* Independent Research Firm highlights the importance of Master Data Management for businesses as data volume generated grows multi-fold
Prospecta Software Australia Pty Ltd (“Prospecta”), a global provider of niche services around enterprise customers for data and automation, is pleased to announce that it has been recognized as one of the providers of Master Data Management (MDM) solutions in the recent report, Now Tech: Master Data Management. Q4 2020 by Forrester, an independent market research company.
Romit Mukerji, Managing Director, India, Prospecta said, “We are honoured to be recognized by Forrester as a vendor of Master Data Management (MDM) solutions. Data is a critical asset for any enterprise today. MDM plays a pivotal role in enabling businesses to manage data accurately and efficiently to extract value and take faster insights-led business decisions that ultimately accelerate growth. We believe this acknowledgement is a testament to our continued efforts to address today’s challenges around data and automation.”
The volume of data generated is accelerating at an extraordinary pace, making MDM critical to any business function. Master Data Management acts as a catalyst in providing businesses with a single source of reliable information on products, customers, employees, suppliers, enterprise assets, and more by eliminating duplicate or erroneous data. It enables businesses to make informed decisions, improve compliance, efficiency, decrease costs, and identify value add solutions to deliver a better customer experience.
The report, Now Tech: Master Data Management Q4 2020 by Forrester, highlights these benefits of MDM and that enterprises are increasingly investing in a single source of data management which acquires, governs, protects, and distributes data for accelerating their business models. Forrester overviewed Prospecta as one of the MDM vendors based on its market presence (global) and functionality (on-premises; public cloud; multicloud; SaaS), under the small revenue category.
Prospecta’s proprietary cloud-based platform MDO (Master Data Online), is fast becoming the preferred option for companies seeking to address their data challenges, including several Indian and global companies such as Godrej, UPL, Hindustan Zinc, Bluestar, Dow Chemical, Mondelez, and Brookfield, among others. MDO is SAP certified and can be easily integrated with other leading enterprise solutions as well. Most recently, Prospecta raised AUD 20 million from Ellerston JAADE Australian Private Assets Fund to accelerate its product and operations globally including India.