Supplier Master Data & How It's Input Impacts Your Business

What's In A Name?

Supplier Master Data Impacts Business

John O'Keeffe
John O'Keeffe

CEO

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What's In a Name? The Way You Input Supplier Names Plays a Big Part in Business

Oracle Master data – and especially names such as supplier companies –  is unequivocally important today. Around the world this is especially true when it comes to data migration, mergers, and compliance. With the onset of Covid-19, a shift has occurred in the manner in which Mergers and Acquisitions (M&A) transactions are carried out. As a result, supplier master data is affected. 

An increasing amount of key decision makers are working remotely. Because of this, the effective use of new and old collaborative tools and technologies have become even more pivotal “as buyers, sellers, providers of M&A financing, and all of their respective legal and financial advisors adjust to the changed environment.”  Which means now more than ever, businesses cannot afford to leave their master data to chance, especially integral supplier information. 

Getting Supplier Data Into Oracle EBS

However, migrating your supplier names over to a new system could be difficult if you’re using Oracle EBS. Although the Oracle system will not allow you to enter duplicate supplier names, you may accidentally input an identical supplier using two different names.

Consider this scenario… you might enter More4apps as ‘More4apps’ and also as ‘More4apps Inc,’ or you might enter a contractor under his name and his company name. You might also inadvertently create duplicate suppliers if you import suppliers from another accounts payable system. The myriad of possibilities is daunting.

Experian's Supplier Name Story

Experian’s story is a perfect example. Every day they were faced with a mountain of supplier information updates and as a result were living with repercussions of incorrect or out-of-date information. This “misinformation” spread throughout their organization unfortunately… 

The management team knew their existing system wasn’t delivering as it should – a single source of truth. And while, they wanted to migrate to Oracle EBS to develop a true ERP across their organization, they did not want to bring across erroneous information such as incorrect supplier names.

That’s where More4apps offered a simple Excel-based solution. We enabled Experian to clean their data in an easy-to-use spreadsheet as they migrated it and our technology picked up errors while simultaneously validating their data before it even entered their new ERP ecosystem. 

Simply put, this whole process ensured that the “apples” in their existing system matched the “apples” in their new system and so on and so forth. This way, supplier information was correct from day one of rolling out the new system!

“Our implementations with More4apps made the data migration cycle more effective. It was no longer required to cleanse and enrich at the source; the activity was moved into the More4apps spreadsheet. Excel is more flexible and users don’t need special training on how to use it. The More4apps spreadsheet became the de facto master data source for testing and transition activities. This helped in reducing the time and making the process significantly easier for users and management.” – Gabriel Stern, Experian

*Quick Tip: To avoid issues stemming from supplier master data mayhem (such as entering duplicate suppliers) consider developing and using standard naming conventions for suppliers while restricting who can enter new suppliers.

Already have issues and are looking for a quick yet effective solution? Our Oracle Supplier Wizard can help.  Read more here.

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