{"id":168,"date":"2011-09-08T14:39:49","date_gmt":"2011-09-08T14:39:49","guid":{"rendered":"http:\/\/www.peeriosity.com\/articles\/?p=168"},"modified":"2022-04-06T21:48:17","modified_gmt":"2022-04-06T21:48:17","slug":"global-management-of-master-data-in-shared-services-2","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2011\/09\/global-management-of-master-data-in-shared-services-2\/","title":{"rendered":"Global Management of Master Data in Shared Services"},"content":{"rendered":"

\u201cIf our master data is wrong or inconsistent, it can lead to major issues that may not be easily identified or rectified, including errors in reporting<\/a>.\u00a0 We must have strong controls and governance over all of our master data.\u201d This quote can be attributed to almost any CFO.<\/p>\n

On a recent Peeriosity webcast, member companies discussed best practices related to master data management. Our lead presentation member described to their peers how, as part of their SAP implementation a few years ago, they completely cleansed and standardized their master data, as well as created a Global Data Team within their Shared Services organization<\/a>.<\/p>\n

Prior to the webcast, Peeriosity members indicated where within their organizations master data management took place. Clearly, locating the governance role in Shared Services<\/a> has emerged as a best practice.<\/p>\n

\"primary<\/p>\n

However, many have not yet considered global management nor the scope of master data that our feature presenter had achieved. In addition to the common customer and vendor master management, the team covers all products, materials (and BOM creation), and customer pricing, as well as a series of other data services such as trade compliance.<\/p>\n

The team has a variety of objectives:<\/p>\n