{"id":2376,"date":"2015-10-15T13:38:30","date_gmt":"2015-10-15T13:38:30","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=2376"},"modified":"2022-08-04T11:21:07","modified_gmt":"2022-08-04T11:21:07","slug":"transitioning-the-master-data-management-function-to-shared-services","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2015\/10\/transitioning-the-master-data-management-function-to-shared-services\/","title":{"rendered":"Transitioning the Master Data Management Function to Shared Services"},"content":{"rendered":"

The move to Shared Services for many large companies with multiple locations and business units has provided tangible benefits that go well beyond cost savings, with improvements to the accuracy and efficiency of many related work processes.\u00a0 As Shared Services organizations<\/a> have increased the scope of their services, they are increasingly including processes that are most critical to the business, including overall responsibility for Master Data Management; the DNA of a business that provides structure to identify customers, suppliers, locations, hierarchies, and chart of accounts.\u00a0<\/span><\/p>\n

Recently a PeercastTM<\/sup> featured a global manufacturing and retail company on the topic of \u201cTransitioning the Master Data Management Function to Shared Services\u201d.\u00a0 With manufacturing taking place in over 20 countries, and with sales in over 120 countries, having master data that was consistent and accurate across the enterprise was increasingly important.<\/span><\/p>\n

Prior to implementing Global Data Administration, the featured company experienced multiple pain points, including unit of measure errors when changes weren\u2019t effectively coordinated between business units, logic errors in EDI mappings delaying invoices and impacting cash flow<\/a>, under-billing of customers, inaccurate customer shipments, and inconsistencies in financial reporting between business units.\u00a0<\/span><\/p>\n

Creating a global process wasn\u2019t easy.\u00a0 Implementation challenges cited by our feature company included:<\/span><\/p>\n