A global professional services and audit firm providing assurance, tax planning and compliance, and consulting services
Key Challenges
The company sought a robust Master Data Management (MDM) system to manage enterprise data. The existing decentralized data framework provided client, people and corporate information to stakeholders. However, it diluted the quality of data, which affected the ability to take business decisions. In addition, each region functioned as a standalone entity without unified information management.
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Benefits
Real-time batch subscription and contribution
The Infosys team defined an integrated architectural landscape and designed an MDM solution for decision-making as well as back office functions, including taxation, treasury and internal audit, supported by reliable data.
Our team analyzed the business landscape and proposed a phased MDM approach: establish core data and data profiles, validate data and de-duplicate data, generate and publish master data, and implement data governance models. The Infosys MDM strategy facilitated information sharing across domains, territories and network applications. Our solution aggregated and stored data from internal sources and external data providers via batch loads. It helped build the master 'golden' entity record for client-facing teams and risk managers.
The Infosys master data management solution enabled real-time batch subscription and contribution. We provided a mechanism for unique identification of entities. It improved the quality and accuracy of data at the network level. We undertook root cause analysis to improve data flow and avoid bottlenecks. We implemented search and real-time notification features and aligned the MDM solution with centralized information systems. We enabled batch consumption of master data and multi-lingual operations support for the MDM application.
Our solution has been rolled out in 20 markets. Streamlined information management enables reliable financial reporting. Cross-territory visibility into data and integration of the single source of entity data with local business process work in tandem to ensure prompt and informed decisions across the global network.
Automated adjudication of data discrepancies ensures smooth data updates, while distributed ownership of data reduces time and effort for routine tasks such as client onboarding. An intuitive user interface reduced service inquiries and improved productivity by 5%. Our application will be integrated with Engagement Lifecycle Management (ELM) systems to enhance client relationship management.
