Hear Jason Howard and Duncan Coyle discuss the importance of complete and accurate Master Data in your business. Data is the driving force in helping a business be more efficient and save costs when it is correct. Getting it right with quality data will help optimise your finance and procure-to-pay processes.
When was the last time you reviewed master data?
How Master Data Drives the Source to Settle Processes
Businesses need good quality data because it means processes and business decisions are more reliable, accurate and complete.
The benefits of accurate master data for automating invoice processing are numerous – not least that you can rely on it being fit for purpose.
Little and often - Don't ignore or allow your data to get out of date, and ensure you undertake regular updates
If you see a supplier address is wrong, make the purchasing or supply chain team aware and get them to update the details
If a person leaves. as part of the off-boarding process ensure their outstanding PO's are updated with a new contactEnsure there is a policy and process in place for creating, updating and expiring master data.
Jason brings more than 20 years of sales and leadership experience to Arcivate, having been immersed in the document management and automated invoice processing arena. Jason is instrumental in driving the go-to-market strategy and commercial direction for Arcivate automated invoice processing solutions.
His detailed knowledge of client requirements and maximising automation through intuitive user interfaces assisted with the development of Mi Invoices Automated invoice processing software supplied within a SaaS model in the Cloud.
Duncan has been at Arcivate for over 10 years and has worked on many of our key automated invoice processing software projects. Developing his skills to become an effective business analyst and functional consultant for the P2P processes of Oracle ERP applications, including ERP Cloud and E-Business Suite.
He has also used the skills of investigation and research to better understand the details of the embedded processes of procurement and accounts payable, which has allowed him to assist our clients to enhance their invoice processing.
Using this knowledge and approach has enabled him to lead the development and support teams to ensure the customer business requirements are fully implemented and delivered effectively.