According to the estimates of The Data Warehousing Institute (TDWI)*, American businesses collectively lose over USD 600B annually on account of poor data quality. In our 18 year history at Triniti, we have seen that most organizations do not have Clean Master Data. Clean Master data is the cornerstone to your business, whether it is the products, customers, suppliers, etc. We have also seen that this is usually managed by a hodge-podge of systems, manual processes, spreadsheets and most scariest of all, “Tribal Knowledge”. Tribal knowledge should be the worst nightmare of any executive, as you are held hostage by a few people that know certain processes and data elements that should be automated within your system. In this day and age, there is no excuse for any business to be a victim of tribal knowledge, especially in the master data realm. In order for you to be a scalable business and to allow seamless growth and acquisitions, and in order for your production quality and delivery timelines to be optimal, you should focus on having clean data.
Triniti's Application Data Management (ADM) tools enable you to achieve those goals and avoid the pitfalls of bad data. ADM tools work on the similar concepts of Master Data Management (MDM) solutions, focusing on the master data needs of a specific business application (or a small set of applications that share master data). Specifically, a properly-deployed ADM strengthens the organization with the following capabilities.
Helps eliminate the causes of poor master data by enforcing a disciplined Governance approach that empowers Information Stewards to manage the complete lifecycle of master data as it is used in the various applications of the organization – tribal practices are avoided and instead best data management practices are institutionalized
Provides a simple yet comprehensive user interaction model that significantly improves the productivity of end users responsible for master data activities
Accelerates the realization of ROI from business applications deployed by the Organization: By providing seamless integration between master data managed by ADM tools and the consuming business applications such as ERP, CRM etc, time latency and costly data integration overheads typical of regular MDM solutions are avoided
Delivers insight into useful data management process metrics & reports to Information Stewards, thereby shining a light on specific areas that can further be improved
This refined approach to MDM has helped our long-term customers to reap significant bottom line benefits. As an example, one large business has shrunk its annual financial book closing process from several weeks to one day, thus enabling them to be extremely rapid in their Financial Reporting to external stakeholders.
* The Data Warehousing Institute Report series: Data Quality and the Bottom Line: Achieving business success through a commitment to High Quality Data – Wayne W. EckersonLearn how TPM helps you easily enter and view supply chain master data
Learn how TPM enables Timely, Reliable, Accurate and Complete Information
Learn which application should I focus on?
Learn how TPM enables security, policies, audit and overall governance of supply chain master data