Master Data Management
Power critical supply chain analytics and optimize clinical performance with a configurable solution for all your master data
In today’s complex business environment, master data is typically scattered across multiple applications without keeping data clean, consistent, and reliable. This has a significant impact on an organization’s operational and analytical efficiency as core data about products, customers, suppliers, locations and employees is affected. Both the largest and smallest companies have master data that is fragmented, inaccurate and out of sync. What should be your greatest asset has become one of your biggest operational problems. The challenges include:
- Master data resides in multiple disconnected silos
- Inaccurate, incomplete and inconsistent data
- Lack of flexibility to support new business requirements
- Unreliable data for business decisions
- Manual and error-prone processes
- Costly point-to-point integration and administrative costs
Innovit’s Multi-Domain Master Data Management solution helps you manage multiple domains of master data, including product, customer, supplier, asset, location and pricing in a single application. This approach addresses these challenges at their core by enabling organizations to aggregate, manage and validate all types of master data in a single application, synchronize it with all their critical business processes, and synchronize it with all trading partners, regulators and other key stakeholders.
Innovit’s solution centralizes and improves the management and maintenance of many types of master data, including product, supplier, customer, asset and site data, digital assets, recipes, BOM, kits and prices.
Applying MDM best practices and disciplined data governance delivers reliable master data that enables critical supply chain analytics and optimizes clinical performance. The result is improved master data quality, reduced total supply chain costs, confidence in sourcing critical materials, closer collaboration with trading partners, more effective product marketing, better inventory control, and significantly improved business analytics.
Features & Benefits
Avoid the dilemma of garbage-in garbage-out with graphical, easy-to-use ‘out-of-the-box’ tools that apply real-time validations to master data.
Support commercial and regulatory compliance by applying pre-packaged data validations using industry standards such as GS1, GUDID, EUDAMED and more.
Automated execution, monitoring and reporting of collaborative workflow tasks without the need for manual human coordination and administration.
‘Drag & drop’ functionality helps data stewards map, extract and syndicate master data to any target data recipient, be it a system or a process.
All major file & message formats are supported ‘out-of-the-box’. Data syndication can be automated using scheduled batch jobs, or real-time web services APIs (Application Programming Interfaces).
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MDM Done Right, 9 Best Practices
To better understand how data works, keep reading to discover the top 9 master data management best practices.
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Master Data Management helps optimize business performance, keep client data secure, maximize sales and increase brand awareness. Learn the key things to think about to find the best MDM tool for your business.