Just as in many companies, is the data management workload increasing in your company because the dynamics of business life and the data volume have increased noticeably in recent years? Then you know only too well the challenges associated with data quality, the provision of management information, inter-company collaboration, compliance with legal requirements and the further development of the IT landscape. Your data landscape is constantly in motion and the complexity is steadily increasing. As time goes on, the likelihood of the worst-case scenario increases, in which all business areas reach their breaking point.
However, it doesn’t have to come to that because in our experience, professional master data management can be implemented efficiently and promptly, regardless of the size of the company and the industry. Even if your IT landscape is heterogeneous and characterized by data silos and master data that are not managed in any IT system, there is a way out: The implementation of a Master Data Management solution with a common database for non-transactional master data (Master Data) in your company. In this way, you kill several birds with one stone and bring order to the master data chaos. With the flexible data model from Goldright, you can also unleash the full information potential contained in your master data. This gives you the necessary 360° view of your business areas for data-supported, solid decisions.
Master Data Management
The key factor is the implementation of a common database (Enterprise Suite) for the creation and management of your master data model. It is connected to your existing data sources via configurable, bidirectional interfaces.
Data integration
First, your master data is consolidated into a Golden Record in the respective groups. A data set in which all relevant attributes from the data sources are mapped correctly, traceably and without contradiction, is expanded with additional information on the origin of the data attributes. Of course, it is also possible to upload all common file formats to the Golden Records or to create a link to external document storage. If necessary, you have the option of enriching your master data with key figures and third-party data or transferring data attributes to source systems.
Information integration
Then you map relationships and connections between the data sets. These information integration allows you to better understand the meaning of the respective master data and immediately recognize relationships and dependencies. You control daily internal and, if necessary, external collaboration centrally with the Enterprise Suite. With clear access rights, you regulate which employee can see and edit what down to the level of data attributes and files. In addition, you steer the work processes and procedures via the individually configured workflows and reminders. In this way, you can ensure at all times that the internal and external legal regulations are fully complied with and that these are also properly documented.
Data versioning
Depending on your internal data management processes, you maintain your master data in your daily work directly in the Goldright Enterprise Suite or, if necessary, in the source system. All changes and new creations are automatically saved centrally within the Golden Record with a time stamp or validity. This creates the chronological version history in which all data records are saved with all data attributes, files, information and relations as they were at this point in time.
Reporting tool & time stamp
The resulting time layers allow you to switch to any date in the past or in the future with just a few clicks. In this way, you receive the correct view of your master data with all data records including attributes, files, relations and information at this point in time. This allows you to create current reports or reports related to key dates, graphic representations or even exports of your master data (Master Data) at any time. Of course, you also have the option of automatically creating and sending reports and exports, or of transferring data to an external template, where you can also create historical comparisons, if needed. This gives you the necessary 360° view of your business areas at the touch of a button, with all the information you need for data-supported, comprehensive decisions.
What else can Master Data Management do?
With the Goldright Enterprise Suite, you remain independent and agile for the long term. Due to the flexible data model, you always have the option of using Master Data Management for other business areas as well. Your trained employees either adapt your existing data model, reports and interfaces themselves via the web-based user interface, or our support aids you if necessary. In addition, the Enterprise Suite is adaptable and has interfaces to all common data sources, IT systems and technologies. It is operated according to your wishes on our Sovereign Cloud, your own cloud or on your premises.
