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By Michael Babineau, cofounder and CEO, Turnstile Most startups run deals on documents, spreadsheets, email, and whatever payment tools are easiest to set up. This works until terms deviate from standard templates. Then quotes don't match contracts, invoices go out wrong or late, and revenue reports start showing discrepancies. The cost shows up in rework, write-offs, and time spent reconciling what should be automated. The breaking points are predictable.
One of the lesser understood aspects of what you can do with massive stockpiles of data is the ability to use data that would traditionally have been overlooked or in some cases even considered rubbish. This whole new category of data is known as “exhaust” data – data generated as a byproduct of some other process. Much financial market data is a result of two parties agreeing on a price for the sale of an asset. The record of the price of the sale at that instant becomes a form of exhaust data.
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