Master Data Management for efficient processes
Dynamic markets and rapidly changing environmental conditions give modern companies the opportunity to achieve competitive advantages. At the same time, however, companies are under constantly increasing pressure, trying to adapt to altered trading conditions and a high level of market dynamism.
This is why business processes need to be harmonized and optimized, in order to meet economic conditions and legal requirements. The basis for efficient business processes is the permanent availability of high-quality master data. The key to this is a holistic Master Data Management.
Why Master Data Management is important
Master data are a critical resource for any company – nevertheless, companies rarely succeed in gaining a comprehensive overview of them. This is because the data are spread across several systems in different company departments. Master Data Management helps to prepare these data qualitatively, and make strategic use of them for the company’s benefit.
A strategic concept for Master Data Management defines stable master data governance, a data model, the appropriate IT systems, and the corresponding processes for compiling, maintaining and assuring the quality of master data.
High quality master data increase the efficiency and flexibility of business processes, guaranteeing the smooth flow of global business processes through real-time availability and compliance with globally valid standards. Master Data Management is indispensable in order to be able to meet compliance requirements and carry out meaningful Business Intelligence evaluations.
CAMELOT has developed a comprehensive approach to Master Data Management, which defines the necessary processes, organization and governance structure, data models and technologies via a long-term Master Data Management strategy. We provide you with individual support in all phases of your master data project, from strategy to concept design and the technical implementation.