Companies need accurate information about suppliers, customers, products, and services to excel in business, innovate, increase revenue and maintain competitive edge. Accuracy and availability of the information across systems helps clients analyze market and capacity to tap market potential.
By implementing proper MDM solutions companies achieve reduced operational cost by collaborating within the company and with the business partners through single data repository. Increase in revenue is achieved from improved channel management, higher customer interactions and improved control on the value chain by maintaining single source of informationa. k.a ‘Single Source of Truth’.