so you can be sure there are no issues, and your data is completely trustworthy. Next we take the appropriate actions to convert all that data into the format that we need and migrate it into Enable so you can get up and running with Enable fast. As time goes by, we continue to monitor and maintain this process on an ongoing basis to make sure the integration keeps running smoothly.
With over 40% of businesses failing to achieve their objectives due to missing, incomplete or inaccurate data, data quality is clearly a widespread problem and business leaders now have a responsibility to their stakeholders and employees to put data integration at the top of their to-do list.
Want to find out how we can speed up your data integration and cleansing? Contact our data experts via firstname.lastname@example.org