Make better business decisions based on reliable data
Many companies experience having multiple versions of the same master data in different parts of its operation. Lack of data security and strategy for handling and sharing important master data leads to inefficient routines and cumbersome business procedures. In the event of inconsistent data, there is no guarantee of consistent information across platforms and systems. Some of the biggest data challenges that many companies experience stem from data silos with multiple versions of company data as well as inaccurate data due to errors in manual data entry.
What is Master Data Management?
Synchronization of data across departments
Master Data Management is a central process that gathers company data into one accurate and reliable version of essential master data.
It is an organized approach to data management – a data strategy and technology for managing the company’s master data, also called master data.
Master data is the company’s important data sources with information about employees, customers, suppliers, products, locations, finance, etc.
Using MDM, you manage the same version of data across the organization, and make it possible to share master data no matter what platform or enterprise system you are on – ex. ERP, CRM, e-commerce or others.
What is the benefit of Master Data Management?
Securing consistent information when sharing data across platforms
Master Data Management gives you assurance that there is only one version of master data such as information about employees, customers, suppliers and product information, etc.
When having only one version of important data, you always have confidence that the information is reliable – even when it’s running across the organization.
A strategy for managing and synchronizing master data is a sure path to reliable data. High quality available data supports the business processes by connecting people and processes, and helps you meet your business goals.
Master Data Management gives you security for:
- common input to the same version of master data
- a simple, comprehensive overview of your data
- that there is only one version of master data in the company
- that accurate data is up to date and divisible across the company’s value chain
- to limit inefficiencies caused by data silos
- automation of important data processes
Master Data Management – what is in it for you?
When you want to make better business decisions, reliable data is the key to success
With a professional data strategy, the company achieves high quality data as well as optimal data reliability. This means that you have full control over your information, and thus the best conditions for making valuable decisions for your business.
When the organization has one common version of master data, it will, among other things, mean strengthened collaboration across the company and thus streamlining of a large number of internal processes.
With greater data transparency, you will improve the customer experience, get more value out of your existing applications and systems, increase customer satisfaction and not least get competitive advantages.
From one simple, reliable view of critical business information you will get:
- Making decisions based on the same version of data across platforms
- Increased collaboration and synergy between the departments
- Providing better customer service due to increased insight
- Increased competitiveness
- Gain better sales results
Who can benefit from having the same version of master data?
All companies that need to share and synchronize master data across the organization will benefit greatly from having only one version of important data such as data on customers, suppliers and product information, etc.
Customer cases – when you want to make better business decisions
Since its establishment in 2004, we have helped manufacturing companies, primarily in the technological and machinery industrial business as well as the pharmaceutical and Life Science segment. We are aiming at creating value through simplified and transparent processes for increased efficiency.
“I would think this is a solution that is relevant to 80% of the companies that use Microsoft Dynamics NAV. The alternative is to base its data quality on employees who never fail. ”
Peter Valentin-Hjorth
Technology and Environment, Copenhagen Municipality
