The demand for master data management (MDM) programs from external service providers has increased, with organizations transitioning to cloud-based offerings and making plans to modernize their legacy MDM platforms. The latest Gartner Market Guide evaluates 18 external service providers (ESPs) considered Representative Vendors of the breadth of the market and that provide MDM services such as strategy development, implementation, and/or managed services.
Wipro has been recognized as one of the Representative Vendors in the Market Guide from an MDM-derived revenue perspective. With our business-centric governance, customized implementation roadmaps, and focused efforts on customer, supplier, and product MDM domains, we are efficiently catering to the MDM needs of modern organizations and accelerating their digital transformations to become intelligent enterprises.
With multiple industry-specific accelerators, we are expediting MDM implementations for our clients across the industries we serve, including banking, finance, and insurance, as well as utilities and energy. Our broad MDM portfolio has enabled 40% of our clients to master multiple MDM domains.
The Gartner report includes some interesting findings:
- Almost 90% of master data management (MDM) programs rely upon the services of third parties. With a highly fragmented service provider market, differentiating between these providers to find the optimal partner is both challenging and vital.
- In the absence of seasoned strategic guidance, MDM is frequently treated as a technology project in isolation, resulting in suboptimal business outcomes.
- Transitions to cloud-based offerings and modernization of legacy MDM platforms are contributing to demand for external services.
In the Market Guide, Divya Radhakrishnan, Senior Princial Analyst at Gartner, writes, “External support continues to be crucial to and highly leveraged across master data management programs yet identifying appropriately suited and skilled service providers remains a challenge. Data and analytics leaders should use this research to identify characteristics of consulting firms best-suited to their individual needs.”
Read Gartner’s evaluation of Wipro’s MDM expertise by downloading the Market Guide.