Legal Services

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Why the Emphasis on Data Quality?

Despite the global pandemic, global M&A deals reached a total value of $2.8 trillion in 2020, just down by 6% as compared to 2019 (source: globaldata.com). The total number of deals in 2020 reached 32,285 with most activity in the second half of the year. The M&A market recovered strongly in Q3 and Q4 2020.

However, according to Forbes Technology Council, up to 90% of mergers fail to meet their goals. While there are many factors related to this failure, the lack of data quality, and a failure to address data quality early in the process, is cited as the most common reason for migration failure.


Partnership Model

We partner with legal firms and consultancies to support their own data transformation needs, as well as those of clients. From management buyouts to mergers and acquisitions, restructuring and other changes to the legal framework and status of an organization, whenever there is a material change to a business, inevitable multiple data sets are involved.

 

A Massive Data Quality Gap

Since the legal sector was deregulated, many firms have evolved their ways of working - yet fundamentally they remain professional services firms - few if any have technical resources to support large scale migration projects. and yet without assuring data quality through any business transformation, value is simply lost.

The modernization of the legal sector opens many new opportunities for firms to augment the services they offer, with technical expertise needed to allow their clients to derive the maximum value from any transformation project.

 

Legal Services Inner Text Image - IDS | Leaders in data certainty

iData From Intelligent Delivery Solutions

Our flagship software has been used by government, institutes and multinational companies like the Ministry of Justice, NHS, Bank of England and Capita to resolve data quality issues.

We've helped dozens of companies meet business goals with data profiling, data matching and data deduplication using our iData toolkit and end-to-end Kovenant TM methodology.

 

Mergers & Acquisitions

Mergers & Acquisitions, (M&As), create a perfect data quality storm. In any joining of multiple businesses, inevitably there will be different systems, processes and data stores - from CRM systems or ERP, to finance, procurement, manufacturing, logistics, marketing and HR, for example.

One of the fundamental requirements of any merger or acquisition, is to ensure that team members are working from the same set of data. If a customer or supplier record sits on two frameworks for example, there is a risk of duplication, miscommunication and error.

Business decision-making is also compromised by the lack of a single point of data truth. Both strategic and tactical decision-making within any large business, is dependent on each key stakeholder having access to accurate, timely information. Imagine a large online retailer that had 20% duplicate customer records; a logistics or construction business with supply chain financing in place, but with multiple contractor records, resulting in duplicate payments.



"Duplicate payments can cost companies between 0.5% and 0.1% of annual invoice payments.

This translates into 1 million USD/£ in duplicate payments in a company with 1 billion USD/£ in payables.

Source: Gartner

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Accelerated Access to Complete Company Data

Accelerating the data migration and assurance process saves businesses years of costs related to damaged relationships, miscommunication, and duplication - not to mention the opportunity cost that comes from not having a single view of customers, or being able to respond quickly to change in regulation, markets and demand.

 

 

FEATURED CONTENT | 2MIN READ

Supplying a consistent cleaning and transformation solution for a recent merger

IDS' Data Certainty Solution

IDS has been helping companies improve data quality and implement thorough testing procedures since 2015.
IDS’s iData solution offers the single fastest way to prepare, clean and transform acquisition data into your centralised data store following a company merger or acquisition.

Our robust, proven, purpose-built M&A data migration and assurance process takes care of your data at each step in the journey, ready for use in your organization’s internal and bespoke systems.