Master Data Management

Master data management solution help retail associations to distinguish and keep up single, consistent view of business critical data that is often locked, replicate and scattered inside data storehouses over the business.

Master Data Management comprises the processes, governance, policies, standards and tools that consistently define and manage the critical data of an organization to provide a single point of reference.

Driving the Business with Master Data

What separates successful companies from mediocre or failing companies? In addition to overall factors like strong management, effective strategies, and quality products and services, we believe successful companies have three characteristics:

• They are more flexible and adaptive to change—and they are adept at managing change.
• They make better business decisions, develop effective operational strategies, and accurately forecast future needs and revenue streams.
• They are better able to achieve and sustain compliance with various governmental and legislative mandates such as the Sarbanes-Oxley Act (SOX), the Patriot Act, the Information Security Accountability Act, Basel II, and Solvency II, to name but a few.

A retail supplier of electronic equipment with a growing customer base, product lines, partners and vendors needed a 360-degree view of its core business entities, transactional information, and integrated data for business analytics.

BUSINESS CHALLENGE

Based on changing business needs, legal requirements, and governmental regulations, Organization found them in a position where they must retain structured and unstructured data indefinitely. The inability to get the critical information was prolonging customer and product management time, affecting overall time to market products.

THE SOLUTION

We created the MDM platform with services and rules to unify, cleanse, standardize, de-duplicate and govern master data. This implementation has not only brought flexibility in information propagation between various applications but has also given more control to clients to manage data and get a 360-degree reporting view around each master entity.

BUSINESS BENEFITS

Some of the tangible benefits to businesses of the MDM initiative were: Supply Chain Improvements, Reduced Time to Market, Improved Revenue, Improved Call Center Performance, Decreased Call-to-Order Processing Duration, Reduced Shipping and Invoicing Errors, Faster Collection of Product, Vendor, Customer and Price List Information, Regulatory Compliance, Better Data Integration, and Reduced IT efforts to address data quality problems.

Industrial Benefits of MDM

Finance Efficient and accurate financial and risk reporting Enhanced ability for regulatory compliance

Marketing  Single view of customer Better customer insight and interactions to provide customized services Ability to recognize cross-sell and up-sell opportunities

Manufacturing  Enables faster launch of targeted products Improved operational efficiency

Healthcare  True patient intelligence by linking and matching patient records Enforcement of information privacy Improved clinical information management

Telecom  Provide accurate, consolidated account information to customers, enabling convenient self-service at lower costs Accelerate the introduction of new products, bundles and special offers for target market segments

Energy and Utilities  Monitoring and predictive analysis for supply and pricing Rationalizes supplier base and ensures supplier and consumer management, and minimal supply chain risk.