Master Data Management is a process that will manage data held by your Company (i.e. Customer, Suppliers, Lead’s etc) and will provide a single point of reference, or a Master Record as we call it here at clearMDM. If you are using multiple systems to record and store this information, before long you will have multiple databases to manage, more than likely duplicate records, out of date information, conflicting information…the list goes on. Having a Master Data Management tool in place that can manage this process provides so many benefits to not just the Company but also to the employees. How many times have your Sales or Marketing team contacted a customer only to find out the information they have available is no longer valid?
Let’s have a look at some of the people who would benefit from this:
The Sales Team – As already mentioned, how many times has someone within the sales team complained the information they have is out of date, or they rang to speak to Miss Smith who is now Mrs Jones and she updated her details with the company months ago. It causes embarrassment to the employee and irritation to the customer.
The Marketing Team – Money and time is spent putting together marketing campaigns which could be email orientated or mail related, to find returned post ‘no longer at this address’ or ‘this email no longer exists’ messages. For the employee it’s frustrating for the company it’s expensive.
The Product Team – Your company may need to contact suppliers critical to the business operation. It’s crucial the supplier’s information is correct. If they find two records with similar information, except the telephone numbers are different, how do they know which is the correct one except from calling the numbers.
The Management – Reporting to the senior management team is a weekly sometimes daily occurrence. If there are inconsistencies with reports or actually incorrect information being offered due to duplicate records etc, how does the management know they can trust their team?
Hopefully it’s clearer how Master Data Management can enhance your employees and client’s interactions which in turn will improve your Company reputation.
Drop us a line at hello@clearMDM.com to find out more.