Master Data Managements u p p l e m e n t
Achieving Efficiency and
Effectiveness with Your Master Data Luis M. Orama Senior Manager BearingPoint's Roadmap to an Enterprise-Wide EDM Strategy Information Management Practice BearingPoint, Inc.
Master data is the lifeblood of a business. Information ?Strategic planning: A strong EDM program gives about customers, vendors, and materials is instrumental organizations the tools they need to turn tacit to decisions on how an organization produces, buys, and knowledge into explicit, actionable knowledge. sells its goods and services. If the master data in these BearingPoint understands that MDM influences a spheres is inaccurate, various challenges arise: company's value chain by aligning products and service ?There's an influx of improper business decisions due offerings to customer needs, improving global sourcing to poor data quality and workforce fulf?illment, and spurring growth through better insight into performance. ?There's a loss of revenue because products cannot be tracked through shipment and returns, or because BearingPoint's approach to helping clients develop an customer information does not provide visibility into EDM strategy involves a three-pronged people, processes, cross-sell and up-sell opportunities and tools mindset that includes governance and data ? stewardship across the organization, data definition and You risk noncompliance with regulatory and quality mandates stemming from improper accounting, tax, quality standards, and a suite of tools to manage and and customs rules; this can be costly and detrimental maintain the data. So how do you get there?to market status The 5 Phases of an EDM ImplementationTime for an EDM Strategy As you embark on an EDM journey, BearingPoint offers An Enterprise Data Management (EDM) strategy is a five distinct phases to bring you closer to the efficiencies business objective to provide accurate and consistent and effectiveness you seek:data across the enterprise as to how applications and 1. Develop a strategy definition blueprint that includes users define, integrate, and consume this data. By master data and reporting requirements.defining an enterprise-encompassing EDM strategy and leveraging SAP NetWeaver Master Data Management 2. C onduct a technology assessment for integration, (SAP NetWeaver MDM), a company can achieve clean, cleansing, and deployment requirements.consolidated, and consistent master data that improves 3. Execute critical roadmap and foundation activities data quality and reduces maintenance costs. for governance, stewardship, and quality.BearingPoint consultants have helped companies achieve: 4. P lan for incremental design changes as you roll out ?Better risk management: There's a continued and functionality in the organization.rapid rise in the number of compliance and regulatory 5. I mplement in gradual development, testing, mandates, as well as the need for increased transparency deployment, and improvement phases. in f?inancial reporting in today's market. BearingPoint recognizes that, without a set of standards around These phases arm the organization with accurate and current information management practices, risk complete data that can support effective, efficient management is a critical driver for an EDM strategy. transactional processing and reporting (through a reduction in errors), as well as higher data confidence. ?Financial improvements: Companies are becoming Heeding this roadmap along with BearingPoint's increasingly aware that information has tangible capital value that can improve financial results. p e o p l e , p r o c e s s e s , a n d t o o l s a p p r o a c h , y o u r BearingPoint suggests that the next strategic organization won't be left behind. step is to recognize information as a corporate asset. To learn more, visit www.bearingpoint.com/sap.
NetWeaverMagazine.com Reprinted with permission from the Summer 2008 SAP NetWeaver Magazine... [download for more]
