Convert data assets into smarter decisions
with Master Data Management
Data is the common thread – and invaluable asset – that weaves through AP, procurement, legal, finance, and all other areas of an organization. Those who turn it into leverageable intelligence gain a distinct competitive advantage. The key to unlocking the power is Master Data Management (MDM). It provides robust, configurable capabilities for your specific industry needs to make mastering data simpler and more impactful.
Master Supplier Repository
The more suppliers, procurement projects, and sourcing events you have, the more data complexity you have. Advanced supplier modeling and information management provides efficiency, accuracy, and risk management based on specific requirements.
- Use Corcentric as the primary supplier master for supplier data across your enterprise
- Capture supplier information in one place to capture evolving supplier data elements (e.g., tagging high risk suppliers, meet third party regulatory compliance)
- Approve changes that automatically sync across supplier tables in ERP and other legacy systems
Affiliated Supplier, Product
Data, and Meta Data
Managing all the information around your suppliers can be a challenge without one place to manage them. The Core Framework allows you to manage and tag supplier related data as part of wider data management requirements.
- Centralize all your supplier certification types and rules and manage them back to your suppliers
- Track supplier related documents back to contracts
- Track product and service codes for establishing an item master
- Manage master category structures related to category taxonomy and supplier catalogs
- Create a master listing of tags for critical data elements and record types like catalogs and contracts
- Establish a centralized repository of meta-variables that tie back to supplier questionnaires for supplier onboarding and sourcing engagement
Related Source-to-Pay Resources
The CFO’s Balance Sheet Health Check
Building an Effective Procurement Organization
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