Business Costs of Incomplete Address Master Data
Posted on: September 11, 2012 | By: SuperUser Account | QAD Financials
Master Data management has become an increasingly problematic business process. Human resource turnover, lack of central master data management and lack of training contributes to the creation of incomplete master data.
The result of poor master data and maintenance in the address master can result in the failed delivery of product to your customer. This waste resource time, energy and transportation costs when product cannot be delivered. For transaction tax government compliance (particularly in the United States), incomplete address data on your customers will result in the in-correct tax calculation for your orders. This exposes your business to un-identified liabilities, an extended sales tax audit and potential tax penalties.
To solve the address problem, you will need to cleanse your address database. There are a number of available services. Your business provides a list of address to the service company. The company will return the data with validated postal addresses including county data. Finally, your business needs to sustain the address data as new records are added. Real-Time address validation can be configured with your QAD database to insure all new addresses entered are valid US postal addresses. Investment in these services can range from $500 to $5000 depending on the size of your address database. Keep your data clean and accurate.
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