Information derives its own unique benefits from Master Data Management. Scroll down and explore the advantages that you will gain when your data isn’t siloed in your organization. Make sure everyone has access to the right data, in the right place, at the right time. All of this in one platform.
It's challenging to manage hundreds, thousands of products. Especially if the information about them is found in countless spreadsheets and in disparate systems or departments across your organization; leaving you with duplicate, inaccurate and poor quality 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 loyalty. A seamless MDM solution managing customer data can:
Boost your sales and marketing through up-sell and cross-sell opportunities, targeted campaigns and personalized product bundles
Improve your customer service and deliver products your customers want through their preferred channels
Ensure that complete and accurate organizational hierarchies are available to your sales and marketing teams
Reduce your 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
You need to understand and collaborate with your supply chain. However, the relevant supplier information is probably spread out across systems (CRM, ERP, spreadsheets) and departments, leading to all kinds of inefficiencies in supplier on-boarding, communication and management. Managing your supplier data in an MDM platform allows you to:
Identify and reconcile partners and their parent companies, if applicable, from multiple lines of business
Improve the vetting and on-boarding 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 on-board new product details and make changes to existing products in a standard format
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, you will not get an accurate view of each employee. With your employee data in a centrally located MDM system, you can:
Identify the gaps in your current workforce, as well as the salary and benefits requirements for attracting the best talent
Streamline the processes for performance reviews, benefits and payroll, and eliminate your risk in employee termination and exit processes
Implement modern HR systems and processes that require enterprise-wide system integration
Reference data determines allowed values for fields such as country, currency and conversions. Maintaining 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.
Stibo Systems’ STEP MDM platform easily integrates with other enterprise systems and sources, allowing you to efficiently manage all of your reference data.
Accurately import and distribute reference data
Easily establish processes to ensure your reference data is always current and compliant
Establish processes to identify and approve changes to reference data
Take advantage of complete versioning support and change history for reference data sets
Efficiently map and navigate through reference data using STEP’s hierarchy management
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 maximise the efficiency with which you manage numerous physical stores and sub-organisations, location data is a valuable addition to any enterprise master data initiative.