Master Data Management
Changing a customer record
It should not have to be done in multiple systems.
Master Data Management is the key to managing your business data. It ensures you have one complete, accurate, and secure master data file that provides your business with a trusted single source or "Golden Record" of data.
This single source of truth is essential for your data-driven business as it provides the information for your customer experience program, marketing and sales operations, omni-channel retailing, supply chain optimization, governance efforts, compliance initiatives and more.
Types of Master Data Management
Product
Speed up time to market for products that you manufacture, distribute or sell. Get away from Excel spreadsheets and other partial solutions across all channels including online, mobile, retail stores, catalogues, point of sale (PoS), procurement, and more.
Provide customers with more information about your products and brands enabling them to make informed purchase decisions. Track these purchase decisions to drive product research, development and enhanced decision making allowing you to sell more to your customers.
Product MDM Features and Benefits
- Faster product launches
- Greater customer loyalty thanks to high-quality service and information
- Higher margins and conversion rates in e-commerce
- Increased sales through smart cross and up-selling
- Onboard faster to expand your product offerings using automation and workflows
- Manage media assets
Customers
Accurate information about relationships with your customers allow you to better understand how they interact across the company. Clean and timely information about your customers helps ensure your systems can deal with householding, more accurate market segmentation and campaigns to increase customer counts and retention.
Customer MDM Features and Benefits
- Link and synchronize customer information across heterogenous data sources
- Maintain a central golden record of customers that feed other systems
- Consolidate by using match and merging algorithms to accurately remove duplicate records
- Apply governance and process using automation and workflow
Supplier
Accurate information about your suppliers and the supply chains they represent allow you to optimize these relationships and ensure your systems and decisions are using clean and timely information, not just the stale data that has been originally transmitted by the suppliers.
Empower your teams to proactively communicate with suppliers and gain visibility into these important relationships. Drive compliance across the supplier life-cycle using accurate vendor data from the initial review, on-boarding and ongoing maintenance.
Supplier MDM Features and Benefits
Reduce cost of managing supplier information
Insights into contract dollar status, start and end dates, timelines to renew
Centralized contact information for product recalls and purchasing histories
Secure supplier portal to converse and share data
Collaborate with vendors to create better products and interactions with customers
Assets
Centrally-managed asset information allows you to better understand where they are located, if they are being utilized properly and provide accurate maintenance histories. An up to date global view of your assets using trusted data will allow you to make more informed decisions today and forecast better using predictive analytics.
Asset MDM Features and Benefits
- Consistently track assets with more details and share across all your systems and processes
- Apply to warehouses, stores
- Apply to vehicles, shipping methods
- Apply to oil rigs, inventory, medical devices and facilities
Benefits of Master Data Management
Master Data Management provides an organized approach to data as it consolidates all of your different corporate systems together. This consolidation of data increases the value of your analytics and quality of your data and connects information, people and processes to help you meet your business objectives. Without proper Master Data Management important business data can be hidden preventing you from making the right decisions.
Other benefits of Master Data Management include:
Eliminate inaccessable silos of master data that exist in different departments or businesses
Improve opperational efficiency by aligning organizational and operational data
See a complete view of all interactions enabling you to link transactions for a full view of customer behaviour
Enhance the customer experience by using insights to drive business performance
Ensure data quality, completeness and consistency by removing duplicate or incorrect data
Provide regulatory compliance such as GDPR with trusted and secure data
Master Data Management Services
Integrationworx can help you with your MDM projects so your business can establish consistent data across all of its systems. Our services are designed to give you maximum flexibility that suit your needs.
Roadmap to get to your vision
Toolset Selection and Enabling
Integrating with backend and customer facing systems
Establishing data quality and data steward processes
Enforcing the upkeep into your current systems and processes
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Integrationworx understands that you want to maximize your investments in MDM so that you have accurate data driving your organization's systems and processes. This will help drive value to your business and to your customers. See how we can help you with your Master Data Management strategy and overcome your implementation challenges.