DataFlux Provides Improved Management of Spend and Procurement Data with New Offering

Release date: 3/11/2009

DataFlux Accelerator for Materials Data Classification allows users to assign a standard product code to items, materials and services

CARY, N.C. (March 11, 2009) — DataFlux, a leading provider of data quality and data integration solutions, today announced the general availability of the DataFlux® Accelerator for Materials Data Classification. This data quality-based spend management solution enables consistent supplier analysis and performance by adding a unique product code to items, parts and services.

Without the ability to classify data, an organization cannot effectively analyze purchasing data beyond the individual record level. The Accelerator for Materials Data Classification offers a faster way to enhance product and item data by appending classification codes, providing a standardized way to organize and segment information on spending patterns. Multiple taxonomies can be used, including industry-standard codes such as eCl@ss and UNSPSC, as well as classifications developed internally.

With this technology, customers are better able to:

• Determine which suppliers can offer the most value, based on defined and measured performance metrics
• Reduce delivery cycle times for goods and services
• Provide suppliers with up-to-date performance information, enabling proactive action
• Identify and monitor savings opportunities
• Eliminate redundant or unnecessary spend
• Leverage spend for volume discounts
• Reduce the high cost of poor data quality

“The Accelerator for Materials Data Classification gives organizations the capability to internally classify data based on award-winning data quality technology,” said Tony Fisher, president and CEO of DataFlux. “It’s a flexible solution that provides trusted results, which can help companies maximize spending power, reduce costs and improve efficiency while increasing the overall corporate visibility of data.”

Spend management is an important part of business operations. It helps organizations control costs and improve operational efficiency through improved purchasing and procurement functions. Properly managed data can also help mitigate risk by rationalizing vendors and staying compliant to regulatory guidelines.