Masterdata refers to fundamental information used across an organization. When data comes from different sources, challenges such as duplicates and differing definitions of identical products/information can arise. Therefore, it's crucial to have control over master data management to ensure everyone has access to accurate and consistent information within the organization.

That's precisely what Multi Entity Management provides - our extension to Microsoft Dynamics 365 Business Central allows you to create synergy across your entities. Multi Entity Management is integrated with Microsoft Dynamics, enabling you to experience optimized business processes and much higher efficiency in managing your masterdata.

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In a company's complex ecosystem, master data, also known as reference data, plays a crucial role. Basic information about customers forms the core of business processes such as procurement, logistics, sales, marketing, finance, and HR. To ensure smooth and efficient operations, it is essential to implement management and control of master data so that the information is always updated and synchronized.

Today, companies rely on multiple systems and platforms to conduct their business. Problems typically arise if these systems are not properly integrated. This results in multiple versions of the same information, leading to outdated, inconsistent, and incomplete data that requires significant manual cleanup.

Poor data management not only causes internal complications but also affects external stakeholders such as customers, suppliers, and partners. Errors such as lost orders, billing issues, and incorrect deliveries undermine credibility and ultimately result in fewer customers in the store.

Data Governance is a set of rules within master data management. It's a crucial discipline within master data management, focusing on establishing guidelines and responsibilities for the governance, control, and quality assurance of master data. This practice ensures that the company has clear processes for collecting, updating, and sharing master data.

By implementing effective Data Governance, the foundation for reliable and consistent master data is strengthened, which is crucial for successful master data management. An effective Data Governance strategy facilitates coordinated and systematic oversight of data-related decisions across the organization. By addressing risks associated with data, Data Governance ensures confidentiality, integrity, and availability of information. At the same time, it creates transparency around data administration, producers, and users.

Ensuring high data quality comes with a variety of challenges. However, the primary cause of most errors is human-related and often stems from too many manual processes.

Therefore, it is important to improve your data quality and correct existing errors to prevent building upon a mistake in the future. This way, you can proactively address data quality issues from the outset. If your organization lacks clear data entry guidelines, it is crucial to review and update these guidelines and adjust the systems accordingly.

Similar to the work in master data management, maintaining data quality is not a one-time task but should be a task you revisit and prioritize consistently.

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Lars Rønde

Product Manager

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