The Gartner Market Guide for MDM External Service Providers is out, providing fresh insight into the role External Services Providers (ESPs) play in the master data management journey.1 Amplifi is proud to be included in this year’s guide showcasing the expanded capabilities and expertise gained through the Comma Group acquisition!
The 2021 ESP Market Guide is packed with great tips for evaluating and partnering with an external service provider to get the most from your MDM implementation.
In this article, we’re recapping a few key takeaways, including why Amplifi stands out.
New Urgency Around MDM
In 2020, companies across industries saw the value of a strong data management program — and what they risk by not having one.
According to the Market Guide, “the COVID-19 pandemic highlighted just how reliant organizations are on data — more specifically, trusted master data — to enable them not only to meet existing risk, revenue and cost objectives, but also to steer the business during tumultuous periods.”
Although MDM transitioned from “reluctant to indispensable spend,” Gartner predicts that 75% of MDM programs will fail to meet their desired business outcomes through 2025.
Because MDM is high risk, high reward, Gartner notes that it’s a “natural trigger” to seek third-party expertise
ESPs Help Steer the Ship
Organizations often veer off course when they approach MDM as a technology initiative. Gartner notes that these companies lack “sufficient focus on the people and process dependencies of MDM.”
To tackle people, process, and technology, companies should look for an ESP that covers MDM strategy, implementation, and ongoing support.
This breadth of expertise is an area where Amplifi stands out.
In referencing Amplifi, Gartner notes, “Strategy, implementation and managed services are offered to clients across one of the broadest range of industries covered by a vendor in this guide — led by a continued focus on retail, manufacturing and distribution.”
MDM is Ripe for Modernization
Yes, urgency is amplifying the need for MDM. But Gartner points out that there’s another driver in play: “Transitions to cloud-based offerings and modernization of legacy MDM platforms are contributing to demand for external services.”
Companies that were previously priced out of MDM now see the opportunity to take advantage of more flexible options. Multi-domain MDM is also accelerating, as companies seek better business intelligence by connecting data across products, customers, suppliers, and beyond.
Gartner illustrated Amplifi’s strength in this area, saying, “Cloud migrations, managed services uptake, multidomain expansions and peaked interest in PIM (courtesy of the pandemic) provided growth opportunities for Amplifi in 2020.”
A Challenging Market
Even when organizations realize their need for an ESP, finding one that truly delivers value can be difficult. Gartner notes the challenge of finding a vendor that’s skilled and suited for your business or industry.
Look for a provider with platform expertise, a proven implementation and optimization strategy, and specialists who can guide you through the process.
And for international companies, an ESP with a global presence can help you bridge the geographical (and often cultural) gap between your teams to ensure a smooth MDM implementation and ongoing service.
The Right ESP Makes All the Difference
As Gartner states, “Strategy services can mean the difference between the success and failure of an MDM program.”
With Amplifi’s MDM expertise, breadth of capabilities, and global presence (courtesy of our recent Comma Group acquisition), we’re uniquely positioned to deliver crucial MDM implementation and consulting to companies across a wide range of industries.
To learn more about how we can make a difference along your data management journey, contact us here.
1All Gartner quotes in this article are referenced to:
Parker, Sally and Radhakrishnan, Divya, Market Guide for MDM External Service Providers, Gartner, July 13, 2021.