Why does a company have to maintain its master data?
Master data is data that contains basic information about relevant objects in a company and that is rarely changed - for example, the address data of customers, personnel data of employees or supplier data. Master data is therefore also referred to as "static data" or "master data".
The maintenance of master data is extremely important for companies, because a high quality of this data is the prerequisite for efficient and transparent processes, satisfied customers and business partners or also for exact, reliable analyses. Faulty master data, on the other hand, can lead to faulty processes, delays in invoice processing or even a loss of reputation for the company.