April 2008: Datactics On A Mission
With an aim to expand its network of international partners and customer base, Datactics is part of a delegation of local NI companies on a Trade Mission to Boston and New York (30 March – 5 April 08).
As providers of data quality technology that optimizes inventory, increases purchasing leverage and reduces operational costs, Datactics’ applications are critical to US manufacturers and supply chain organizations operating in a less buoyant economy.
Norbert Ore, chairman of the Institute for Supply Management's manufacturing business survey committee, cited weakness in orders and the backlog of orders and added: "Additionally, manufacturers continue to experience heavy cost pressures as the prices they pay are still rising, even with slower overall demand." (Examiner.com, 1 April 08)
For these organizations, backlog of orders can be reduced and vendor pricing can be kept to a minimum by having access to a trusted single view of data relating to products, items or materials, enterprise-wide. Viewing accurate, consistent and consolidated data in a standardized format enables users to identify ‘Best Fit’ suppliers ensuring the highest quality of products and service at the best prices. This reduces stock-outs, shortens product lead times and ultimately reduces cost and order to cash cycle.
To keep price rises to a minimum, Datactics helps increase purchasing leverage by accurately analyzing direct material spend across business units. Achieving an accurate and standardized format of global spend data for analysis is a major challenge. Business units support various data and structures, while users across international business units handle product data in multiple languages and metrics. However, Datactics’ applications can quickly and with ease parse, cleanse, match and consolidate large volumes of international data across multiple computing sources. Now with the aid of Datactics, companies can view and control global spend effectively.
Alex Barnett, Datactics' representative in the Trade Mission comments "It is widely recognized that 50% of items in company systems are incorrect. But what is more startling is that data continues to degrade at the rate of 10% per year. For many companies these inaccuracies and inconsistencies translate into poor decision making, high inventory costs, increased stock outs and a higher number of customer returns. With a slowdown in the economy, no organization can afford such huge financial losses. Good data is good for business and good for the customer.”
About Datactics
Datactics data quality solutions equip the business user to build a unified, enhanced and accurate view of product, supplier, customer and financial data. Use of Datactics reduces manual data cleansing time and costs, creating faster time to market, driving revenue as well as reducing risk and costs. The company specializes in industries such as distribution, retail and manufacturing.
Datactics has over 10 years experience in the data quality industry. The company has gained industry recognition as a visionary within the Gartner Magic Quadrant for Data Quality Tools since 2007. Datactics has been recognized by Bloor Research and also by Information Difference in its Data Quality Landscape Report. Datactics has a strong portfolio of Fortune 500 customers and other leading organizations, and a worldwide partner network.
