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Master data management
Sometimes, all a business needs to succeed is the truth — meaning that companies must have true and quality and accurate data in their internal systems to prosper. However, many top and small companies are struggling with the opposite situation: Redundant and misaligned master data all across their system landscape. For example, sometimes it will happen the same customer or supplier data is represented inconsistently in multiple systems. Often, this redundant information is conflicting, especially if no governance and corporate standards are applied these kinds of misleading master data create a big problem in companies.
One might judge this as a pure and accurate IT problem. However, this situation leads to big and real business problems: Wrong business decisions are taken because of incorrect reporting — for example, if you are unable to see a particular customer’s orders across all systems. Customer satisfaction and therefore revenue is negatively affected if you are unable to respond to customer inquiries reasonably.
Take a look at your company’s systems and determine how accurate your master data is. before that Ask yourself: In your company, how many different databases, applications, and spreadsheets exist that hold accurate information about your customers, your suppliers, and even your own products? How costly and time-consuming is the creation and maintenance process? And the question arises that most importantly, how trusted is the information behind these data assets?
If your own data is giving you multiple versions of the truth, imagine what that’s telling partners in your business networks. Clarity into your own data becomes even more important as you seek to expand the reach of your business by networking with other companies.
To help companies to find the truth and accuracy is the role of master data management (MDM). SAP NetWeaver Master Data Management (SAP NetWeaver MDM) is enabling one version of the truth within your company, and it is a necessary foundation for enterprise services and business process management in any value network — providing a single version of the truth for customer, product, employee, supplier, or user-defined data objects.
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