It can be challenging for Finance organizations to manage their disparate systems—accounting, treasury, consolidation, reporting—when there is no single, comprehensive "master" view of data assets. This lack of control over data can lead to inefficiency, inconsistencies, the potential risk of regulatory non-compliance and misinformed decision-making. As organizations extend into new markets and across geographies, their finance master data must be able to accommodate additional legal and reporting demands and to manage assets with agility to meet new regulatory requirements.
Using TIBCO EBX® software, Apgar Consulting created MDM Finance, a turnkey solution that uses finance master data models (chart of accounts, profit & cost centers, GL accounts) that can flexibly adapt to unique organizational processes and systems. The MDM Finance solution enables customization and governance of master data objects and fuels critical business systems (ERPs and others) with harmonized, consistent, and trustworthy master data.
Finance departments can maintain data consistency and manage use of local, global, and corporate master data across systems; control data distribution; and govern from a single resource. The system builds trust and accuracy in data throughout the organization, and configurable workflows separate master data change and approval duties and provide a complete history of audit trails showing changes.