Verdantis Harmonize for Vendor Master Data Management

Automated Vendor Master Data Harmonization
Verdantis Harmonize is a fully automated solution for cleansing and normalizing historical vendor master data. It combines AI–based, software driven automation, domain expertise and proven methodology to ensure the success of ambitious vendor master projects. These initiatives usually involve millions of items in multiple languages.

Verdantis Harmonize is the best-in-its-class, proven solution that can be customized to cater to specific requirements of Global 2000 companies. It deals with critical vendor master data projects that pose challenges like:

  • High volumes of data and multiple languages
  • Incomplete data (original vendor name, address, parent-child hierarchy, etc)
  • Duplication (rationalization of vendor base by cutting down on multiple suppliers)
  • Payment & taxation related concerns
  • Lack of information (source of certifications, W9 forms, insurance certificates, etc.)

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Verdantis Harmonize has become the preferred choice for various vendor MDM projects with its proven track record in addressing the above mentioned issues. Besides these, Verdantis Harmonize has the ability to:

  • Ensure high quality, information rich vendor master data available for uploading into the ERP system
  • Slash data consolidation project timelines by 50% or more compared to manual, services-based approaches
  • Provide unmatched scalability and as a result lower the total cost of project delivery

A normalized and enriched vendor master data is critical in rationalizing the vendor base, enhancing visibility, monitoring performance, analyzing capabilities of existing vendor base, ensuring total compliance, and providing single view of vendor master to all departments. However, large vendor master data consolidation projects can be very challenging if traditional or generic MDM applications are used.

Very often enterprises end up with higher project costs and sub-optimal quality of data in instances involving internal teams or service-based vendors, who cannot handle large volumes of data. Moreover, generic MDM applications lack powerful data harmonization capabilities and vendor domain expertise.

Key Features

  • Granular classification of vendors
  • Name and address normalization
  • Normalized and validated address ensures standardized information
  • Data enrichment with D&B

Key Benefits

  • Rationalization of vendor base by cutting down on multiple suppliers
  • Prevent accounting errors/frauds
  • Improved visibility to monitor supplier performance
  • Higher ROI from ERP consolidations

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