Master Data Management (MDM):
Fierce competition and bottom-line profitability are forcing companies to become more accurate in their data management. As such, by managing information relating to products, customers, and/or vendors, it enables corporations to become organized in their processes and procedures, meet requirements for compliance and governance controls, and increase data accuracy. This lends itself to fewer errors due to erroneous data that exists across systems.
Product Lifecycle Management (PLM):
To meet the ever changing demands of product development, PLM was created to provide the necessary capabilities companies need to facilitate information, manage content, and create an avenue for knowledge management across the entire product life cycle from conception to release.
Supply Chain Management (SCM):
In today’s complex business arena, creating an adaptive supply chain network is crucial to staying ahead of the curve. As such, SCM was created to enable companies and their partners to collaborate more efficiently, increase productivity, meet customer demands, and respond quickly in a dynamic marketplace.
Supplier Relationship Management (SRM):
SRM provides the right tools for companies to utilize to streamline their activities for bottom-line cost management. By using SRM to monitor activities like invoicing, sourcing, requisitioning, and spending SRM helps organizations optimize their procurement processes and helps partners better strategically align.
Customer Relationship Management (CRM):
Customer-driven growth is an important strategy for most companies. So to make the most of the relationships companies have with their customers CRM allows companies to have increased functionality for marketing, sales, and service.
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