How to increase ROI on ERP investments with Data Governance?
Arthur Raguette, Executive Vice President at Verdantis Inc. is quite forthcoming on how master data management is the key to organizational success. He possesses a wealth of experience across several domains and believes in leveraging best practices and benefits for larger organizations with a view towards enhancing optimization and preventing failure especially in a post merger or acquisition environment. According to Arthur, Verdantis’ Integrity may well play a key role in the management of large enterprises and highlights how master data has been aiding financial and organizational areas through the last decade. Given below are some thoughts and ideas he shared during our popular webinar on data governance – ‘Driving SAP Upgrade or Consolidation Success with Harmonized Material Masters’.
He believes that master data provides a huge arsenal of reference points to various stakeholders on a consistent basis along with employees and business units. Master data consistency enables the creation of a reliable translation layer that helps businesses greatly. In addition, business procedures are made more reliable and accurate along with facilitation of greater understanding of operational practices within the entire organization. Enterprise applications are kept in good shape and ROI (return on investment) of an ERP investment is also made possible through rationalization and standardization of master data.
When it comes to common master data domains, quality issues always revolve around certain key aspects of the organization. These include all created and bought products in addition to all suppliers, customers and employees. Master data plays a vital role in beefing up global visibility and aiding organizational processes. Several issues can crop up on account of improper master data management strategies. On the whole, ownership definitions for materials, items and equipment are hard to decipher as compared to vendors and customers. To add to the organization’s woes, inconsistency of information and complexities on account of syncing and sharing come into the picture as a result. Who wants to handle a barrage of conflicting data in addition to delayed information requests? Companies may also junk ROI on ERP investments altogether in such a situation.
The only way forward is to embrace sustainable and effective master data management which steadily focuses on facilitating superior understanding and access for several data attributes along with specific categorization and functionality. Data is capably handled through Integrity, making it a boon for big businesses!
If this interests you, come back for the third and concluding part of the series next week wherein we will tell you the questions asked by our panelists after the webinar. In the meanwhile, if you would like to have a look at the 60 minutes webinar, you can have that here.
Further Reading –
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