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Gartner Newsletter Highlights Business Value of MDM for Product Data

Upen Varanasi

By Upen Varanasi

On May 14, 2014

Riversand Featured As Leader on Gartner’s Magic Quadrant
The Business Value of MDM for Product Data

Master Data Management (MDM) was once considered to be an IT issue and few business executives were familiar with the term. In this information-hungry era, savvy executives now recognize MDM as the cornerstone to their organization’s success. Master Data is the critical information about customers, products, suppliers or similar categories. It is the foundational information used throughout an organization to establish workflow and make key business decisions. When Master Data is correct, consistent and up-to-date across an enterprise, management can achieve a holistic view of its internal operations, partner interactions and customer behaviors. This 360 view provides a “Single Source of Truth” creating increased efficiencies that result in higher profit margins.

Industry leaders agree that an organization should take a big picture – multi-domain approach when planning their Master Data Management strategy. Although one domain may be the project driver – such as the need to provide rich product content – an enterprise-wide evaluation will capitalize on efficiencies and maximize ROI when evaluating solutions.  A solution that can expand to manage additional domains such as vendor and customer will prove to have the highest TCO.

As the MDM space has matured, Riversand has been continually innovating to provide a robust; leading edge solution that can extend to manage multiple domains and has been implemented across a variety of verticals such as retail, energy, healthcare, entertainment and manufacturing.

To learn more about how MDM can enhance your product data quality strategy, read more in the Gartner newsletter on the Business Value of Master Data Management for Product Data, featuring Gartner’s Magic Quadrant.