Supplier Master Data Impacts BusinessMay 17, 2021
Naming Conventions Help Eliminate Supplier Master Data Confusion
Oracle master data – and especially supplier companies – is unequivocally important today. Around the globe, this is true regarding data migration, mergers, and compliance.
With the onset of COVID-19, a shift has occurred in how 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 has become even more pivotal. According to Forbes, “…as buyers, sellers, providers of M&A financing, and all of their respective legal and financial advisors adjust to the changing environment.”
Thus, businesses cannot afford to leave their master data to chance, especially integral supplier information.
Migrating Supplier Master Data into Oracle EBS
Migrating your supplier names 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 can accidentally input an identical supplier using two different names.
Consider this scenario, you might enter our business as ‘More4apps’ and ‘More4apps Inc.,’ or you might enter a contractor under his/her name and his/her company name. You could inadvertently create duplicate suppliers if you import suppliers from other Accounts Payable systems. The myriad of possibilities is daunting.
Experian’s Supplier Name Story
Experian, a global information powerhouse, is one example of how our tools make data processes uncomplicated. Every day they were faced with a mountain of supplier information updates. As a result, they delt with incorrect or out-of-date information. This misinformation spread throughout their company.
The management team knew the existing system was not delivering as it should. While the company wanted to migrate to Oracle EBS to develop a true ERP across the business, they didn’t want to transfer erroneous information, such as incorrect supplier names.
That’s where our simple Excel-based solution came into play. We enabled Experian to clean their data in an easy-to-use spreadsheet as they migrated it and our technology.
Our solutions helped Experian address errors while simultaneously validating its data before it entered its new ERP ecosystem. The migration process ensured that the “apples” in its existing system matched the “apples” in its new system. This way, supplier master data 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.
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