Master Management

What is master management?

Any business process can benefit from MDM, simply because all applications rely on master data. The master data is what powers everything from financial reporting to customer information, and when the data is managed properly with a strong MDM solution, your company reaps the full value of both the applications and the enterprise’s data. Think better decision-making, increased operational effectiveness, improved customer satisfaction, and higher revenue and profits.

Specifically, with a solid MDM solution, business processes can benefit greatly with the following

Risk Management

Market volatility, cybersecurity breaches, and even foreign government instability are all contributing to increased business risk. To mitigate that risk, you need to understand it – and it’s all available in data to help, if used correctly. MDM makes it possible to understand every facet of the data, from its origins to its modifications.

Financial Reporting

Increasingly, regulators and executives alike want accurate, timely reports in as near real-time as possible. Without an agile MDM system, however, the data in those reports is often flawed and needs to be checked manually.

Regulatory Compliance

HIPAA, SOX, and others – it’s a veritable alphabet soup of regulations, and they seem to change daily as court cases and regulatory agencies act on new scenarios. Being able to produce accurate reports is more important than ever, whether the regulatory agency deals with the environment, taxes, employment, consumer protection, import/export, or employees. MDM helps enterprises stay on the right side of regulators, whether the regulations are voluntary, like the Basel frameworks, or mandatory.

Customer Care and Notifications

The importance of complete, accurate customer records cannot be emphasized enough. In addition to customer service, warranty information, and upselling opportunities, customer records are required for product recalls. Inaccurate data could lead to unnecessary liability, and MDM is required to ensure customers are notified promptly.That’s only the tip of the iceberg when it comes to MDM’s benefits. Everything from optimizing the supply chain to reducing labor costs can be boiled down to the need for accurate data. Considering the volume of data within an organization, it can no longer be managed manually.

MDM Fueled Applications

Master Data Management has now gone beyond the traditional boundaries and has specific solutions for every domain. We at MAGNOOS have experts who can drive the implementation of these technologies –

Customer 360:

A Customer 360 implementation is typically an extension of existing MDM implementation to give a focused view of the customer data.
Customer 360 empowers teams with a single view of customers, context of customer interactions, and visibility into customer relationships. it helps to simplify the end-to-end process of centrally on-boarding, strategically managing, visually exploring, and securely sharing information across the customer lifecycle.

Supplier 360:

A Supplier 360 implementation enables supply chain organizations to transform their supplier relationship management by turning inaccurate, restrained, or disconnected supplier information into trusted, governed, relevant, and authoritative data to fuel business and analytical applications. It provides a flexible ecosystem where everyone can access relevant information and manage vendors, their relationships, and the products and services they supply. Streamlining the supplier relationship and lifecycle management, Supplier 360 accelerates the data-driven digital transformation of the end-to-end information value chain.

Relate 360:

elate 360 implementation matches duplicated party information within and across data sources. Linking the data in a Hadoop environment lets you infer non-obvious relationships from your internal and external big data sources for a complete 360-degree view. MDM – Relate 360 provides a holistic view by literally connecting the dots that allow you to predict your customers’ future needs. It efficiently uses your big data to map households, influencers, and social connections.

Product 360:

A Product 360 implementation allows business users to more effectively manage and collaborate on product content to fuel all sales channels with consistent, rich, and accurate product data for an informed and engaging customer experience. By delivering clean, consistent, and trusted product data, Product 360 empowers customer engagement and a company’s digital transformation by increasing speed, agility, and time to market.

Reference 360:

Reference 360 is a native cloud master data management (MDM) solution preconfigured for managing reference data. Unlock the true value of reference data sets by centrally defining, managing, governing, and sharing.

MAGNOOS MDM Solution Benefits

For IT Management

With MAGNOOS, IT management benefits from an intelligent MDM platform implementation to:

  • Drive MDM and data governance projects on the path to success, on time and budget.
  • Enable shorter project lifecycles using a fast, safe, incremental approach that supports the three dimensions of MDM lifecycle evolution.
  • Implement a tactical MDM solution to today’s MDM problems while laying the foundations for future multi-domain strategic MDM needs.
  • Facilitate adoption of MDM initiatives through a non-intrusive solution that does not disrupt or affect existing systems or processes.
  • Easily adapt the MDM implementation to business users’ needs and data governance requirements.
  • Deliver projects that meet your company’s standards on time and budget and increase your organization’s capability to react to changing data requirements.
  • Integrate any data format.
  • Support future scalability and performance needs.
For Business Users

MAGNOOS solution provides business users with access to master data they can trust:

  • Business analysts are empowered with an accurate and comprehensive view of the company and can make precise and confident decisions.
  • Discover cross-sell and up-sell opportunities with a 360 degree view of customers and products, which increases revenue and improves customer satisfaction and retention.
  • Business users acquire better knowledge and control of critical data. Shared understanding of master data concepts with global access to consolidated master data, which supports operational efficiency and an adaptability to environmental challenges.
  • Reduce the cost of mergers and acquisitions. Merged companies automatically provide their data as new trusted assets, and the enterprise applies the appropriate governance processes. This translates into an immediate return on investment on the IT costs for integrating the new business critical data.
  • Increase transparency and traceability of data for compliance purposes. A centralized platform for managing data governance means the enterprise ensures total control over the data, including its history. Managing any kind of master data reduces the risks and cost by providing accurate audit trails and version control. 

Services

Data Governance Establishment and MDM Strategic Roadmap – Outline single or multi-domain MDM journey
MDM workshops
MDM Solution Architecture
MDM Framework/ Methodology Establishment
Implementation
Solution Definition and Implementation
Create a single version of truth by centralizing all the core business entities, and their attributes, references, hierarchies, and build 360-degree view of Entities
Data Quality Standardization for MDM
Data Privacy for MDM
Complete Solution Deployment Services
Planning, Strategy and ROI
Enhancement and Release Support