Published By: Datavail
Published Date: Nov 03, 2017
The management of financial data in an organization is of paramount importance. Reporting, evaluating ROI, making adjustments across the business, and increasing revenue depend on good, accessible financial data that can be updated and integrated across systems and software.
For these reasons, many organizations have turned to master data management (MDM) software in the effort to better store, access, search, retrieve, and analyze their financial data. These MDM solutions are able to collect data within a single unified, fully integrated, user-friendly platform. However, in order to be most effective, MDM applications must also have capabilities in data relationship management (DRM). DRM software is able to describe and enforce the relationships between data, no matter where it's located within an organization, to provide a holistic and consistent solution.