Governance

Reference Data Management

Classify and categorize your information to provide context across the enterprise and ensure data consistency.

Providing Context To Your Data and Decisions

Managing sophisticated mappings between different reference data representations and hierarchies allows for inter-system communication. If your data is inconsistent, incomplete, or duplicate, your information will lack the integrity needed to extract valuable insights.  

RDM maintains accurate, consistent, and standard reference data across the organization. Instead of individual users, departments, or business units using their data and data sources, often leading to conflicting conclusions, the RDM aligns the processes creating, maintaining, and using the information. With consistent and shared information, the organization can focus on executing business decisions.

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Benefits Of Reference Data Management

Reduced Operational Risk

Standard and governed processes with full traceability around reference data and scheduled system synchronization

Time Savings

Faster time to market. Improved turnaround for reference data entry

Cost Savings

Reduced IT effort and reliance, reducing overhead costs, avoidance of regulatory fines

Context

Providing contextual value, with the ability to drive business logic that helps execute a business process

Best Practices

Adastra has a wealth of experience designing and implementing vigorous reference data management strategies, following these best practices: 

  1. Establishing a single centralized point of data entry with collaborative management 
  2. Configurable workflow processes
  3. permission-based security for CRUD (Create, Read, Update, Delete) lifecycle 
  4. Historical reference data management with versioning
  5. Relationship and hierarchy management 
  6. Reference data mapping across systems 
  7. Data quality rules for standardization, deduplication and exception management 
  8. Audit capabilities with user activity tracking 
  9. Functional synchronization to upstream and downstream applications 
  10.  Notification processes for stakeholder engagement 

Request a free discovery to meet with our experts so we can determine the scope and implementation strategy of your RDM Strategy and begin implementing tomorrow!

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Thank you

We will contact you as soon as possible.

Rahim Hajee

Director and Governance Practice Lead

Rahim Hajee

Krasen Paskalev

SVP Delivery and Practice Management

Krasen Paskalev

Mark Kohout

Practice Lead, Governance and Digital Transformation

Mark Kohout

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