Before Procurement Spend Analysis: The Importance of Data Cleansing and Enrichment
Spend Management Before diving into procurement spend analysis , organisations must first ensure their data is accurate, complete, and structured. Raw procurement data often contains inconsistencies, missing details, and duplicates, making it difficult to extract meaningful spend data insights. Without proper data cleansing and enrichment, spend analytics results may be unreliable, leading to inaccurate conclusions and poor decision-making. Data cleansing involves identifying and correcting errors, removing duplicates, and standardising information to create a reliable dataset. This process enhances procurement spend data analysis in Australia and beyond, ensuring organisations gain a clearer view of their financial outflows. Meanwhile, data enrichment adds missing details by integrating external data sources or refining supplier records, helping to improve spend visibility across categories and suppliers. For spend analytics for manufacturing companies , precise data is essential in...