In this sixth and final session, learn more about how to plan beyond the first use case for MDM and elevate from project to program with the ‘three amigos’ Bill O’Kane – Profisee VP & MDM Strategist, Harbert Bernard – Profisee Director of Value Management and Christopher Dwight – Profisee VP of Customer Success.
Listen to the Podcast!
Here’s part 1 on organizational readiness, part 2 on understanding your why, part 3 on TCO calculation, part 4 on program scope, and part 5 on evaluation pitfalls if you missed any of the prior sessions.
In this session, we are excited to talk a little bit more about helping you as you finish the first MDM project; how you can take those learnings, and continue to deploy multiple projects in your company. Martin was recently chatting with a customer who when he was asked about his most recent project – said, “MDM really had become a program and a way of life.” We often see customers develop a Center of MDM Excellence internally as the word gets around about the results that MDM can help drive.
So let’s talk about some examples of moving beyond the first use case. Today, we will begin with an example from some of our Healthcare customers. Many of them do begin with the Provider Hub as their first type of MDM project to tackle.
As you can see here, companies often bring together data from a number of source systems, to create a standardized Provider listing. Most healthcare companies are focused right now on making sure they are getting this completed to be in compliance with upcoming regulations. The benefit of completing this Provider listing is now you can publish a directory on your website – so that might be your first use case. But now very quickly you can see that there is another project you can use that same trusted data for creating a patient scheduling app, and on & on through the other examples listed above.
Next, we talk about the manufacturing industry. You can see below in this example of being able to see the big picture of your organization with Operations being in the center and looking up and down the supply chain. One place we’ve seen some companies start is wanting to create a Vendor Portal – so your vendors can sign in themselves and manage their own information and details, and so perhaps your first use case is built around Vendor Communications, and so you begin by creating ‘golden records’ of supplier data.
So you built out your first use case on Suppliers for Vendor Communications, but perhaps next you want to improve your Strategic Sourcing/Procurement Program and for that, you will need Supplier and Item/Material data. Well, this project already has a leg up, so to speak, as you have already completed the Supplier data foundation, and you can use that data straight away in your new project for Strategic Sourcing. You now get to experience the benefits of doing one domain right the first time (your first use case) and then re-using that same data foundation multiple times in a variety of places throughout the organization (going beyond that first opportunity).
Harbert shares how this is a big part of his business impact program analysis that he will conduct with companies. Helping to quantify the specific impacts and benefits to the bottom line helps internal leadership actually see what type of results they can expect by investing in the first MDM project and how it can grow into a very successful MDM program that directly increases revenue and helps reduce costs.
Harbert shares another example of working with an insurance company. They were looking at some of the benefits of creating a trusted data foundation around the auto policy. Harbert was also able to point out some of the next steps they can take around identifying which customers have these auto policies so that you can then look at potential savings packages to offer customers who move their homeowner’s policy over to them. There is a tremendous opportunity with cross-sell and upsell of policies to the different customer pools, and the roadmap exercise helps you map that out.
Bill points out to be sure to also include not just the above and below the line financial and operational benefits, but in the example of above, where the MDM program for MD Anderson has directly contributed to patient outcomes and saving lives. There is tremendous goodwill in programs to be accounted for from implementing a successful MDM program beyond the financial and operational benefits.
The guys spend some time reviewing the initial diagram we talked about related to ‘where to begin’? In those earlier discussions, we talked about looking for the ‘No Brainer’ type business problems to solve. What’s really interesting is over time, you get the compounding benefits of your MDM program, and because you can reuse trusted data in multiple use cases, you can suddenly see the ‘nice to have’ projects and the ‘striver’ projects pop into the ‘No brainer’ part of the chart because you have a high potential for success with low complexity because you’ve already completed the project of creating trusted data, and now can reuse what is already working and the risk of doing another project is much lower.
As time moves on, we often see our customers begin to develop some of the biggest benefits of an MDM program. This is where you see the internal Center of Excellence form around MDM. You will start to hear about more of these successes as they continue to roll out additional uses for the trusted data foundation.
But, you want to avoid getting stopped before you start with MDM. So, in the beginning, we often talk about finding that one small problem in one department to begin to solve. Then solve the next problem that maybe is a little bit bigger but in that one department and then allow the compounding effects to start rolling.
Once your program gets big enough, you will then run into other issues around silo projects and how to cross that gap. You will have senior leadership wanting more help with seeing the whole picture of the business and how the data relates across those different business units. And this is another aspect of your MDM program that you will want to look into and figure out how it will work in your company: your data governance (DG) program. Christopher spends some time chatting more about how MDM and DG go together, and how this helps your MDM program continue to mature and become a strategic tool for your company.
Protip: MDM Platforms are much more agile and you can more quickly build out your initial MDM projects. Trying to do some of these same things in the system of record platforms like your ERP would be months and months of analysis, project identification, and testing, whereas tools like Profisee can help you rapid prototype a domain solution or help you model/answer questions you simply cannot easily do in an ERP. Christopher discusses the idea around managing multiple hierarchies and/or alternate hierarchies and how to do this in an MDM platform.
Another question that came up right at the end was around what to do if your existing MDM solution doesn’t support doing rapid, multiple use cases. Christopher says he sees this and the biggest caution is to not let yourself get trapped by technology and tooling. You may have been an early adopter of MDM solutions or perhaps built your own tool in-house. But just as your project can mature into an MDM program, MDM platforms have made tremendous strides in helping you respond in a nimble way to changing business conditions.
That like many things MDM is a journey. You can develop and think about the big picture of where you hope your data management programs will evolve, but you should never let that slow you down or stall out taking action to achieve your goals. Remember to:
Thank you for participating in this 6 part series on Selling to Leadership. If we can be of further assistance, reach out to connect.
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