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Digital Asset Management
1.
Support Global Operations
and Complex Marketing Needs with MDM and DAM CASE STUDY Data has become a business asset. Increasing business growth, securing future budgets, reducing risk, and complying with government regulations are among the business-oriented factors compelling organizations to focus more on better data management [1] . data, reconcile any inconsistencies and help companies develop an understanding of the global markets. Master data Management is one such technology. Master data management solutions allow manufacturing companies to eliminate issues like inventory discrepancies, lack of systems’ integration and enables them to improve product quality and yield through advanced analytics and sophisticated statistical assessments which identify patterns and core determinants of a process performance or customer behavvvior, without significant capital expenditures.[4] Manufacturing enterprises are on a constant look-out for comprehensive solutions which provide the ability to capture, access and convert information. Enterprises can view data as an asset only when they can depend on it and be able to run global operations with Data as a foundation. They invest in technologies that are expected to clean up They have to offer a complete picture of the supply chain, be flexible and incorporate the necessary tools to help companies. Inaccurate data, gaps in information and poorly integrated data across the organization will improve data quality across business verticals; address local and global data inconsistencies due to siloed information; adapt to the latest technological developments in the industry (robotics, subsea welding); keep up with the latest legislative changes; respond to customers’ needs quickly and efficiently using cost-efficient multichannel; engage in long-lasting relationships with other business partners to drive innovation; support a broad global presence that can withstand mergers and acquisitions and new; managerial directions in regards to strategy and products; ©2017 Riversand Technologies Inc. All rights reserved. 1 100 Years 8,700 Employees 26 Facilities 80 Countries
2.
A Digital Asset
Management (DAM) solution is critical for Manufacturing Companies, particularly when it comes to increasing their customer base and building brand loyalty. DAM automates the marketing process, draws data from all the systems (and moves it where needed for the marketing efforts), creates a 360° view of the customer and turns customers’ insights into actionable steps. hinder the ability to create relevant, timely and engaging communications, and will be ultimately undermining the core strategy and the efforts to increase loyalty and sales.[3] organizations use DAM solutions to support their broader digital experience agendas, benefits can include: According to Forrester, Digital Asset Management (DAM) applications have caught the eye of a diverse set of organizations because firms in industries from financial services to manufacturing are content creators. When Multiple product descriptions across different ERP Systems The Client is a marketplace leader and a global producer of welding and cutting equipment and consumables. They have a broad global presence with more than 6,000+ employees and manufacturing facilities across four continents. As the business grew and expanded, the client had employed a variety of data management systems to keep up with the global operations and the complex marketing needs of over 1,300+ product lines and 25,000+ SKUs. Several issues revolving around product data began to emerge including redundant product entries, scattered data across four different ERP and PLM Systems, multiple data management policies (one for each system) inconsistent product information and disparate descriptions. Reduced content re-creation costs - Organizations that centralize assets ensure that business users aren’t wasting valuable time searching for assets and spending needless resources on re-creating content. Increased operational efficiency - These tools help streamline the content creation, legal approval, creative approval, and agency collaboration processes. They help firms decrease the time from ideation to actual execution of experiences. Improved brand consistency - DAM solutions help ensure that all customer-facing interactive content meets standard brand guidelines. Improved rights management and compliance - DAM solutions offer legal benefits that can help organizations avoid costly mistakes like using content with expired rights or content for which they only have rights for a specific channel or region. [1] ©2017 Riversand Technologies Inc. All rights reserved. 2 OurClient’sProblems 1300+ Product Lines 25,000+ SKUs 100s Print Categories 40+ Websites 700+ Sales Reps. 23 Languages
3.
The Client recognized
the need for a better master data management (MDM) solution and after evaluating the leading providers, they chose Riversand’s MDMCenter. MDM serves as a single source of truth for product attributes and keeps data consistent across multiple enterprise systems and channels. ©2017 Riversand Technologies Inc. All rights reserved. 3 Our client made the strategic decision to invest in Riversand’s MDMCenter for a superior data management experience and to complement this solution with an integrated MAM system which significantly cut down the time required to create, correct and publish digital assets. Riversand’s core MDMCenter provides manufacturing companies with the necessary tools, processes, and data governance policies to create a central data pool from where the information flows as needed. This powerful data hub can also be accompanied by Riversand’s Media Asset Management (MAM) add-on for creating and exporting digital assets. This fully-integrated software within the MDMCenter’s database draws on cleansed master data and automatically deploys rich data sheets and product catalogs, across a diverse set of channels, according to the needs and specifications of each individual business unit. During the initial stages of the project, Riversand cleaned up all the product data and identified the correct source of master data where conflicting attributes were found. Afterward, Riversand’s MDMCenter and Media Asset Manager (MAM) were immediately implemented to prevent data from slowly deteriorating. The MDMCenter replaced all the redundant legacy systems and saved the company more than $100,000 in additional operating costs per year. The marketing efforts also became less labor intensive when utilizing a central data pool for all the product lines. Different business departments across the globe used to write their own product descriptions for identical products. MDM substantially streamlined this process: a single product description is now loaded into the digital Center and shared across the globe along with the language translations. Marketing claims also stayed consistent across different channels and regions; this has enabled a reduction in marketing expenses of approximately $500,000 per year. The company’s Marketing Executive noted, “Riversand’s solution enables us to easily access product marketing and technical information to provide rich product content. For example, images are stored and tagged by country along with supporting text in 23 languages so we can offer a truly localized experience”. The Client continues to expand their MDM capabilities by onboarding new products from Victor Technologies, a recently purchased subsidiary. WhytheychoseRiversand Results:EasilyaccessProductMarketingandTechnicalInformation With MDMCenter in place as the single source for product data, redundant legacy systems were retired at a cost savings of $114,000 per year
4.
©2017 Riversand Technologies
Inc. All rights reserved. 4 [1] https://www.edq.com/globalassets/white-papers/2016-global-data-management-benc hmark-report.pdf [2] Vendor Landscape: Digital Asset Management, 2017, Cloud, Convergence, And Analytics Will Disrupt The Market, Forrester Research, Inc., April 10, 2017 [3]http://www.smartinsights.com/lead-generation/marketing-automation/data-management -is-key-to-marketing-automation/ [4]http://www.mckinsey.com/business-functions/operations/our-insights/how-big-data-can- improve-manufacturing Resourcesused Riversand is an innovative leader in Master Data Management, powering industries from the world's largest to SMBs. Riversand's single integrated, scalable and robust multi-domain MDM platform caters to a variety of use cases across multiple verticals. In addition Riversand offers specific solutions such as Vendor Portal, Spare Parts Management, Material Master, GDSN on-boarding, Media Assets Management, Print Publishing etc. Business value which Riversand provides include accelerated time-to-market, increased sales, improved order accuracy, reduced costs and enhanced customer service. Customer satisfaction is at the heart of Riversand's innovation. For more information, visit Riversand.com and follow @RiversandMDM on Twitter. LEARN MORE
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