Press release
Finance Efficiency and AI Success Start With Data Quality: Hackett Reveals Top Master Data Management (MDM) Providers
Report finds leading MDM technologies improve data standards that enable finance organizations to increase staff productivity (3X) and reduce finance costs
About this update from The Hackett Group, Inc.
[{"type":"text","content":"\nReport finds leading MDM technologies improve data standards that enable finance organizations to increase staff productivity (3X) and reduce finance costs (45%)\n\n MIAMI--(BUSINESS WIRE)--\nThe Hackett Group, Inc. (NASDAQ: HCKT), a leading generative artificial intelligence (Gen AI) strategic consultancy and executive advisory firm, has released its latest Digital World Class® Matrix, focusing on the MDM software marketplace. The report reveals leading vendors in the space and examines the critical relationship between Gen AI and MDM and governance.\n\nImproving data standards has a transformational impact on finance organizations, driving a 3X increase in staff productivity and a 45% decrease in finance costs – critical efficiencies because finance leaders are increasingly being asked to do more with less. At the same time, these leaders are also being tasked with spearheading their organizations’ digital transformations, which now largely focus on leveraging AI-enabled technologies. However, leading organizations are quickly realizing that data quality is a key requisite to maximizing the benefits of AI. Likewise, high-quality data is critical for lagging organizations striving to establish excellence in their transactional processes. All of these factors create a compelling business case for investing in solutions that enable data standardization.\n\nThe Master Data Management Digital World Class® Matrix provides an in-depth guide to the leading software providers and the impact of their solutions on companies’ operations, generating accurate transactions, preventing fraud and improving revenue assurance. The report evaluated 16 software vendors for their capabilities and the value delivered to clients based on vendor briefings and customer data input across 26 different value criteria.\n\nThe report evaluates MDM vendors based on their capabilities and value realization. Capability ratings assess a vendor’s capacity to enable effective governance and management of critical data domains – including customer, supplier, product, and employee through core functions like data modeling, acquisition/integration, quality, security, user interface, and analytics.\n\nValue realization ratings measure vendors’ impact on key MDM performance metrics such as data accuracy, record creation speed, issue resolution and overall user adopt...