New approach using machine learning to overcome data integration obstacles delivers new insights and reduces costs
CAMBRIDGE, MA. – March 4, 2019 – Societe Generale, a leading European financial services institution, has taken an important step in its commitment to digital transformation by deploying Tamr’s enterprise data unification platform.
Complete and accurate data is an essential part of the foundation of any digital transformation initiative. But for large global companies that have been operating for decades, the problem of ‘data debt’ is acute. It is the byproduct of decades of business process automation that created myriad data silos which make it difficult to get a unified, complete, shared view of core entities like customers, products, suppliers, parts, and spending. To tackle this challenge, many enterprises that are committed to digital transformation are implementing new approaches and tools to reinvent how they manage data and extract value from it.
In late 2017, Societe Generale Group’s Sourcing Division selected Tamr’s patented data unification platform to support its digital transformation program. The initial application, which went into production in less than two months, has enabled the bank’s Group Sourcing Division to optimize spending visibility while reducing costs. The Division manages the “source-to-contract” process for 250 buyers in 22 countries who collectively engage more than 100,000 suppliers and oversee €6.5 billion of spending.
Since deploying Tamr’s solution, the Group Sourcing MIS team now integrates new data sources in less than a week. Only a few hours every week is needed to maintain high levels of accuracy and confidence in the results. The buyers now have easy access to cleansed, unified, and classified data that they can rely on to make the best sourcing and purchasing decisions for the bank.
Tamr’s human-guided machine learning approach to data integration has allowed Societe Generale to rapidly scale its analytic operations, reduce costs, and simplify its IT environment. A video case study describing how Societe Generale has used Tamr can be seen below:
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About Tamr, Inc.
Tamr is the enterprise-scale data unification company trusted by industry leaders like Toyota, Societe Generale, GE, Thomson Reuters, and GSK. The company’s patented software platform uses machine learning supplemented by human expertise to unify and prepare data across myriad silos to deliver previously unavailable business-changing insights. With a co-founding team led by Andy Palmer (founding CEO of Vertica) and Mike Stonebraker (Turing Award winner) and backed by investors including NEA and Google Ventures, Tamr is transforming how companies get value from their data.