Master data management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file, that provides a common point of reference. By definition, only one organization within a company controls the data.
GBS is the perfect platform to enable a best-in-class MDM capabilities strategy, and derive optimal value from data and information assets. An MDM strategy is a critical component of any successful GBS model – and a natural fit as well. The cross-functional discipline of MDM can accelerate the movement of organizations along the GBS maturity curve, as data is harmonized across multiple technology platforms to achieve a common view of information.
Accurate and accessible master data is a foundational element in any Global Business Services (GBS) effort. It can make analysis and reporting faster, simpler and, most importantly, more accurate, and therefore more trusted and useful. By cleaning and ensuring the integrity of its master data, a GBS organization can maintain a clear view of its operations and drive tangible benefits such as increased cost savings.
View our GBS Master Data Management insights report (PDF 144.8 KB) to learn more about the benefits, process and critical questions you should be asking about master data management.