DRM - The Jewel in Oracle's MDM Crown
By David Butler on Apr 28, 2011
The value MDM brings to BI stems from its ability to create accurate dimensions across the application landscape. MDM hub holds these fully augmented dimensions, their base hierarchies, and the cross reference mapping to the transactional applications. All necessary data quality and data governance functionality is included in Oracle's purpose built operational MDM hubs for Customer, Product, Site, and Supplier master data. In addition to this base set of MDM products, Oracle delivers Data Relationship Management (DRM). DRM has the unique dual capability of being able to master reference master data such as Chart of Accounts and Cost Centers, and at the same time, function as an analytical MDM engine for mastering enterprise wide hierarchies. Base hierarchies from operational hubs are fed to DRM for business users to control the multiple simultaneous hierarchies that are needed by EPM and other BI functions.
Gartner has done a recent study of DRM and conducted in depth interviews with Oracle DRM customers. Here are a few quotes:
· An electronic design automation firm: "The initial deployment was for our sales hierarchy and we were able to distribute maintenance, while it enforces all rules of channel management. We have since extended it to many other hierarchies."
· A financial services company: "All business units have been very happy with the consistent organizational hierarchies and consistent reporting."
· An energy services company: "DRM along with our business processes has enabled us to be very successful."
· A data storage company: "DRM provides a foundation for an enterprise, business driven, single source of truth for hierarchies and reference data with effective management capabilities including change management, control and audit, and data governance."
The list of hierarchies DRM can manage is too long for a short blog. But here are a few mastered by DRM in these four companies: accounts, currency, external geography, fiscal calendar, product, scenario, product revenue classification group and category, and sales districts for professional services, profit centers (Geo based and business unit based), cost centers, customers, company, legal entities, organization, currency, functional area hierarchy, sales hierarchy, sales territory hierarchy, work location, management organization, financial approvals, chart of accounts, and various mappings that create relationships between accounts, cost centers, sales channels and product lines. Ask yourself how valuable would this capability be for your organization.
If you would like to learn more about DRM, Oracle and The Hackett Group invite you to a webcast on Thursday, May 12 at 10 AM Pacific to learn how companies can save millions of dollars yearly by aligning the Chart of Accounts and building efficiencies into the overall organization. You'll hear how the business can enforce consistency and strong financial controls while supporting the changing reporting needs throughout your enterprise.
Key discussion topics will focus on:
- Best practices around COA design and maintenance.
- How a streamlined chart of accounts helps to expedite ERP upgrades and consolidations.
- Best practices in moving from multiple, possibly heterogeneous, financial systems to one global system.
- Mergers & Acquisitions, rapidly analyzing, synthesizing and integrating acquired companies.
- Case studies around common pitfalls and keys to success
DRM is the reason why Oracle can safely argue that we have the broadest and deepest suite of MDM products on the market, bar none. Being able to not only create data that is valuable for BI, but to deliver products that can bring that value to life, makes DRM the jewel in Oracle's MDM crown.