Data — Now More Critical Than Ever

In today’s digital economy, data isn’t just valuable — it’s vital. Once seen as the “new gold” and later the “new oil,” data has now become the oxygen of business: essential, omnipresent, and necessary for survival. Nowhere is this more evident than in procurement and purchasing decisions.

 Having immediate access to purchase-relevant data isn’t just a competitive advantage anymore; it’s the foundation for operational excellence, customer satisfaction, and profitability. Without it, businesses risk costly delays, errors, and even customer attrition.

 As Patrick Engel, Manager Customer Integration & Pricing at SKF, emphasizes:

“Before using TecCom Managed Data, our biggest challenge was keeping all relevant data up-to-date and accessible in one place. The TecCom solution solved this by reducing manual work and costs while ensuring accurate stock and product data. Ultimately, this helps us boost customer satisfaction.”  Read full success story.

 In a business world that values speed, efficiency, and customer-centricity, having purchase-relevant data on pricing, article specifications and availability at your fingertips is no longer optional — it’s essential.

The Hidden Costs of Poor Data Access

Sourcing the right data, at the right time, remains a complex and often manual challenge. McKinsey reports, that interaction workers (those who spend 65% of a workday collaborating and communicating with others) spend nearly one fifth of their working hours tracking down information needed to complete their tasks. That’s nearly a full day every week lost to searching rather than selling, serving, or solving.

19% share of time interaction workers spend on searching information
 
Gartner shows that poor data quality carries a massive financial burden, with organizations losing an average of 12.9 million US$ annually due to inefficiencies. In an era of labour shortages and growing client expectations, such losses aren’t just unfortunate — they’re unsustainable. And especially in a sector like the Automotive Aftermarket, where workshop clients expect immediate answers about stock availability, pricing and product specifics, delays are simply not acceptable. Every second spent searching causes unnecessary delays, frustration, and lost sales.

Consequences of poor data accessibility:

• Longer delivery times and lost sales.
• Decreased employee morale.
• Damage to brand reputation.
• Increased operational costs.

  Leading Companies Prioritize Smart Data Access

High-performing organizations recognize that easy and reliable access to procurement data is a business imperative. They systematically optimize four key areas:

• Digitization and Automation:
  Modern businesses drive digitization to replace manual processes, standardizing data formats for greater consistency and reliability. This dramatically reduces error rates, administrative costs, and decision-making time.
• Real-Time Communication:
  Today’s customers expect instant answers. Providing accurate, real-time information enhances trust, speeds up the purchasing process, and strengthens brand loyalty.
• Error Reduction and Prevention:
  Accurate data ensures better inventory control, smoother logistics, and fewer customer complaints. It eliminates the chaos of missing parts, outdated prices, or wrong product deliveries.
• Reach and Collaboration:
  Common trading platforms allow businesses to react instantly to market changes, release new products swiftly, and maintain a service edge over competitors.

As Morten Hallum, Director Logistics & IT at Triscan, notes:

“It is very important for us to lead by example and support the Automotive Aftermarket with product information that is as perfect as possible. Alongside data quality, process optimisation is the second major topic to optimally position ourselves in the market.”

Breathing New Life Into Your Operations

Recognizing these urgent needs, TecAlliance developed TecCom Managed Data (previously called TecCom CMD) — a comprehensive, cloud-based data management solution that transforms how suppliers and buyers collaborate.

 Here’s how TecCom Managed Data takes the pain out of data distribution and access:

• Standardized Product Data
  → Streamlines processes, reduces misunderstandings, and builds client trust.
• Easy Data Distribution and Access
  → Reduces manual tasks, errors, and customer service inquiries.
• Seamless Customization
  → Tailors information according to customer-specific formats and schedules.
• Faster Time-to-Market
  → Helps launch new products instantly across all channels.
• Cloud-Powered Automation
  → Updates across systems with a single click, minimizing IT complexity and costs.

The TecCom Business Cloud provides the foundation for fast, simple, and scalable data sharing. With just a single upload, your product data instantly updates across multiple platforms and partners, without burdensome IT costs.

In short: TecAlliance makes sure the right data is always exactly where it needs to be — without the stress, time loss, or manual effort. Data becomes a silent, reliable engine driving sales, service excellence, and operational efficiency.

Actionable Learnings: 5 Data Fixes

To stay competitive, businesses should take the following actions immediately:

1. Audit Your Current Data Access Processes
   Evaluate where data bottlenecks occur, how much time is spent gathering information, and where errors originate.
2. Invest in Standardization
   Adopt industry standards for data formats to ensure interoperability and reliability across departments and partners
3. Prioritize Real-Time Data Sharing
   Set goals to reduce the time between data updates and customer access. Real-time isn’t a luxury anymore — it’s a customer expectation.
4. Choose a Cloud-Based Solution
   Cloud-based platforms offer unmatched scalability, reliability, and simplicity for managing procurement data.
5. Empower Teams with Automation
   Free your skilled employees from tedious administrative tasks and let them focus on activities that drive revenue and enhance customer relationships.

Click here to learn more about TecCom Managed Data.