Without a well-structured category hierarchy, usable data, visibility, and insight into the existing spend with suppliers across categories, how can an organization make informed decisions on category management, optimize sourcing strategies, leverage spend power and manage suppliers?
The answer to the question is simple - they can't.
The good news is that Nitor has enabled many global and national organizations to address issues in spend analytics and deliver effective spend management practices. This groundwork paves the way for building and maintaining a best-in-class Procurement organization.
Poorly managed master data can create unnecessary risk and put significant savings out of reach. Bad data in disparate systems in several purchasing departments affects business operations and requires high manual effort to even make it partially usable.