Today’s data-driven business landscape relies heavily on agile data management systems to drive innovation and stay competitive. As technology evolves, so do the requirements expected from the data systems. Many businesses have leveraged on-premises master data management solutions to govern and consolidate their data. However, with the growing popularity of SaaS models, shifting from legacy systems to Informatica SaaS MDM has become an attractive option.
This blog post will explore the transformational journey of migrating from on-premises offerings to Informatica’s SaaS solution, focusing on:
- Key limitations with on-premises systems
- Advantages of SaaS-based platforms
- Best practices involved in the modernization process
- Taking the next step with LumenData
Understanding the limitations of on-premises systems
Legacy MDM systems, once robust and capable of data integration and quality management, are now grappling with complexities and demands of new-age data ecosystems. Here are some key areas where businesses often face challenges:
1. Obsolete technology
Legacy systems are built on outdated technology, making it difficult to incorporate new capabilities and keep pace with evolving digital landscape. It becomes difficult to upgrade or introduce new functionalities, hindering the organization’s capability to respond quickly to changing market dynamics.
2. High maintenance costs
On-premises MDM solutions require businesses to spend on hardware, software licenses, ongoing maintenance, and more. It also includes taking care of infrastructure upgrades, software patches, and system support. As the on-premises system is nearing the end of sale, the support for the legacy system is likely to dwindle.
3. Limited scalability
It becomes challenging to add new data sources or expand storage capacity with on-premises MDM systems. It requires additional hardware investments, along with complex migration processes.
4. Security risks
Implementing robust security measures and ensuring compliance with industry standards becomes challenging without specialized expertise. Legacy systems place the responsibility of security entirely on the organization.
Staying relevant in digital times: Why MDM modernization matters
MDM modernization involves upgrading your MDM systems by adopting modern technologies and methodologies. One significant aspect of Master Data Management (MDM) modernization is where organizations are increasingly turning to Software as a Service (SaaS) solutions. Unlike traditional on-premises solutions, SaaS MDM is offered as a cloud-based service, saving organizations from investing in costly hardware and software licenses. The MDM solution is hosted by a third-party provider in the cloud. Organizations can easily access it over the internet.
The rise of SaaS MDM
SaaS MDM is revolutionizing data management for businesses across several domains. It provides a unified and reliable view of master data, breaking down data silos and facilitating interoperability between different applications and systems. Informatica’s SaaS-based MDM enables businesses to level up productivity. Organizations can connect multiple domains into an enterprise-wide, 360-degree view of the business.
Here are a few benefits you should know about SaaS-based MDM:
1. Quick deployment
Since the software is hosted and maintained by the vendor, businesses need not worry about infrastructure setup. SaaS MDM solution saves businesses from lengthy installation processes and complex configurations. The SaaS MDM platform is designed to be user-friendly and intuitive. Businesses can expect a range of pre-configured templates, workflows, and data models that are tailored to suit unique requirements. Informatica’s SaaS MDM comes with prebuilt domain and industry content and is known for its fast deployments.
2. Enhanced scalability
The cloud infrastructure provides businesses with increased scalability. As the data volumes increase or fluctuate, the cloud solution automatically scales up or down to accommodate the changing business ecosystem. Informatica’s SaaS-based MDM provides enterprises with a modern user experience. Organizations can take advantage of business-oriented interfaces and automation.
3. Hassle-free data integration
Informatica’s SaaS MDM solution helps businesses ensure data consistency across the organization. It allows you to connect and integrate data from various systems and sources, creating a single, unified view of your master data. Informatica’s MDM broad connectivity capability allows businesses to integrate and share master data anywhere by leveraging low code/no-code development.
4. Maximized security and compliance
SaaS MDM solution adheres to industry-specific security standards and provides data protection mechanisms to ensure data privacy. It helps businesses comply with regulatory requirements such as GDPR, California Consumer Privacy Act, and others.
5. Continuous upgrades
With SaaS MDM solution, you no longer have to worry about manual upgrades. The vendor ensures you have access to the latest features, bug fixes, and performance optimizations.
Practices to consider when undertaking MDM modernization
- Define clear business goals of your MDM modernization initiative. Develop a pragmatic MDM roadmap that highlights everything from ideation to implementation.
- Examine your current MDM solution to identify gaps, pain points, and limitations. This way you know what exactly needs to be addressed during the modernization process.
- Adopt a cloud-based MDM solution like Informatica to gain scalability, flexibility, and efficiency.
- Focus on data quality. Implement data profiling and cleansing techniques to ensure reliable master data.
- Prioritize data governance. Set up a robust governance framework with defined policies, processes, and responsibilities.
- Define clear business goals of your MDM modernization initiative. Develop a pragmatic MDM roadmap that highlights everything from ideation to implementation.
MDM transformation made easy with LumenData
LumenData is the #1 provider of SaaS-based MDM implantation services, assisting organizations in the process of transforming their data management strategies, systems, and processes. We begin by examining your business requirements, data ecosystem, and master data management goals. We’ve built a comprehensive range of accelerators that enable the migration of both your actual and reference data.
As an award-winning Informatica partner, we have access to Informatica’s extensive suite of data management products. Our team utilizes these tools and technologies to design, implement, and optimize MDM strategies tailored to meet customers’ specific needs. Furthermore, our partnership with Informatica enables us to closely collaborate with Informatica’s team, fostering a strong relationship that solidifies knowledge sharing and facilitates the most effective and innovative solutions.
One of our valuable clients – a renowned global university, faced challenges such as lag in data delivery, incorrect reporting, and others due to legacy architecture and duplicate data. We helped the university migrate to Informatica’s SaaS solutions and implement a centralized data repository for consolidated reporting. Our efforts helped the educational entity consolidate six million student records and facilitate enhanced data visualization and reporting.
Looking to implement modernization initiatives that can deliver exceptional customer experiences? Connect with us today.
Authors:
Shalu Santvana
Content Crafter
Ankit Kumar
Technical Lead
Chak Srinivasan
Director, Sales
Shalu Santvana
Content Crafter
Ankit Kumar
Technical Lead
Chak Srinivasan
Director, Sales
