CUSTOMER MASTER DATA MANAGEMENT
Plugging gaps within the Customer Master Data Management (CMD) within ERPs today
In most companies, when changes to customer master data take place, collections has to stop until the changes have taken place. That technically means that the changes should be flagged as disputes on the account and most companies fail to record it as such. Value+ plugs gaps in the current way ERP’s manage customer master data changes and discrepancies in the following ways:-
- Tracking, Timely Completion and Transparency
- Ability for the logger of the CMD request to track progress of the request and specify who is doing the work
- SLAs are tracked and the CMD team is held accountable through escalation workflow for delays in completing their work which leads to unnecessary blocks on collections
- Clear Communication around the execution of a CMD activity to ensure all parties are included and updated in the completion of the change
- Reporting and Proactive Management
- Reports on these CMD queries can be generated automatically so the volume of CMD queries can be tracked
- Proactive management and prompting for Reviews on Customer Master Data which needs to happen on an annual basis to proceed with inactive customers account elimination / archiving / eliminate duplicates, archive old data
Value+ supports the creation and maintenance of complex hierarchical data structures across several ERP data sources
Value+ supports collections at both the Child tier and Parent tier. The Strategy Engine sends out the usual Reminders and Statements to Customers, and in addition the Strategy Engine creates Consolidated Statements for a Customer that is designated a ‘Parent’ together with a Follow Up call to prompt the Collector to call and discuss the Statement with the Contact of the Parent Customer.
Value+ supports the ability to send out Reminders and Statements in the usual way for all Customers, whilst simultaneously supporting the creation of Consolidated Statements and Follow Up calls for Parents.