How data stewardship turns MDM into a process you can trust
Diversity is an important indication of a healthy supply chain. Companies are realizing that by demonstrating ethical compliance, they experience better financial health and contribute to a thriving national economy. But diversity indicators are difficult to measure and track.
Our client, a large multinational organization, struggled to track their supplier diversity, which is mandatory for reporting on government contracts. Dun & Bradstreet and other third-party vendors could supply the data, but match rates were low and the business didn’t have confidence in the mastering process. When you don’t trust the data you’re looking at, it’s difficult to use it confidently to make business decisions. They needed to integrate multiple lines of business while maintaining fine-grained control over enrichment and monitoring, but traditional MDM just wasn’t returning results that were up to their standards.
We partnered closely with their application and quality team to completely integrate Matchbook AI into their systems within three months. Together we processed over 150,000 supplier records instantly upon going live. Today, data stewardship tools within the Matchbook portal give their supplier insights teams continuous control over matching that far exceeds previous batch processing. They are now working with an automated match rate of 8, up from a 5 in their previous processes. The high degree of fidelity and trust in the data transformed their business units’ ability to make decisions and report on the health of their supply chain.
Create a Data Set You Can Trust
A high match rate means nothing if you can’t trust your data. Matchbook gives you control over your matching, delivers custom enrichment packets, and then monitors the data 24/7 for changes.
Integrating MDM A lesson in manual mastering
Our client, a Fortune 100 company, struggled to harmonize the integrity of data from multiple subsidiaries, spanning medical devices, pharmaceutical, and consumer-packaged goods. To use the D&B D-U-NS number as their own global key, they needed to execute resource-intensive integrations and manual processing. Nothing was easy. Master Data Management can get political. Individual business units within the project were attempting to match with DUNS on their own and were unwilling to cede control of their data points. This, coupled with differing enrichment requirements, created huge risk of time and budget overruns.
This company was faced with a “build it or buy it” dilemma. Do they spend a year or more building the integration functionality only to have the requirements change and priorities shift, or do they buy a solution that can give them the functionality they need?
Matchbook AI delivered a plug and play solution they could easily integrate into each of their applications. With team-based data stewardship functionality, they can empower each business unit to match and enrich their own data.
Use the Right Tool For the Right Job
Giving up data control is daunting. Matchbook facilitates the flow of data from all the integration points in a bottom up approach that empowers the stakeholders who are most familiar with the data through our comprehensive data stewardship toolbox.