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Although master data management is not a new idea, the concept of enhanced reporting and analytics for improved business insights continues to gain strength.
If they haven’t already, many businesses will soon be making significant investments in master data, reporting and analytics designed to improve their knowledge of customers; re-position their products in the market; drive more profitable sales; better manage their resources; and ultimately deliver better financial performance. At present, however, these investments typically are done at the independent function or business unit level—rather than in a holistic, enterprise-wide fashion.
In this paper, Accenture examines how establishing master data, reporting and analytics capabilities within a single integrated business services organization can address five of the most common challenges faced by organizations that currently have these capabilities spread across functions and business units.
Many shared services organizations are under increasing pressure to provide higher-order services that can deliver more strategic value for the business. In fact, Accenture has seen a rising interest in the further evolution of shared services to the integrated business services model, which can deliver higher-value services on an enterprise-wide basis in a consistent, high-quality and cost competitive manner.
Accenture has examined how establishing master data, reporting and analytics capabilities within a single integrated business services (IBS) organization can address five of the most common challenges faced by organizations that currently have these capabilities spread across functions and business units.
The five challenges and how IBS can address these:
Challenge 1—Building consistency in data structures and centralizing quality management.
How IBS can helpEstablishing master data, reporting and analytics as a service within the IBS organization can mean that there is a single owner of the governance and management of the data across the enterprise.
Challenge 2—Meeting the evolving analytical needs of the business.
How IBS can helpThe combination of governance, consistent data structures across entities and a dedicated team whose skills range from transactional data management to higher-order analysis can mean that IBS provides the timely information and insight that leadership teams desire to make decisions designed to keep them ahead of the competition and out of harm’s way.
Challenge 3—Developing cross-functional, data-driven insight.
How IBS can helpIBS enables the organization to provide common, shared and standardized reports and derive genuine business insight and take action on it.
Challenge 4—Providing career paths for master data, reporting and analytics resources.
How IBS can helpIBS has the ability to provide relevant training and career progression possibilities through a variety of roles—including management positions.
Challenge 5—Maximizing master data, reporting and analytics technology investments.
How IBS can helpIBS enables the company as a whole to benefit from smarter, big-picture investments designed to promote a consistent architecture, built to meet end-to-end business requirements.
Leading organizations are often realizing the significant value that can come from leveraging the right sourcing and governance model to create an enterprise-wide master data, reporting and analytics capability. Such a capability can support the organization and each of its business units in outmaneuvering and outperforming its competitors.
Just as finance, IT, sales, marketing and human resources have often brought together the non-core activities from around the enterprise, Accenture sees considerable potential value ahead for organizations that provide master data, reporting and analytics capabilities as a service within the integrated business services (IBS) organization.
The efficiencies in people, process and technology alone could build a stand-alone business case for providing master data, reporting and analytics capabilities within the IBS organization. But even greater value may come from this service, as it can provide much-needed insight that can directly improve both the effectiveness and overall business outcomes of the company.
In fact, Accenture has already seen clients across industries achieve value through the insights that have come from providing master data, reporting and analytics services within the IBS organization.
As organizations continue to focus on developing data-driven business insight, master data, reporting and analytics can be a prime target to be delivered as a service via the integrated business services (IBS) organization. By embedding this capability within the IBS organization and offering it as a service, companies can put data governance, quality and standards into the hands of an organization that can continue to drive efficiencies, improve processes, innovate their services and ensure consistency in data and analytics.
It can provide a career path for master data, reporting and analytics resources, which can benefit both the individual as well as the organization. More critically, it can push the organization toward the often desired but elusive “one version of the truth” across businesses and functions which, when coupled with third party data, can become the foundation for accelerating insights that can help today’s leaders answer their analytics questions in an effort to outmanoeuvre and outperform their competitors.
December 20, 2012
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