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Data quality best practice urged in procurement and finance sector
Jul 23 2009, 17:39 PM
A recent survey of UK procurement and finance professionals has highlighted the important role of data quality in analysing the success of a company's spending policy.
Over half cited sub-standard data quality as the reason they were unsure they were making wise financial decisions.
In addition, some 34% of respondents to the study said data quality was the biggest impediment to their ability to gain a complete picture of their returns on investment.
Deborah Wilson, Research Director of Procurement Strategies & Systems at Gartner, commented: "Spend analysis is a diagnostic tool that lays the foundation for savings by enabling procurement to identify where its efforts will be most effective, both in terms of technology investment and supplier rationalisation.
"Conducting de-duplication and classification by category, on a manual basis, is an overwhelming project that does not yield timely information or adequate data quality."
Gartner announced today (July 23rd) that a recent study reveals consumers prefer online banking that is personalised.
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