What is Dark Data and How Does It Affect Your Accounts Payable?
What is Dark Data?
Dark data is data that is not part of your accounts payable or purchasing systems. We consider data to be dark when the source files are not utilized fully (or at all) to maximize opportunity and minimize risk.
What are some examples of Dark Data?
- ERP data from multiple sources including legacy acquisitions or system conversions.
- Governmental Sources like state’s Unclaimed Property databases and WatchList exclusions like OFAC, the Treasury Department’s Office of Foreign Asset Controls.
- Bank Sources like uncashed check registers and data on potential companies that are good candidates for credit card programs.
- Contract data such as pricing files and rate schedules.
- Associated Invoice data – line item billing from internal or 3rd party systems.
How do you identify Dark Data?
Uncovering and revealing sources of leakage can be done through review and audits of the potential sources outlined above. Learn more about how our team identifies and reconciles dark data by watching the full video.
Questions? Fill out the form below to get in touch with an AP Recovery expert.
Get it touch with an AP Recovery Expert.