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 (
Improving data standards has a transformational impact on finance organizations, driving a 3X increase in staff productivity and a
The 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.
The 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.
Value realization ratings measure vendors’ impact on key MDM performance metrics such as data accuracy, record creation speed, issue resolution and overall user adoption. Among end users assessed,
Top vendors are excelling in the top three stated software selection objectives: improved data accuracy and consistency, increased operational efficiency, and enhanced decision-making. Leading solutions offer intuitive data modeling with intelligent data integration, along with key functionality of data match/merge, enrichment and deduplication. Select vendors are excelling with data security/privacy and delivering real-time dashboards.
All vendors are integrating AI into their platforms, including natural language interaction, automated data management and low-code/no-code development. Gen AI specifically enhances data accuracy by identifying and correcting errors while automating reconciliation. AI technology provides intelligent recommendations for data stewards, allowing them to focus on strategic tasks rather than repetitive data management activities.
“Organizations are rapidly learning that to fully exploit Gen AI-enabled applications, they must be fueled by timely and accurate data,” said Bryan DeGraw, associate principal and senior research director for Finance Market Intelligence at The Hackett Group. “Early adopters of MDM platforms are realizing significant improvements in critical process metrics such as time to create new records, data integration accuracy and deduplication. The benefits of MDM software are quickly realized in transactional processes such as order processing, customer billings, supplier payments and general accounting. Benefits continue to be achieved through improved forecast accuracy, reports and predictive analytics.”
By using this comprehensive analysis, functional professionals in finance, procurement, information technology, and human resources can make informed purchasing decisions aligned with the strategic priorities and critical metrics they seek to impact through improved master data governance and management.
MDM Digital World Class® assessments are part of The Hackett Group’s full 68-page report. The assessments should be read in the context of the entire report. A 33-page MDM Digital World Class® Matrix Report summary report is also available complimentary with registration. Inquiries about purchasing the full MDM Digital World Class® Matrix report can be made by visiting our Market Intelligence webpage.
The Hackett Group does not endorse any participant, vendor, product or service depicted in its research. This research should not be considered as advice that a buyer select only those participants based on their ranking or position on The Hackett Group’s Digital World Class® Matrix. You should not rely upon any material or information within this research as a basis for making any business, legal, financial or any other decisions. Any such reliance shall be solely at buyer’s risk. The Hackett Group research publications consist of the opinions of its research organization and should not be interpreted as factual statements. To the fullest extent permitted by law, The Hackett Group disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability, suitability or fitness for a particular purpose. The information contained in this research is provided on an “as-is” basis with no guarantees of completeness, accuracy, usefulness or timeliness. The Hackett Group assumes no responsibility or liability for damages of any kind arising from any information, data, content, materials, or references within its research, including but not limited to direct, indirect, incidental, consequential, special, and punitive damages.
About The Hackett Group
The Hackett Group, Inc. (NASDAQ: HCKT) is an IP and platform-based, Gen AI strategic consulting and executive advisory firm that enables Digital World Class® performance. Using AI XPLR™ and ZBrain™ – our ideation through implementation platforms – our experienced professionals help organizations realize the power of Gen AI and achieve quantifiable, breakthrough results, allowing us to be key architects of their Gen AI journey.
Our expertise is grounded in unparalleled best practices insights from benchmarking the world’s leading businesses – including
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The Hackett Group®, quadrant logo, and Digital World Class® are the registered marks of The Hackett Group®.
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This release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group to effectively market its digital transformation, our ability to transition our capabilities to support generative artificial intelligence (AI)-related consulting services and solutions and other consulting services, our ability to effectively integrate acquisitions, including the LeewayHertz acquisition into our operations, our ability to manage joint ventures and successfully cooperate with our joint venture partners, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group and its services as well as other risk detailed in The Hackett Group’s reports filed with the United States Securities and Exchange Commission. The Hackett Group does not undertake any duty to update this release or any forward-looking statements contained herein.
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Source: The Hackett Group, Inc.
