I had not seen these stats before, but they are striking.
From a 2004 Gartner report entitled "CRM Demands Data Cleansing" (http://www.gartner.com/DisplayDocument?ref=g_search&id=463228) a survey of 600 major enterprises in Australia, the UK, and the US:
- 75% of respondents reported significant problems as a result of defective data
- More than 50% incurred extra costs due to the need for internal reconciliations
- 33% failed to bill or collect receivables
That last one is absolutely amazing to me. Fully 1/3 of the respondents had some billing or collections issue due to bad data!
The good news is, you're not alone. Everyone has problems managing their data. The bad news is, everyone has problems managing their data.
As organizations, we must do better than this. For the vast majority of associations, there is no excuse for failing to bill or collect receivables. When I've seen this happen (and I have, believe me) it's more likely due to bad process than bad data.
Take a look around your organization. Are you having these kinds of challenges? And if you are, what are you doing about it?