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.
Benefits Of Reference Data Management
Reduced Operational Risk
Standard and governed processes with full traceability around reference data and scheduled system synchronization
Faster time to market. Improved turnaround for reference data entry
Reduced IT effort and reliance, reducing overhead costs, avoidance of regulatory fines
Providing contextual value, with the ability to drive business logic that helps execute a business process
Adastra has a wealth of experience designing and implementing vigorous reference data management strategies, following these best practices:
- Establishing a single centralized point of data entry with collaborative management
- Configurable workflow processes
- permission-based security for CRUD (Create, Read, Update, Delete) lifecycle
- Historical reference data management with versioning
- Relationship and hierarchy management
- Reference data mapping across systems
- Data quality rules for standardization, deduplication and exception management
- Audit capabilities with user activity tracking
- Functional synchronization to upstream and downstream applications
- 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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