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Companies with comparatively small address databases often find themselves unable to meet compliance requirements. However, these checks are required by law and are often demanded by business partners. On the one hand, it is necessary to regularly compare debtors and creditors against the so-called terror and sanctions lists. On the other hand, the companies listed in the Money Laundering Act are obliged to identify politically exposed persons.

To meet customers’ need for versatile touchpoints, companies today need to be accessible to their customers on as many channels as possible. Today’s customers are mobile and flexible, get more and more information and expect a high quality of service.

Customer data can be gold mines, but also Bermuda triangles in terms of working time. Would you have thought that even in a medium-sized company, the maintenance of company addresses consumes several hundred hours of working time per year?

BI-Spektrum spoke with Jörg Vogler, CEO of TOLERANT Software, about how data can be collected and maintained qualitatively so that it can be used well for analytics and artificial intelligence, as well as about what some US companies have ahead of the local ones.

The migration of on-prem data to the cloud offers the opportunity to systematically cleanse and reprocess data and, if necessary, enrich it with external data. Therefore, it is important to plan the data migration at an early stage and to execute it properly. This way, legacy data can be sorted out in a targeted manner and all important data can be completely merged.

Data quality products from TOLERANT Software tap the full potential of CRM systems, making AI and business intelligence applications possible in the first place.