Gaining the most from your Master Data Management software
Master Data Management (MDM) software can streamline data sharing among individuals, teams, and departments in your organization. MDM software can also enable the synchronization of data across multiple system architectures, platforms, and applications.
The benefits of MDM software will increase with the number and diversity of people, departments and business applications involved within the process.
Establishing an MDM Program
An MDM program should begin with an assessment of the organization’s enterprise data management needs.
The assessment will include identifying the future requirements of master data, as well as processes that will best support data quality and governance, metadata management and the right system architecture for the organization.
From this assessment, you can start developing a master data management framework and select the right MDM software.
Choosing MDM Software
Here are some simple guidelines for when choosing MDM software:
- Company reputation: Work with a vendor who has a credible reputation within your industry or trading partners. Ensure they are trained and equipped with the skills that match your project requirements (e.g. ERP experience, global standards).
- Data governance utilities: Ensure the vendor can support a configurable data governance program for your business.
- Data quality utilities: Select configurable and flexible data validation tools that ensure you have data checks being performed as data is being entered into the system.
- Workflow management: Review the system to ensure it can support the complex workflow processes you may have within your business (e.g. NPD, NPI, PLM).
- Integration capabilities: Review the vendor’s experience with integration to similar core systems.
- Industry requirements and standards: Be aware that some industries have specific MDM mandates and controls that need to be supported (e.g. GDSN, UDI, 1169). Ensure your vendor holds relevant certification.
- Multi-domain support: Understand the domain types you need to support. Manufacturing domains, for example, will need to include customers, product, suppliers, materials, items, locations.
Implementing an MDM Program
Here are five key implmentation steps to consider:
- Discovery. Documenting and modeling essential business data and processes for utilizing common data, identifying all data sources and defining your metadata.
- Analysis. Identifying the authoritative data sources within your business, defining the data flows, people and processes, data transformation rules, integration, supporting standards.
- Construction. Design and build the MDM database, according to the architecture and framework.
- Implementation. Begin to populate your MDM database. Defining and implementing access rights; designing change management processes, and assessing data quality levels for MDM.
- Sustainability. Implementing your business process program as well as your change management program. Ensure that all parties within the process have adequate training and process documentation.
We have a range of tools and fact sheets that can help you with your MDM project.
Master Data Questionnaire (Download Here)
Data Quality Survey (Download Here)
Innovit Trading Partner Analysis Program (Register Here)
Need to speak with one of our solution experts?
Innovit has helped many companies in various industries to take control of their master data.
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