Business Challenge
- Outdated Information – Spend Data was being refreshed 45 days past the Quarter close, reducing the value of the reports in strategic decision making and analysis
- Level of Detail – Users were unable to ‘Drill-down’ into a more granular level of detail, only able to see Vendor level detail at a high level summary
- Data Quality – Inconsistent naming conventions led to duplicate vendors in source systems and prevented users from viewing holistic spend with vendors
Solution
- Automated Nightly Data Refresh – Created an automated workflow of data integrations requiring no human interaction
- Granular Level of Detail – Enabled users to drill down to the invoice line item level of detail allowing for more detailed spend analysis
- Complete Reporting Solution – Enabled Executive and Day-to-Day users to view appropriate levels of detail via Executive level dashboards with guided navigation to detailed reports
- Data Mastering – Incorporation of Vendor data mastering allowed for detailed reporting on Vendors and as well as detailed diversity reporting in support of compliance and regulatory reporting
Impact
- Real Time Information (130 Days Saved) – Up-to-date information sourced on a nightly basis created major time-saving benefits, improved data quality, and enabled almost real time analysis
- Enhanced Insight – Improved visibility into customer and vendor invoice details across all lines of business enabled improvements in strategic decision making
- Increased Agility – New reporting platform and capabilities allowed for new enterprise reports and ad-hoc analysis to be conducted with ease
