Convergence Data Team
Aug 8, 2023
Governance, Cleansing Data, PLM, Part Cleansing, Part Rationalization, Part Standardization, Enrichment Lifecycles, Ecommerce, PIM, Parts Classification, Engineering, B2B, Product Data, Aftermarket Parts, Data Management, Data Factory, M&A, Mergers & Acquisitions, New Part Introduction, Product Information Management, Data Onboarding, Match and Merge, Digital Thread

Don't Go It Alone: Benefits of a Managed Data Service

💡 Not all data programs are the same. Over the years, we've encountered B2B customers who struggle with large volumes of data projects they cannot keep up with. Many of these data projects require expertise or capabilities that clients do not have readily available in house. These challenges may come in the form of:

  • Lack of technical expertise
  • Limited resources
  • Limited time and cycles to effectively manage programmatic data initiatives

Ultimately, enterprises may need a managed service to scale and bring specialized capabilities and knowledge to their data programs.

 

At Convergence Data, we understand this challenge and offer Managed Data Services program a tailored to your needs to address your data projects enterprise-wide over an extended period of time. This enables your business to focus on building new competencies and achieve a sustainable, longer-term approach to data governance, rather than relying on one-off projects.

 

Below are some of the most common benefits of leveraging a Managed Data Services program:

  • Industry Standard Best Practices: Deploy many years of experience in your industry to help solve your data problems by providing highly skilled professionals with expertise in B2B data projects.  This includes providing industry standard data models to save you time vs. building a data structure from scratch.
     
  • Workflows: Implementing established workflows can support both your legacy data issues as well as accelerate the launch of new parts and products.
     
  • Standardized Acquisition Onboarding: Each acquisition brings complexity and legacy data challenges. When multiple acquisitions are brought in over time, the complexity and data issues multiply accordingly.  Each acquisition's data will need to be normalized to the corporate standard. In addition, there is a strong likelihood that each acquisition will bring in duplicate parts and items that will need to be rationalized prior to onboarding.
     
  • Governance: Setting up data governance across the enterprise will help to streamline key data functions such as the introduction of new parts and products and maintaining data quality over time.  Organizations who do not take advantage of governance will struggle with adopting new data initiatives and continue to struggle with poor data quality.
     
  • Cost Savings: The cycle time it takes to ramp up and train an internal team can be costly. Leveraging a data factory approach via a managed service can allow your team operate more efficiently. A data factory approach will free up your resources and allow you to focus on more strategic initiatives.
     
  • Scalability and Flexibility:  Managed services teams are designed to quickly and easily scale up or down, based on the changing needs of the business. This flexibility will allow your team to adjust its planning and prioritize what matters most to your business.
     
  • Best in Class Solutions: Managed Data Services teams can also provide access to fit for purpose data solutions that integrate with your PLM and PIM environments. Many B2B solutions (such as product information management software) don't fully meet the demands of a growing data team. If you're not currently happy with your in-house data solutions, Convergence Data can help to fill that gap.

  • Peace of Mind through Funding: Establishing a Managed Service as year-over-year program will allow your team to plan future work in predictable segments while also mitigating the need to get new project budgets approved and reducing the risk of losing project funding in the future. Taking a multi-year approach will ultimately allow your team to solidify its programmatic priorities and better define future roadmaps and help you to make longer-term decisions across initiatives.
     
  • Speed to Resourcing: More than ever, securing resources for data projects can represent a significant challenge for enterprises both large and small. A managed data services team can help you to allocate your resources more purposefully over a longer time period of time, allowing you to mitigate the often-unpredictable headwinds of project and program planning, such as internal budget issues, project pauses due to a lack of available internal resources, or changes in priority. Having a managed data services team in the wings will allow you to respond rapidly to changes in project needs.

About Convergence Data

Convergence Data is a SaaS company that provides a suite of data software and managed services that wrapper around each data project we perform for our many customers across various industry segments.

 

📝 Contact us today about your data project requirements and goals.  We can help you make your plans of putting a data governance program in place a reality!