MDM Benefits by RoleInternet Database Management ServicesUpdated on Oct 7, 2014 View more like this | Visit RARITAN, NJ | Contact SynapZen |
MDM Benefits by Role
A 360 degree enterprise view of Customers, Contacts, Products, Vendors and Employees provides enormous benefits to every department within an organization. Here are few key benefits realized by companies implementing an MDM solution.
Marketing
• Accurate and updated marketing lists ensure successful delivery of your marketing message. SynapZen's MDM ensures all internal and external source data is used to create a 360 degree unified customer profile.
• Enriched marketing lists provide a means to utilize all marketing channels (mail, email, SMS, social media, etc.)
• Target right customers with a message that makes the most impact. Make the most out of cross-sell and up-sell marketing campaigns.
• React to real-time customer participation. For example, initiate sales calls at the point a customer clicks on a link in your email, SMS or Facebook post.
Sales
• Provide the most up-to-date and accurate enterprise-wide 360 degree view of customer contact information to your sales team. Improve operational efficiency by reducing calls to wrong numbers, inactive or closed businesses, etc.
• Enrich your data using a variety of sources for example, Google, LinkedIn, Facebook, Twitter, etc. Provide multiple ways for your sales team to reach out to customers.
• A 360 degree view of customer data enables better targeting and a more focused sales message.
• Improve coordination and cooperation among various business divisions for example, Sales, Marketing, Operations, Support, etc. Retain your existing customers by providing excellent service to Gold customers.
• React to real-time customer action for example, initiate sales calls when a customer clicks on a link in your email, SMS or Facebook post.
CIO
• Reduce point-to-point integration among Legacy, Vendor product and Cloud applications. An MDM-based integration provides a hub & spoke approach, resulting in significant reduction of custom coding and point-to-point integration.
• Respond to changing business conditions in rapid and agile manner. An MDM solution will enable a holistic reporting platform, allowing a business to identify opportunities and challenges using the most advanced analytics. Such opportunities and/or challenges require agile response.
• Significant ease of deployment of newer applications, retirement of legacy systems, migration of data from one system to another and support for regulatory compliance efforts.
• Provide advanced tools to the Data Governance team in order to respond in a systematic and effective manner for resolving any Data / Information-related issues raised within the organization.
• Maximize Big-Data initiatives by linking vast amounts of information captured with enterprise master data.
Regulatory Compliance
• An MDM system provides the foundation for holistic reporting and compliance solutions. This is most essential when an organization has multiple divisions (as a result of M&A, etc.,) but need to report to regulatory agencies as a single unified entity.
• Ensure the most accurate and up-to-date information is submitted to regulatory agencies to avoid unnecessary back & forth investigative Q&A.
• Provide a complete audit trail and historical facts to answer any questions raised by regulatory agencies.
• Proactively monitor any threshold, for example spend limits or transaction amount limits, and start compliance processes ahead of time to ensure compliance.
Finance
• Analyze your customers and vendors in a holistic manner across various business divisions. This will provide an accurate revenue forecast of expenses. Accurately predict future business needs.
• Support business by supporting strategies such as increasing the top line through providing incentives based on a customer's historical revenue, or reduce the bottom line by evaluating a vendor's past performance.
• Reduce unnecessary costs in marketing, sales, operations and support by increasing overall cooperation and coordination.
• Proactively monitor any threshold, for example, vendor spending limits or customer purchases, and start appropriate verification and corrective processes ahead of time to ensure compliance.
• Create holistic and accurate financial statements.
Purchasing
• Get an accurate and up-to-date view of vendors, their offerings and capabilities.
• Consolidate vendors to reduce risk and increased cooperation.
• Support initiatives such as self-serve vendor portals, etc.
• Negotiate better rates or increased discounts from vendors.
