Multidomain
MASTER DATA MANAGEMENT

Managing hundreds, thousands or even millions of products is challenging. Especially if the information about them is found in countless spreadsheets and in disparate systems or departments across your organization; leaving you with duplicate and inaccurate information. With a  single, accurate view of your products you can:

• Eliminate data silos and duplicate information by aggregating and consolidating product information from disparate systems
• Deliver an omnichannel customer experience by sharing business information seamlessly with back-end systems and publishing to customer-facing applications
• Increase business performance and operational efficiency when you introduce new products and services to market faster, streamline business processes and reduce returns

Can you identify your individual or organizational customers anywhere across your channels or lines of business? Probably not. Your data silos lead to inefficient sales, marketing and customer services – and reduced customer loyalty. With an accurate and enriched view of your customers you can:

• Boost sales and marketing through upsell and cross-sell opportunities, targeted campaigns and personalized product bundles
• Improve customer service and deliver products your customers want, through their preferred channels
• Reduce financial or legal risk of doing business with a subsidiary of your current customer or prospect
• Increase sales opportunities through accurate insight about certain companies’ reach in particular markets

Managing and tracking physical assets - such as equipment, buildings, materials and parts - can be costly when done ineffectively, due to higher maintenance costs, loss of assets and increased downtime. Having all your asset data in one, visible place allows you to:

• Simplify tasks like uploading and cleaning asset data, perform advanced searches, streamline inventory and asset usage and improve visibility of your assets
• Lower operational and storage costs by analyzing usage, inventory and maintenance data
• Reduce costs by tracking vendors, stock levels and shortages or surplus of assets
• Speed up product time-to-market by efficiently managing equipment, raw materials, parts and other physical assets needed for your products’ development

You need to understand and collaborate with your supply chain. However, relevant supplier information is probably spread out across systems (CRM, ERP, spreadsheets) and departments, leading to all kinds of inefficiencies in supplier onboarding, communication and management. With a single, accurate view of your suppliers you can:

• Identify and reconcile partners and their parent companies, if applicable, from multiple lines of business
• Improve the vetting and onboarding process of new and potential suppliers, including ones that may be on a black list for questionable labor practices
• Collaborate with your suppliers to efficiently onboard new product details and make changes to existing products in a standard format
• Track and manage the performance and contracts of your suppliers over time

Like every other company, yours faces the challenge of attracting and retaining the best talent in your field. If your employee data is spread out in silos across your organization, it’s hard to get a true view of each employee. With a single, 360-degree employee profile you can:

• Improve talent acquisition and retention when you better understand the gaps in your current workforce; therefore, eliminating risk in termination and exit processes
• Reduce operational costs when you implement new HR systems and streamline processes for performance reviews, benefits and payroll
• Ensure regulatory compliance when you standardize employee data across all systems to adhere to federal and state regulations, workplace safety standards and OSHA requirements

Reference data determines allowed values for fields such as country, currency and conversions. Keeping these values up-to-date is critical since they affect key business decisions, impact the performance of your systems and are needed to meet regulatory compliance. Centralizing your reference data will help you:

• Minimize risk and ensure regulatory compliance when using audit trails, version control and approval processes
• Reduce downtime when all your systems use accurate and current reference data across the enterprise
• Lower costs by using a centralized hub to automate processes, changes or updates to reference data

Inaccurate or inconsistent location data can reduce the effectiveness of your enterprise and expose you to unnecessary risk.

If you want to analyze the geographic shopping habits of your customers, gain a deeper understanding of where your products are warehoused, or simply maximize the efficiency with which you manage numerous physical stores and sub-organizations, location data is a valuable addition to any enterprise master data initiative. Centralizing and connecting your location data to other data domains will help you:

• Reduce costs by spending less time manually updating spreadsheets and tracking down information stored in silos
• Uncover hidden business insights by cross-referencing organizational location data against other domains to expose location-based relationships
• Support expansion efforts through deeper understanding of how specific locations and geographic regions perform