How can Master Data Management improve the quality of your End to End process?

In a world where the main focus lies on efficiency and automation we need to ensure our focus is really there where we can really add value to the end to end P2P process. To achieve the efficient way of working you should strive for first-time-right at all times.
It’s my personal goal to spread the importance of Master data Management to all P2P professionals as it for sure is the most important part of the success/failure of the end to end process. That is the main reason that I talk about M2P rather than P2P. To ensure you really manage your End to End process you have to be in full control from the start onwards. This means that you have to oversee the whole process, knowing exactly your output to know what the best input should be. Being more specific, start acting once your
invoice comes in is too late as booking and paying your invoice will never succeed first-time-right if you didn’t setup all you master data in the right way. It is essential understanding and really knowing what’s in the scope of MDM and setup those correctly.

How will journey from P2P to S2P to M2P look like and could you please give us some tips and tricks?

The journey is all about setting the right focus for all stakeholders and having the right plan in place. By reporting step by step in all relevant and important P2P KPIs, (such as quantity of incoming/processed invoices, late payments, PO coverage, need-by date, on-time receipting etc.) you can slowly manage a change in looking at the process. Focussing on avoiding rework, first-time-right and always strive for 100% quality turned out to be the best approach. Once you have a clear overview of all the ‘pain points’ in the end to end process you can start working on the improvements.
In my opinion the most important part is the creation of mutual understanding of all master data definitions. Master data is not just your items and suppliers but definitely also your PO structure (2-way or 3-way matching), your Non PO policy, charge of accounts, approval hierarchy etc.

Could you please explain how Liberty Global will further improve Data Quality?

This will be ensured by building up even better reporting on agreed KPIs as well as secure all agreed Data Quality in frequent (sox) controls. As mentioned, I do see the 2-way/3-way matching as well as the Non PO policy as an important part of simplifying the process, without losing any quality or governance. But to ensure the right quality, as mutual agreed and documented, you need to have strong frequent quality controls in place.

What would you like to achieve by attending the 11th Edition P2P and Robotic Process Automation Strategy conference?

I’d like to share my experiences and receive feedback of experiences of colleagues. It’s such a waste of time to reinvent improvements where others have done it proven successfully. Based on my experiences by attending P2P events such as this one it always brings new energy and inspiration to move forward.