What exactly is party data? I get asked that question surprisingly often and have found that many - even in the Master Data Management (MDM) space - are not completely familiar with the term "party". I am of course not referring to the good times had with friends but rather the way in which we can describe the master data domain that predominantly looks after individuals and organisations. In this blog post, I will try to clarify exactly what party data is and why it's important to master it.Read More
This blog post is a summary of our recent webinar “Digital disruption for Product Information Management” presented by Darren Cooper, Director of Industry Solutions, Stibo Systems. To get even more insight on this topic, hear the full webinar (30 minutes) on-demand, and for free, here.
It’s no surprise that product information managers’ jobs are getting a little more complicated these days. Products, offerings and services are becoming more complex to design, sell and monitor. For companies who want to support digital disruptive products and services, Product Information Management (PIM) processes will need to evolve quite significantly.Read More
Whether their customers are individuals or global enterprises, all industries now face a range of challenges and opportunities presented by a ‘digital-first’ world. As a consequence, traditional companies are looking for ways of complementing and differentiating their product-based business models with value-based services. A recent Frost & Sullivan estimation foresees that 70 percent of Fortune 500 companies are expected to develop new business models that provide product-as-a-service.Read More
“That which we call a rose, by any other name would smell as sweet…”
We take it for granted. When we call a friend in France, we automatically add the internationally recognised dialling code of 33. An entire orchestra is tuned to an A at 440 Hertz frequency. Even nature has its golden ratio for reference when designing the arrangement of petals in a flower.
There are many bits of reference information that are internationally recognised and in common usage – grocery bar codes, medical conditions, industry classifications and postcodes to name but a few. Some reference data can also be specific to just one sector, where it can support a unique business process or describe the configuration of an individual application.Read More
The annual company report. The weekly project management meeting. The current sales forecast.
Important decisions are made every day based on the content of such reports and documents. But where does the information that supports this content come from? How is it defined? Who says it’s appropriate to use and for what purpose?
It’s possible that you might not know how many people work for your company. It’s also possible that you might not be aware whether your regular employees have access to services that differ from those for contractors or volunteers. It’s worth considering how personal data is being used across the company for resourcing purposes, say, or to meet legal requirements or health and safety regulations.
The unique identification of a customer and the processing of complete, accurate and timely customer data are of vital importance in the corporate and investment banking service industry. However, many banks struggle to keep up with the changing demands and preferences of their corporate customers.
A recent survey found that 46% of corporate customers are less than satisfied with their banker’s ability to support new customer on-boarding with more than 60% of issues linked to accuracy, documentation and duration1; areas in which timely access to complete, accurate and insightful information is key. Banks wishing to identify growth opportunities by industry, by segment and by product find it challenging to support their relationship managers with reconciled information from across the entire business.
Have you ever run out of a prescription medicine while traveling and tried to present your home prescription to a pharmacy in another country? The ambiguity at an international level of how medicines are packaged, marketed, sold, consumed and dosed can sometimes hinder better healthcare. Indeed, consider a medicine that might be recorded as having an adverse effect in one country and needs to be uniquely identified in other countries for the management of its recall.