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Organizations that have a high reliance on information to successfully run their business should have an awareness of the ways that flawed data can increase costs. When times are tough and the boss is looking to reduce expenses, or when times are good and management is seeking greater margins and increased profits, having a process to establish quality data will reveal opportunities where relatively low investments can lead to relatively high returns. This paper will review aspects of cost reduction by examining some typical financial accounting expense categories. The paper then selects some specific examples and assesses their reliance on high-quality data.
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