Big data continues to draw attention as businesses search for ways to
improve efficiency and to create lean processes. Even if an organization
does not store terabytes of data, it should leverage information to
recognize trends, detect issues, and forecast financials. Kay LaBare,
Syncada's Chief Information Officer, spoke to this topic as a member of
an executive panel, "Advancing Your Organization through Data Driven
Decisions," during Evanta's CIO Summit in Minneapolis.
Syncada connects banks, buyers, and suppliers to facilitate global
trade. Because rich financial data is captured as part of Syncada's
automated invoice processing, buyers and suppliers can leverage
information more quickly and accurate than with manual processing.
Syncada's robust business intelligence services enable participants to
analyze trends to increase operational efficiency, especially in complex
spend categories, such as transportation. By using standardized reports,
data cubes, and ad hoc reporting, Syncada partcipants can better
negotiate contracts, easily share financial statistics, and monitor
"Every company can benefit from data, but it's essential to go beyond
merely storing information," states LaBare. "Companies need flexible
tools for data analysis, allowing them to stay agile in a constantly
To learn about the different areas where Syncada helps organizations use
data to make better business decisions, visit http://www.syncada.com/forbusinesses.aspx.
Syncada from Visa provides a business-to-business network for financial
institutions to enable clients to increase control over their financial
supply chains, regardless of language or currency. Financial
institutions use Syncada to deliver standardized invoice processing and
payment with integrated financing to their corporate and government
clients. Syncada processes invoices for hundreds of buyers and makes
payments to tens of thousands of suppliers in 47 countries. In 2012,
Syncada processed more than US$21 billion in payments and millions of
invoices and trade documents. Visit www.syncada.com
for more information.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130131006863/en/
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