Challenges
Challenges
Managing master data across the entire IT infrastructure of your company is becoming increasingly complex in the age of digitisation. Requirements for quality and availability of master data are constantly increasing as more and more processes are automated with regards to digitisation.
»Poor master data quality leads to high costs in logistics, purchasing, sales and administration.«
What do we understand by MDM?
We understand Master Data Management as the management of all master data that you need in your business processes - from purchasing to logistics and sales, but also in supporting processes such as accounting.
Master Data Management is therefore a business process in its own right - not just an IT system.
Important master data domains are:
However, the question often raises as to what master data actually means – and, in contrast, what transaction data is.
Important master data domains are:
However, the question often raises as to what master data actually means – and, in contrast, what transaction data is.
MDM: Project or program?
»Think BIG – start small.«
First, it affects company Organisation. Who is responsible for master data? In which processes are master data created? What should these processes ideally look like in the future?
Secondly, it affects the company’s IT landscape. Which system is used for the management of master data? How does it need to be integrated so that all the systems in your IT landscape benefit from improved master data?
This shows that introducing Master Data Management usually means implementing a series of projects and that it should therefore be established as a program.
What do MDM software solutions offer?
MDM software solutions are specialized systems that, in particular, consider the requirements of master data management. Essential features of an MDM system are:
- a flexible and/or industry-specific data model
Master data is subject to continuous change, as requirements are constantly changing due to the progressive digitisation of the business processes that use this data. - Data Quality Management
Which is the current data quality with regard to the intended purpose? Where do I have to improve master data content to meet my data recipients' needs?
- Workflow support
Several employees usually edit and approve Master Data. An MDM system should support and control functions like creation, enrichment and approval. - Import, export and integration via APIs
Master data is usually already created in other systems and has to be transferred to other systems again after processing. MDM systems usually offer a wide range of integration options via special import and export functionalities and via corresponding APIs.
Why do MDM projects fail?
MDM projects are doomed to failure if we see them as pure IT projects.
Buying MDM software will not solve any problem. Organisation, processes and integration of MDM software into the existing IT landscape are also key factors that must be considered. And without clear goals, without a vision, there are no guidelines that will guide you on your MDM journey.
»A Fool with a Tool is still a Fool.«
Benefit from our experience
Contact us – no matter which project phase you currently find yourself in. We are happy to support you with our experience.