How clean is your data? We'll bet you it's not!
Today’s blog is by Margaret Stewart, Director of HR and Administration at SafeSourcing Inc.
With all organizations, there are expenses and costs. Good bookkeeping is important because it allows one to easily look up where money is spent and where it comes from. This is especially important when considering your next procurement project. Having up to date, complete, and easily understood data, or clean data, is essential to understanding where improvements can be made.
For example, if your company has a monthly service for cleaning and you aren’t sure how long you’ve worked with this associate, how much you pay, or how frequently you pay, then you may want to scrub that data and make it more easily accessed and read. This can allow for insight into whether you are paying too much or if it’s a great deal you want to continue. This kind of spend transparency can help you estimate expenses and also give direction into where you may want to explore your options.
A procurement partner, like SafeSourcing can assist with your sourcing needs and even more. We can analyze your spend details, categorize which areas you are spending, and help to access which areas you may want to reevaluate. We can help with not only cleaning up your data, but also run the numbers to see if you are likely overpaying somewhere. Even more, SafeSourcing can help you find suppliers that can fit your needs and save you money.
If you are not sure how clean your data is or if you think you might not be getting the best good or service for your money, reach out to a procurement partner, like SafeSourcing, and see what all we can help your team do.
For more information on what the SafeSourcing team can offer you, or on our Risk Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.