More than anytime, Master Data Management is becoming a necessity in recent times. Customers are trying so many things to keep the cost lost and get better mileage.
Some of the drivers
- Better IT Compliance & manageability - CIOs key responsibility
- Technology & Industry trends
- Mergers & Acquisitions
- Easy reporting and better visibility to management
- Data Security compliance
- Growing cost of maintenance
- Resources availability to name a few ..
Master Data Management(MDM) is managing information that is core to the running of a business and typically refers to people, places, and things.
MDM solutions can have significant business value if they're executed properly. Master Data can have an impact on the bottom line. Master data is the critical connector between the enterprise systems that underlie most business operations. Master Data provides the necessary link between operational systems and the business intelligence solutions that support management's decision making. The quality of an organization's master data, therefore, can affect the quality of its operations and strategic decision making.
All the relevant data from following sources can be brought together
- Materials and
Who Needs MDM?
Do you have multiple systems which houses the master data for example customers, vendors, partners etc., if the answer is yes then you might be needing it to consolidate your master data. For example your company and global subsidiaries have master data of customers which are housed in different systems. There might be high probability of duplicate customers across the systems. MDM helps you to remove that duplicates so that you can service your customers better. The same concept works for your other master data like vendors, materials, employees, product data and business partners.
Global companies who ship from multiple locations as mismatched master data/product data will affect your ability to ship orders from global points as there would be problems in ATP etc as they won’t recognize both of them as same products/materials.
We at VENIT Solutions have partnered with talend* to provide best in industry MDM solutions. We provide both Project Based, Consulting Based Services. Our consultants come with vast data management knowledge and good industry experience. They work very closely with business to identify all the drivers. This has been the center piece of our consulting activities.
Please use our MDM Information Gathering section for us to evaluate your MDM needs
(Note: We don't control any patents for these documents. It comes from SAP, Talend directly)