Master Data Management (MDM) can be a game-changer for your organization. Yet some companies delay their implementation because they fear disruption.
In truth, MDM does cause disruption. But if you understand the potential pitfalls and prepare accordingly, MDM will create a positive disruption for your business.
So, what should you evaluate before starting your MDM or Product Information Management (PIM) implementation? Here are three top factors to consider.
Do you have input from relevant stakeholders across the business?
When IT spearheads an MDM or PIM project from the beginning, there’s often a disconnect between what the business needs and the ultimate direction of the project. If you wait to involve business stakeholders until late in the process, you’ll lose out on their invaluable perspective. And the last thing you want is to have the Business step in after weeks of preparation, only to find out that the platform was configured without capabilities they deem necessary.
How can you ensure you get the right input? Consider these steps:
At the start of the project, gather key stakeholders from all relevant areas to provide their input. Listen to their concerns, pain points, and hopes for improvements.
During the implementation process, have stakeholders collaborate directly with your project consultants. That way, crucial capabilities and use cases aren’t overlooked.
If possible, establish a steering committee and schedule regular meetings with project leaders across the organization.
When all key team members have input from the beginning of the process, you’ll save time, achieve faster ROI, and have a more seamless launch.
Do you have data readiness and team readiness?
Many companies underestimate the work (and proven processes) needed to get data ready for the MDM or PIM system. That’s another area where an expert can help. An MDM consultant can help you organize your data cleansing processes, so your data quality is sufficient for the system.