Key Adoption Drivers for Master Data Management

Organizations are implementing master data management solutions to achieve the following goals:
  • Regulatory compliance, such as financial reporting and data privacy requirements.
  • Avoid corporate embarrassments. For example, you can improve recall effectiveness and avoid mailing to deceased individuals.
  • Cost savings by streamlining business processes, consolidating software licenses, and reducing the costs associated with data administration, application development, data cleansing, third-party data providers, and capital costs.
  • Productivity improvements across the organization by reducing duplicate, inaccurate, and poor-quality data, helping to refocus resources on more strategic or higher-value activities.
  • Increased revenue by improving visibility and access to accurate customer data, resulting in increased yields for marketing campaigns and better opportunities for cross-selling and up-selling to customers and prospects.
  • Strategic goals, such as customer loyalty and retention, supply chain excellence, strategic sourcing and contracting, geographic expansion, and marketing effectiveness.

0 COMMENTS

We’d like to hear from you!