Last week at Informatica World, we announced a number of exciting master data management (MDM) capabilities that will help enable organizations provide faster time to value, a necessity in today’s competitive, digital economy.
A number of customers shared how they’re achieving success with Informatica Intelligent MDM. It’s refreshing to see how many are implementing MDM in as little as 14 weeks and realizing value by sharing consistent and trusted data across their teams.
Customers also spoke about how they are scaling their ESG program with reporting that consolidates “inclusive trade” flags from various intake systems. And how they are creating value in what would have formerly taken 20,000 human hours, without increasing a single full-time-equivalent (FTE).
One of my favorite learnings was from Girish Suravajhula, Business Systems Leader, Customer Experience at Uber Technologies, who shared how the company is transforming its data management to drive sales, customer value and revenue growth. The impact of linking customer data across all lines of business improved business functions throughout the organization. With an integrated data management solution, Uber improved business operations significantly, saved 80 to100 hours per month of manual work and launched a new business unit, Uber Ads, “really, really quickly” with a clean data foundation.
Informatica World: Intelligent MDM & 360 Application Announcements
During Informatica World, we premiered new multidomain MDM innovations that help increase simplicity and deliver rapid time to value.
To start, we added breakthrough enhancements to our all-in-one Informatica Intelligent MDM to provide data stewards with sophisticated data quality error reporting and remediation capabilities to enable unparalleled efficiency. Another new feature? Auto-generation of mappings that helps accelerate productivity and expedite time to impact.
Following are some other new capabilities unveiled at Informatica World that highlight flexibility, faster implementation and security, including:
- Informatica Intelligent MDM & 360 Applications on Google Cloud. (Available now): As more customers adopt cloud-first architectures to run their business, it’s important they have an option to choose the cloud environment for their multidomain MDM solution.
In addition to Microsoft Azure and Amazon Web Services (AWS), customers now can deploy Informatica Intelligent MDM and 360 Applications on Google Cloud. This will provide joint customers with a trusted, holistic view of their entire data environment across virtually all business domains, from customers, suppliers and products, to employees, locations and industry-specific assets.
- Legal entity extension for financial services. (Available now): The legal entity master extension for Customer 360 is the first cloud-native extension for the financial services industry. Specifically designed for our 360 applications, this extension offers pre-built content that extends horizontal solutions for a specific use case, industry or data source to accelerate implementations, resulting in much faster time to value. The legal entity extension comes with a comprehensive data model, Global Legal Entity Identifier Foundation (GLEIF) and Dun & Bradstreet enrichment, and a 360-degree view of legal entity and reports. This helps financial services organizations:
- Meet the demands of understanding legal entities, which can be highly complex
- Identify unique, unambiguous and persistent legal entities
- View accurate and aggregated risk exposure, including credit rating, country of risk, sanctions, etc.
- Support regulatory compliance requirements for regulations and authorities, such as Basel III, Solvency II, Foreign Account Tax Compliance Act (FATCA), Dodd-Frank legislation and U.S. Commodity Futures Trading commission (CFTC)
- Support customers in business processes like client onboarding, KYC data, etc., by sharing and identifying legal entities
- Customer managed key for encryption. (Available now): More secure than bring your own key (BYOK), control your own key (CYOK) enables organizations to control the lifecycle of the keys used to encrypt and safeguard data assets, and is especially valuable for enterprise customers.
CYOK empowers organizations to create and maintain possession of their key materials at all times. To accomplish this, envelope encryption generates an ephemeral key and significantly improves performance. This also means that you have full control over the lifecycle of the key and can revoke access or delete them at any time.
- ESG extension for supplier domain. (Available June 2023): We also announced the environmental, social and governance (ESG) extension for Supplier 360, which is the first extension for the supplier domain. Developed based on customer feedback, this will help organizations manage supply chain ESG risk, ESG ratings and compliance, and emissions data reporting and maintenance. This extension comes with a comprehensive data model and supports the attributes required for ESG for supplier domain, which includes:
- Supplier data model extension for ESG assessment and rating data
- Supplier emissions data for value chain emissions disclosure (scope 3)
- Dashboard and reports
- Data enrichment with third-party ESG data providers, such as Dun & Bradstreet
What’s Next in Informatica Intelligent MDM & 360 Applications?
We are committed to delivering the best innovations so you can make data-driven decisions that help you effectively compete in today’s evolving landscape. Below are two additional MDM features that are underway and will be available in the near future.
- Composable apps: For master data to be ubiquitous in every business transformation initiative, MDM must provide composable user interfaces for virtually every type of user across practically every type of business. Look for composable self-service applications for data stewards, line of business users and portal users, with rich capabilities for just about any use case.
- Master data governance: Because they are interrelated, the market is moving toward integrated MDM and data governance. Our vision is an end-to-end master data governance solution that will make it easier to link the rules and policies defined by the office of the CDO/CDAO.
Are You Ready for MDM Modernization?
While many of our customers have moved to our cloud-native MDM solution, we are still supporting on-premises and hosted solutions. In fact, work on the next release is underway. But when you are ready to transition to the cloud, we have you covered: Informatica offers an MDM modernization program that helps you move from hosted or on-premises to SaaS. It consists of best practices and tools and includes approved partners so your move to MDM as a service is as seamless as possible. Plus, you can make the switch quickly with our flexible consumption-based pricing so you pay only for services you use.
As a reminder, Informatica Intelligent MDM is powered by CLAIRE®, our AI engine, and includes all-in-one capabilities to help increase productivity and improve ROI. It has pre-built 360 applications on a multidomain foundation to master B2B and B2C customer, product, supplier and reference data domains — and flexibility to scale and extend into other domains. With this approach, you can address important business initiatives like customer experience, digital commerce, supply chain, finance data management and more.
Are you ready to accelerate your business initiatives, speed deployment and access 360-degree insights? Discover the next chapter of intelligent master data management now.
- In just four steps, find out how to get a 360-degree view of your customers, suppliers and more.
- Discover how to impact the customer experience and boost ROI with trusted data.
- Learn how the latest innovations can help you effectively compete in today’s market in the June 6 webinar, “Meet the Experts: Intelligent Multidomain MDM & 360 Applications.”