Companies provide services or sell products to its customers, create value to its owners while its employees doing their work in line with the business processes. The previous sentence contains the most important master data such as customer, product, service, and employee; beside these there are other important master data like categories, hierarchies, classifications, industry codes, etc.
Almost every organization uses separate systems to support the different areas of its business operations; and implements and maintains (parts of) its master data in these systems independently of each other. Using these independent or loosely coupled systems results in week data quality, cumbersome integration and last but not least the risk of making business decisions based on inconsistent data.
To reduce these risks every organization has to manage its master data properly. To support the most efficient and effective operation all companies have to have a consolidated view on all types of master data; that could be reached by using a Master Data Management (MDM) solution.
By implementing an MDM solution companies can reduce the time and effort required to maintain, clean and integrate master data, they can streamline the processes overlapping different business areas and IT systems. Finally, it could support creating an IT environment that helps business decision making by providing consistent data.
In the area of Master Data Management we can recommend packaged software or develop custom-made solutions, too. As a consultant we help in assessments, reviews, strategy development, technology and vendor selection or even implementation projects.