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On this blog we will cover stories from all around the Exact ecosystem.

Posts Tagged ‘Multi-division’

Exact Central Master Data Management is now generally available

Written by Richard Smits on . Posted in Exact Globe, Exact Synergy

We are pleased to announce that after an extensive controlled release period Exact’s solution for centrally managing master data for multiple divisions is now generally available. Exact Globe customers with multiple divisions that are dealing with cross divisional related master data can make use of the Central Master Data Management (CMDM) solution. Although being a topic on the agenda of many international operating companies, local operating companies with multiple divisions can also benefit from implementing Exact’s CMDM solution.

Companies with multiple divisions have a challenge in managing data across these divisions and facilitating companywide compliance and a foundation for consolidated management reporting and analysis. Besides that, being consistent in the way master data is set up facilitates effective collaboration between individual divisions by sharing available capacity, knowledge, resources, products and even customers or suppliers, leading to better overall results for the group. This leads to a need for CMDM.

Our offering

Exact CMDM makes it possible to manage the following entities “Accounts”, “Items”, “General Ledgers Accounts” and “People” as per Exact Globe product update 403/ Exact Synergy Enterprise product update 248.

Benefits

  • In control over divisional risk and results.
  • Compliance on company standards.
  • Workflow management for creation and maintaining master data included.
  • Offering blueprints for business processes.
  • Work together increasing efficiency and avoid redundancy where possible.
  • Facilitate consolidated reporting and consistent local reporting for better decision making.
  • An in-house Exact solution that synchronizes between Exact databases.
  • Including Exact business logic reduces implementation time and eliminates database (update) related constraints.

For whom

  • Companies with multiple divisions that share related master data.
  • Exact Globe customers with multiple divisions that share related master data.
  • Exact Globe customers with multiple (country) licenses.

For more information about the CMDM solution, please refer to our videos.

Should you have any questions regarding our Central Master Data Management solution, please comment on this blog post.

 

Intercompany = Double work?

Written by Richard Smits on . Posted in Exact Globe

Companies with multiple divisions are having a big challenge to maintain their master data consistent and up-to-date, see my previous blog post. But next to master data, companies with multiple divisions also exchange transactions between each other.

 Examples
• Sending a purchase order to your production facility, and they will create a sales order for their administration.
• Sending goods to your sales office abroad, means a receipt at the sales office
• Sending an sales invoice to another subsidiary, so a purchase invoice on their side.
• Headquarters orders and pays for an advertisement, all divisions have to pay a part of the costs.

Just some examples, there are much more (complex) scenario’s.  Although working at the same company, and (maybe) working with shared master data, entries need to be done twice. Next to the double entry, and the inconsistencies that can occur due to manual errors,  companies also wants reporting. Reporting like stock in the different subsidiaries, so you are able to see if the item you need is available at another subsidiary, or as a financial controller you want to see all outstanding financial intercompany transactions company-wide, etc.

Currently we are analyzing how Exact could provide/enhance a solution for companies facing this issue.
Do you (know companies) face this issue? How do you currently handle this, indeed entering your data twice or do you use other ways?

If you have any ideas/remarks, your comments will be highly appreciated!

Photo credit: Managementsite