Did you know that seemingly small errors can result in tens of millions in unreported revenue dollars each year? Of course, you do. It happens in business all the time. Then again, not all of these millions in unreported revenue can be attributed to error, as there are many dishonest business entities and private individuals who intentionally fail to report revenue to avoid taxes.
Of course, data management appears in many forms that range from revenue revenue recovery and land data management to data quality control and data cleansing services. Given the multitude of business functions that fall under the umbrella of “data management,” managing each and every aspect of that data is no small undertaking. In fact, managing all of their data competently is often too large of an endeavor for many businesses to handle in-house.
When businesses feel that it is more cost-effective to outsource to professional data management companies, they can rest assured that their data will be managed with the utmost accuracy. At the same time, they can use their in-house resources to focus on business functions that are related to production and customer service. In other words, they can spend more time making money, and let someone else worry about making sure that all the ducks are in a row.
According to Gartner, experts project that approximately $232 billion will be generated via data management in the United States during 2016. This is because businesses are realizing that the leading data management solutions can considerably reduce the possibility of errors that could lead to significant money losses. The bottom line is that businesses must protect their bottoms lines, and data management services can help them to do just that.