How accurate Master Data drives reduced Data Maintenance
Master data, which forms the core data of an enterprise, lays the foundation for the smooth running of business processes and data driven decision making. Examples of master data could be Product information, supplier information, employee information etc. that are referenced in business transactions. The effective handling of master data has become all too critical for any organization as it directly affects the decision-making capability, business processes, operational efficiency and supply chain metrics. Challenges with master data There are numerous master data related challenges that companies must overcome to enjoy the full potential of an ERP system such as SAP . All process improvements via automation can only work if the master data is accurate and up to date. The age old saying of Garbage in, garbage out still holds true. Lets take a look at some of the major challenges with master data 1. Lack of Centralized Maintenance Low master data quality may tr...