Multidomain Master Data Management

Information is complex, has many dependencies and can often be found in countless spreadsheets and disparate systems, leaving you with duplicate and inaccurate information.

Multidomain MDM solution allows you to:

• Eliminate duplicate information by 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 bring new products and services to market faster, streamline processes and reduce returns

The solution makes it easy to link customer records to other data domains – such as product and location information – so you can create experiences your customers will love.

Stibo Systems' MDM solution enables you to build a complete view of your customers by synchronizing systems across the enterprise to create a “golden” customer profile. Whether you want to execute an omnichannel brand strategy, deliver personalized products at scale or build targeted marketing campaigns, Stibo Systems’ MDM can:

• Ensure consistent information across channels and customer touchpoints
• Drive customer retention and lifetime value
• Boost average order size
• Increase cross-sell and upsell opportunities

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 suppliers
• Onboard new supplier product details and make changes to existing products
• Track and manage the performance and contracts of your suppliers over time

If you want to analyze the geographic shopping habits of your customers, gain a deeper understanding of warehouse locations or effectively manage numerous physical stores, then location data is a valuable addition to your enterprise master data initiative.

Connecting your location data to other data domains will help you:

• Reduce costs by spending less time updating spreadsheets and tracking down information stored in silos
• Uncover hidden business insights by cross-referencing location data with other domains
• Understand how specific locations and geographic regions perform
• Allow location-enabled asset management systems to leverage a trusted single source of data

Party data is much more than customers; it can be your providers or partners, it can be organizations as well as individuals, and they might even have relationships that can complicate the view.

Using a multidomain master data management solution ensures the highest quality of party data because it connects and integrates different data sources, of which your CRM system is just one.

Other sources can be rating institutes and even social media. Identifying relationships between parties can also be valuable for identifying and creating cross-sell opportunities.

Centralizing your reference data will help you:

• Increase the value of your data by re-using reference data within the organization
• Lower costs by using a centralized hub to automate changes or updates to reference data

• Minimize risk and ensure regulatory compliance when using audit trails, version control and approval processes
• Reduce downtime with all your systems using accurate and current reference data

Managing asset data using disparate systems across departments can be cumbersome and a source of poor-quality data.

With the Internet of Things (IoT), assets become connected and generate data. Multidomain master data management enables you to leverage that data and turn it into business value.

MDM integrates asset data from multiple systems and enables you to efficiently search and manage your asset collection.

It also helps by de-duping and consolidating asset data, providing full visibility that includes location, status, usage and accountable user.

Having all your asset data in one place allows you to:

• Achieve a trusted view of your asset portfolio
• Lower operational costs by analyzing usage, inventory and maintenance data
• Reduce costs by tracking vendors, stock levels and shortages or surplus of assets
• Accelerate product time-to-market by efficiently managing equipment, raw materials, parts and other physical assets

With a single, 360° employee profile you can:

• Improve talent acquisition and retention by gaining a better understanding of the gaps in your current workforce
• Eliminate potential risks in termination and exit processes

• Reduce operational costs when implementing new HR systems
• Streamline processes for performance reviews, benefits and payroll
• Ensure regulatory compliance when standardizing employee data across all systems to adhere to federal and state regulations, workplace safety standards and OSHA requirements

It therefore needs to be trustworthy and available for other business systems. Keeping it siloed in ERP undermines data quality and efficiency.

Using MDM as the centralized connector for master ledger data ensures this business-critical data is up-to-date, consolidated and available to all who need it.

• Unique product ID’s and pricing data created in ERP must be available for sales platforms like the website
• Supplier and vendor data residing in ERP must be synchronized with CRM and third-party sources

Using different implementation styles, MDM confirms and links business-critical data by connecting ERP with other systems. In a consolidating implementation style, MDM gathers and synchronizes ledger data created in ERP, providing a “golden record” of trusted information.

In the centralized implementation style, data can also be created in MDM and pushed to ERP. In either case, MDM takes the role as the single source of truth.

Following are two ledger data use cases:

Use case 1: A product is created with a unique ID in ERP. In MDM, the product data is enriched with additional information and digital assets. This enhanced information then flows back into ERP where it can be used for invoicing.

Use case 2: In order to check the accuracy of the invoicing and delivery address, MDM matches customer data in ERP with information from CRM and an external source like Loqate.

Stibo Systems’ Multidomain MDM solution is capable of connecting all data domains across business systems and provides consolidation of the ecosystem of vendor data. The multidomain approach enables a 360° view of vendors that can include locations, products, contracts and sales performance. Enterprises would be able to allocate resources at the right time with the right vendor (customer) for the right reasons. They would be able to perform segmentations, resource assignments and trade assessments based on true and trusted insights.

Trusted vendor data allows manufacturers to:

• Deliver orders at required speed
• Optimize their end-to-end processes
• Provide data transparency
• Reduce costs and risks
• Improve invoicing and logistics
• Plan strategically with more confidence