Master data is the core reference data that describes the fundamental dimensions of business— products, materials, vendors, customers, chart of accounts, location etc. Master Data Management (MDM) is a comprehensive strategy to determine and build a single, accurate and authoritative source of truth of a company’s information assets and deliver this on demand as a service. Master data is an important enterprise asset, and an effective MDM program is critical in maintaining good operational and financial health.
Harmonized master data is the foundation for companies to enhance their ROI on ERP / MRP projects and consolidation. Clean, consolidated and enriched master data optimizes inventory, improves operational efficiency, rationalizes spend and vendor base, prevents financial errors/frauds and improves control processes. However, successfully executing a large data harmonization project without compromising on quality, time and cost can be a very challenging task, if a traditional, manual approach is adopted.
IAVENIR addresses these concerns with help of inhouse solutions combined with its domain expertise to deliver projects on time and within budget. Post-Harmonization, IAVENIR provides ongoing Data Governance and Stewardship through its all time services.