November 9, 2016
Industry-Leader Riversand Continues To Enable Global Master Data Management Across Diverse Verticals
Internationally and across multiple verticals, Riversand makes data management simple and successful for their clients.
Houston, November 09, 2016 — Riversand lends its innovation and experience to multiple industries, providing diverse and international clients with robust and scalable master data management (MDM) platform. “Our focus at Riversand along with our partners is to provide our customers a convergence of MDM best practices, deep industry knowledge and best-in-breed product solution. Riversand has global MDM customer success stories across multiple verticals and geographies spanning all major continents,” highlights Ninad Raikar, VP Global Professional Services.
These examples showcase a sampling of Riversand’s expertise in solving the individualized goals of various industries across data domains such as Product, Customer, and Vendor data:
In fast paced environments like e-retailing, customers expect fast and right information to be available to them at real time. An online retail client approached Riversand for a solution as their current legacy system failed to meet the need of the hour.
In addition to implementing a data governance model and data stewardship, Riversand solved their issues by:
- Better management of vendors and marketplace
- Maintaining electronics, publishers, apparel information in a well-arranged manner
- Creating and maintaining a hierarchy for various products
In Food manufacturing industry, lowering the time-to-market is the key to success as the competition is very fierce. Product traceability is another crucial aspect; for compliance reporting and adhering to social responsibility. Additional challenges include
- Efficient shelf life management by communicating the right data across various players in the logistics chain
- Managing segmented brands especially during mergers and acquisitions
- Reducing labeling errors as it can be costly for food manufacturers, especially during a recall
- Managing contextual marketing i.e. managing the details and images to be printed on the product based on the geography
Riversand’s MDM solution (MDMCenter) reduced the time-to market for new products by streamlining governance and communication process. All the players in the supply chain received the same information from the MDMCenter thereby ruling out any scope for error. Contextual marketing benefitted as data that was displayed was specific to a geography with the “Locale” option.
Riversand’s global data model, satisfies distributors need for a global process and standardization. Riversand’s MDMCenter enabled single enterprise data platform to manage and govern product and customer data solved the distributor’s data quality problem by implementing a system to identify and prevent inaccurate and duplicate data. Other use cases solved at this international distributor include
- Missing/ mismanaged hazardous materials information leading to its incorrect handling, shipping and storing
- Losses from refunds due to incorrect data being fed into the pricing system
- Invoicing errors leading to theft and inventory shrinkage
Procurement costs increase with inconsistent and duplicate vendor data. Riversand’s Healthcare client chose to implement Riversand’s MDMCenter along with Data Quality Management (DQM) solution to address this challenge.
Client’s data quality and reporting improved as MDMCenter became the single entry point for supplier records. Riversand’s built in match and merge solution identified and consolidated conflicting supplier records, thereby improving reliability of spend analytics. Additionally, with Riversand’s comprehensive data governance policies, supplier master data was consistently formatted and stored as it entered the system.
A Hi-Tech client had challenges with its customer master data. Broadly, no single version of truth was available and specifically, no data standardization such as names and addresses, was available.
Riversand’s MDMCenter provided the single source of truth for integrated, end-to-end customer data management, analysis, and governance. Riversand also implemented address standardization, so customers benefited from complete and accurate marketing information.