TradeHub has Enrichment and Validation services that help provide the flexibility needed to meet most business challenges and help make more informed decisions.
Data enrichment is defined as merging 3rd party data from an external source with an existing database of 1st party customer data.
The Celtrino Enrichment Service within TradeHub allows you to take an electronic business document and either validate information within the business document or permit additional information to be included, that can be used to populate and enrich that business document. The Data Enrichment service removes the issue of unnecessary manual data correction and its re-entry. Automated business rules are set up to standardise the data to reduce typical invoice handling time and errors.
When business systems accept – for example – EDI files; up to 40% of the information that was sent within the EDI files is often discarded because the system doesn’t require it. However this makes getting information that you may need, quite challenging. By using TradeHub, users have managed to find insights they might not previously have considered possible, that subsequently informs decisions that the business can then make.
For example, one customer who was trying to improve his supplier’s service levels realised that they could analyse the response reason sent by their supplier through TradeHub. However, their own system had not been able to capture it. Using TradeHub, the customer was able to identify that 40% of fulfillment failures were attributed to an “unknown product code” response, and by simply updating the product codes, service levels subsequently improved substantially.