5 questions with Ben Rund
How is data quality and digital transformation connected?
Data quality is a topic that companies have been struggling with for decades. It has never been more important than it is now as digital transformation is in full swing. It’s imperative that companies pay close attention to the quality of their data to ensure that customer data, product data and vendor/supplier data is consistent and accurate. High quality data can be used to ensure great customer experiences and to drive successful business decisions.
What are the top 3 business outcomes companies can achieve with MDM?
Great data has usually the impact to drive better customer experience and grow ecommerce sales. It also delivers smarter decision making for executives and any business role by providing rock solid trustworthy foundations. MDM also helps to ensure compliance and streamlines supply chain efficiency. Our clients such as Orkla realized to be more efficient in the supply chain and transparent about all product-ingredients to their consumers. At the end it is speed and agility. Nobody can allow their business to be slow anymore.
Why do clients usually join Riversand?
Although Riversand has a sophisticated MDM solution, our clients don’t not only just choose us for the because of our technology. We have a long history (18 years in business) of providing customer success and constantly evolving technology to meet the demands of our customers and the changing market. With our dedicated customer success organization and strong partners around the world Riversand has been recognized by the analyst community as a market leader and visionary in the field of MDM. These are the reasons why clients join Riversand.
Speed and flexibility in driving value from our cloud platform has recently convinced many new marquee logos about Riversand. By the way, we just announced a record Q3 as we have completely transitioned to a SaaS based offering and the record growth was driven by subscription revenue. We experienced 221% Year over Year subscription revenue growth and realized sequential quarterly growth of 22%.
What are the top trends in MDM?
We saw several key trends emerging over the past 12-18 months. In the past, MDM has traditionally been implemented within the IT realm of an organization. Now we can observe that more and more business users become involved. With this shift we see a change in how the technology evolves and that companies are seeking more self-service, cloud-based options for implementing MDM. Organizations want to be able to implement rapidly and to realize quick successes. Historically there have been “siloed” MDM approaches with technology solutions specifically around the product domain area or the customer domain area, but today companies are looking for a solution that can handle multiple domains. As data challenges become more diverse – and as more and more data domains emerge – organizations will look for more sophisticated technology solutions to handle their needs.
What is your main recommendation to companies starting an MDM program?
I have two recommendations! The first is to ensure that all relevant persons of the organization are involved and are collaborating to ensure MDM Program success. This means to ensure that both, IT and business, are talking and working together to guarantee that the chosen technology is the right fit and that it uniquely serves the needs of the business.
The second recommendation is to start small and achieve some successful results before scaling up. Too many organizations fail at MDM because they embark on an MDM program that is too big in scope and thus becomes impossible to implement. Starting small ensures that an organization can realize benefits very quickly and then gain momentum to evolve their MDM program.