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Industry:

Banking

Business Problem

  • To maintain data consistency and integrity i.e. golden source of master data to support enterprise-wide compliance with regulatory and legal requirement such as SOX, IFRS, GAAP etc.
  • To actively review all master data changes by stakeholders assuring high quality data
  • To timely complete all monthly, quarterly and yearly closing activity without manual intervention
  • To actively track changes to master data and with auditable governance processes
  • To distribute changes to various functional group across enterprise

Business Solution

A stringent Master Data governance process can be implemented using SAP NW BPM. NW BPM when used in conjuction with NW MDM as master data source, a distribution process can also be triggerred once approval from all stakeholders is received. The governance process can then wait an acknowledgement from downstream system to mark the completion and distribution across functional group. Additionally, an escalation mechanism will ensure that tasks get completed within stipulated time-frame.

Business Benefits

  • Disciplined governance model ensures single “golden source” repository of the Financial Master data
  • Using BPM datasource an audit trail and remarks can be captured for reporting purpose.
  • Automated syndication/distribution (MDM Ws) of updates to downstream systems using automated BPM activities will ensure wider distribution of Master data across functional group.
  • Timely and accurate compliance with regulatory requirement such as SOX, IFRS, GAAP etc.

Resources

 

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