Organizations today are pressed to close their books and reconcile the status of the enterprise as quickly as possible. Diverse reporting views are required to make necessary operational and financial decisions, and sound decision-making can only take place when everyone in the organization is operating under the same set of facts.
Inaccuracy or delays in the process can result in top management not being able to make strategic business decisions or making decisions based on questionable data.
Can you trust your data? To evaluate your organization’s vulnerability to data quality issues, take a step back and ask the following questions...
- Is your organization struggling with a large volume of report reconciliation?
- Are the same pieces of key data (e.g. customers, products) being entered manually in a variety of places?
- Are you seeing major differences in departmental reporting that are caused by temporal issues?
- Do key metadata definitions lack visibility (i.e. are they contained in spreadsheets throughout the organization)?
- Are pieces of common data housed in multiple systems with different metadata?
- Are changes made without any audit (who, when, where, why)?
- Do various groups in the enterprise have different business rules/processes for the same piece of key master data?
- Is hierarchy management a challenge?
- Is consolidation reporting difficult because different units of the organization have different ledgers?
- Is your organization’s change management process failing to ensure that everyone who needs to be notified of changes is notified?
- Is your organization considering a large financial redesign project?
- Have mergers or acquisitions introduced new challenges with regulatory reporting?
- Do you have multiple Oracle Hyperion products that use common data?
- Are you struggling with integrating common master data required for your cloud and on-premises systems?
If you found yourself repeating “yes” or cringing at challenges that hit a little too close to home, you’re not alone. That’s why the Oracle Hyperion Data Relationship Management (DRM) suite of products exists — to organize siloed data across the enterprise and transform it into timely, accurate, and consistent master data.
With this sophisticated tool and a data governance workflow to manage your organizational changes, you can…
- Save time and resources spent reconciling reports and measures across business units
- Reduce or eliminate errors in data flow between operational and analytical systems
- Maintain data integrity across divisions and systems
- Empower users to easily make data changes based on their role or responsibility
- Minimize manual IT data maintenance tasks
- Ensure consistent corporate definitions and metrics
Wondering where to start tackling data quality issues? Contact us to request a free customized roadmap from the most experienced data governance team in the country.