White Paper: The Case for Master Data Management
A white paper prepared by industry thought-leaders BPM Partners
According to the research and advisory firm TowerGroup, fifty percent of enterprises maintain master data separately in eleven or more source systems. Eighty percent of enterprises plan on centralizing master data. Because of this, large organizations face a growing problem that already undermines the accuracy of the reporting and analysis of their operations. Master data is being categorized, rolled up, and filtered inconsistently and erroneously across the enterprise. The answer to this problem is a software solution called an MDM system. The MDM (master data management) system:
- Handles the necessary integration of transactional storage, and analytic systems
- Supports compliance with Sarbanes-Oxley
- Enables an auditable, repeatable process
- Captures and protects your company's human intelligence about report structures—this is knowledge which otherwise lacks a home.
MDM is a major step to taking control of the critical issues of organization growth, IT change, the adoption of new business practices, and software evolution within the enterprise.
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