How is it possible that a company ...

• Announces a stock price of $80 a share in January 2001
• Records $536 million in profits for the first quarter of 2001

and yet finds itself having to restate its financial data, resulting in:

• A reported loss loss of $618 million for third-quarter
• Filing for bankruptcy protection less than a year later
• And dealing with an enormous public relations problem of explaining why its corporate data was wrong and restoring public trust!

• Did data providers understand customer (i.e. investor) needs? 
• Was accurate, complete and timely data available for buy/sell decisions?
• Did auditors review processes or merely apply first-generation (end of process) techniques by looking only at results?
• Were root cause analyses performed as problems surfaced?

• Stockholders, bewildered by misinformation, watched as the stock price fell from $80 a share in January 2001 to $60 in April to $40 in September, before the final collapse in November.
• Employees, left to manage their 401(k) retirement plans with inaccurate and incomplete information, many of whom lost their life savings.
• Creditors who are left holding millions in receivables for a company that looked good on paper.

We follow a rigorous approach, utilizing Second-Generation Data Quality Systems ™ techniques to help you eliminate problems at the source (rather than at the end of the line.).We certify the critically important processes that produce information.  Navesink consultants bring a unique view to the situation.  We are experts in data -- how data change as they move through across organizational boundaries, how they get fouled up and how they can better serve key constituents.A "short list" of data quality solutions Navesink could offer, include:For Business Leaders: Strategic Data Management, ensuring that high quality data is available for decision making in planning and operations.For Board Members: Data Supplier Management, to ensure that data created within the organization or purchased from outside are of high quality to meet the needs of investors and employees.Accounting Professionals: Assessment and Certification of data in the areas of data accuracy, timeliness, consistency, etc. Click here to find out what Navesink can do for your organization.