Do you have any practical experience as well as recommendations in your organization for a financial master data management (F-MDM) product - whether SAP MDG or any others with key features including ERP and other integration, workflow and approval management and flexibility of configuration, chart of account attributes managed etc.? Is so, what are the advantages and disadvantages of that specific product

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Director of IT in Manufacturing, 5,001 - 10,000 employees
We usually use ODOO for our ERP, SAP is very rigid to customize base on our business
Director of IT in Software, 51 - 200 employees

Pros of SAP MDG:
1. Integration with SAP ECC: SAP MDG is designed to integrate seamlessly with SAP ECC, making it a suitable choice for organizations already using SAP as their core ERP system. This integration allows for consistent data governance across various modules and systems.

2. Workflow and approval management: SAP MDG provides robust workflow and approval management capabilities. You can define custom workflows to manage the creation, maintenance, and approval processes for financial master data. This helps enforce data quality and consistency while ensuring proper governance and control.

3. Flexibility of configuration: SAP MDG offers extensive configuration options to tailor the solution to your organization's specific needs. You can define data models, attributes, validations, and business rules to align with your unique chart of account requirements and data governance policies.

4. Centralized data management: SAP MDG allows you to establish a central repository for financial master data. This ensures data consistency and reduces duplication across systems. It provides a unified view of master data, enabling better decision-making and reporting.

Cons of SAP MDG:
1. Complexity and implementation effort: Implementing SAP MDG can be a complex endeavor, requiring significant resources, expertise, and planning. The configuration and customization options may require skilled consultants and thorough testing to ensure a successful deployment.

2. Licensing and costs: SAP MDG is a licensed product, and the cost may vary depending on the specific deployment scenario, organizational size, and other factors. Considerations such as user licenses, infrastructure requirements, and ongoing maintenance costs should be taken into account.

3. Learning curve: As with any new software, there may be a learning curve for your IT team and end-users when adopting SAP MDG. Training and change management efforts may be necessary to ensure a smooth transition and user adoption.

4. Limited integration with non-SAP systems: While SAP MDG integrates well with SAP ECC, its integration capabilities with non-SAP systems may be more limited. If your organization uses multiple ERP or BI technologies, you may need to assess the level of integration required and evaluate if SAP MDG can meet those needs effectively.

It's essential to conduct a thorough evaluation and engage with SAP or a reputable implementation partner to understand the specific capabilities and limitations of SAP MDG in its latest versions. Additionally, reaching out to other organizations that have implemented SAP MDG or alternative F-MDM solutions can provide valuable insights and practical experiences.
CTO in Software, 11 - 50 employees
I think you should check Oracle MDM or Egnyte.
CTO & Lead Advisor in IT Services, 5,001 - 10,000 employees
I suggest let first list down all use case running in FMDM, It is largely used for centralization of CoA or more that that and what all downstream & upstream system interfaced with the FMDM. Then accordingly look for a tool.  Also considered SAP ECC roadmap, i am sure your company definitely looking to migrate into S4 HANA. Being largely in SAP, first place chocie should be SAM MDG.
Chief Technology Officer in Media, 2 - 10 employees
SAP Master Data Governance (MDG) is a popular choice for organizations using SAP ECC as their core ERP system. It is designed to centralize and manage master data across various domains, including finance.
When evaluating F-MDM tools for your organization, it's essential to assess how well they align with your specific needs and evaluate the level of effort required for implementation and ongoing support. Engaging with vendors, seeking demonstrations, and consulting with experts can provide you with more in-depth insights and assist in making an informed decision based on your requirements and constraints.
Director of IT in Manufacturing, 51 - 200 employees
I would recommend IFS -
They have a very complete solution.
Senior Director of Engineering in Software, 501 - 1,000 employees
Would Coupa work for your use case?

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