Managing master data in any business can be tremendously challenging. For most SAP customers, the creation and change of master data remains a very inefficient, manual process with no clear data ownership and little to no transparency in the process. Most organizations still utilize email and spreadsheet-driven management of data. The amount and detail of data is ever increasing, especially with omni-channel. Changing regulations and increasing interactions with a complex value chain are forcing organizations to manage master data attributes more accurately and the need for accurate data has grown significantly. Incorrect master data generates high costs across the value chain which impacts the organization’s bottom line.
Governing data at the point of creation and throughout the data lifecycle is one of the most challenging data management exercises for most enterprises. Data governance places controls to ensure data entry meets precise standards driven by business rules and compliance to a robust data model. Data governance consists of processes that ensure strategic data are managed formally throughout the enterprise. That strategic data cuts across domains like materials, supplier and customers.
