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Master data such as customers, products, accounts or locations is the foundation of critical business decisions and is used in important business processes. Today, many companies have their master data scattered and inconsistent across numerous front- and back-office systems and lack a consistent, complete, and accurate enterprise view of this data. This inefficient handling of data costs businesses millions of dollar in lost revenue. Master Data Management (MDM) solves these issues and improves revenue by enabling cross- and up-sell opportunities. Implementing a MDM solution successfully requires a well-designed MDM system as a core component of the solution.
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