Centralized Customer MDM supporting Transactional use
With the Pretectum CMDM, one of the most optimal ways to approach customer master data management is in a centrally governed way, adopting a centralized customer MDM approach.
Here the Customer MDM Hub is both a system of reference and a system of entry – it can update and receive all necessary data updates from any and all backend systems, including transaction confirmation systems, by making use of APIs.
From within the centralized Pretectum CMDM, you have access to schema master data definitions, including data domains for reference and lookups, and then whatever subordinate datasets that make full or partial use of those definitions.
You also have the ability to have derivatives of existing data and permission-based access.
Forms are available for manual data curation and bulk replacement and appends are also possible. Most importantly, you can do everything through a rich browser-based cloud UI or you can use API-based methods.
All customer master data creation and curation, including transaction confirmations, are managed from the Pretectum CMDM hub, and satellite systems outside no longer need to be able to create or amend the master, instead, they can subscribe to syndicated data from the CMDM for any new records or updates.
As suggested by many in the industry, the centralized MDM is the ideal implementation but also the most challenging since it requires discipline and a change in the data ownership philosophy of a given organization.
You might often see the implementation of a centralized Customer MDM as part of a digital transformation initiative.
Advantages of Centralized Customer MDM for Transaction Confirmations
- Provides a single authoritative source of truth for customer master data, including transaction confirmations
- Enabled real-time updates and access to transaction confirmations across the organization
- Allowances for consistent data governance policies to be applied to transaction confirmations
- Facilitation of collaboration between departments like finance, sales, and customer service on transaction data
- Support for advanced analytics on transaction data for insights into customer behavior and preferences
By leveraging Pretectum’s centralized customer MDM approach, organizations can streamline transaction confirmation processes, ensure data accuracy and consistency, and gain valuable insights to enhance the customer experience and drive business growth.
The platform’s flexibility to integrate with existing systems via APIs makes it easy to incorporate transaction confirmations into the overall customer master data management strategy