Master data solutions encompasses the handling of strategic data (e.g., operational, master, or reference data) for an entire enterprise. It includes the master data that is shared across organizational boundaries, regardless of whether those boundaries are departmental, functional, or geographical. How your organization governs its data at the point of creation, and throughout the data lifecycle within the company, is all part of the data management processes.
- Enforcing the integrity of data at the point of entry
- Eliminating the correction of data during transactions
- Saving wasted time spent deciding which data is correct (e.g., when there are multiple entries for one supplier, vendor or inventory part)
- Achieving trusted and smart business decisions based on accurate and reliable data
- Creating and/or enforcing standards for all categories of data, e.g., vendors, suppliers, inventory
How Utopia Can Help
Utopia can guide your organization through the process of creating data in a unified and consistent manner, enforcing rules and processes that keep the data standards in place so that the data used for business decisions is as accurate as possible. Our approach to Real Time Data Governance (RTDG) and Master Data Management (MDM) allows your business leaders the peace of mind that the reports they base decisions on are reliable and accurate. We can assist your organization in accelerating the adoption of best practices and industry standards that make your business run better, all the while keeping your goals in mind.