Master data management
Managing your master data can speed up operations, simplify reporting and improve your overview on the situation, leading to lower operational costs and to better and faster decisions.
What’s your story?
But what is Master Data Management?
Master Data Management can be understood in different ways. Here’s what we think:
|Master Data Management supports all business functions with critical reference data about the products, the customers, the suppliers, the company’s legal entities…|
|It is the most essential expectation from MDM: to make sure that all business activities can be executed||Imagine if your sales force has to maintain customer data every time their get an order, or your shipping managers entering the basic information about each product with every single shipment.|
|MDM is also about maintaining the right information on time|
|Besides making the data available, we must ensure that is it accurate, complete and that it all happens when the company needs it.||If you sign a new client, you wouldn’t want to leave a sticky note to your team with the customer’s details while you wait for the data to appear eventually in your systems.|
|And MDM is also about defining the right data model for your business and for your objectives|
|The company’s needs and objectives will evolve over time and the master data must change together with it. It ensures that new business processes can be followed, that automation can be supported, that internal controls can apply.||You should be able to quickly identify a customer, without concerns for duplications, aggregations, or oversights.|