Master Data Management
Facing complex business process management project requirements, organizations often struggle with data. Defective, delayed and incomplete data creates immeasurable overhead for lawyers and staff trying to get work done, and for IT teams tasked with expanding the scope, quality and speed of tools and services provided to business users.
IT departments can jumpstart the delivery of operational improvements by implementing a unified data architecture that provides a centralized foundation for quickly addressing a broad range of challenges. By improving the quality, timeliness and accuracy of information, organizations can streamline key business processes, improve lawyer productivity and provide better management reporting. In doing so, IT can also empower itself to more easily address a host of challenges including new business intake and new lawyer provisioning, and free itself from the pain associated with “gotchas” like application upgrades and vendor lock-in.
What’s a Master Data Directory?
It’s the most important architectural innovation in data management since the creation of the database. And it’s the key to achieving uniform data quality in diverse law firm environments, where an ever-growing roster of applications pushes complexity to new levels. As all firms know, their applications may be “best of breed,” but those tools aren’t necessarily designed to be the best at communicating and sharing information with one another.
The key to achieving uniform data quality is implementing a legal information architecture that leverages a Master Data Directory. This strategic approach requires creating and maintaining a “best and blessed” standard repository of key information that is consumed by people and applications throughout the firm. The information can include a superset of related to entities including:
A centralized data architecture that reliably delivers accurate and trusted information opens a world of possibilities. With a Master Data Directory, instead of struggling to connect applications and coping with data management complexities, firms can execute new IT projects with fewer delays, fewer complications and fewer surprises.
Intapp Helps You Master Your Data Architecture
There are several approaches firms can take to build a Master Data Directory. But the one thing that’s critical to any architecture is data integration. Implementing a data abstraction model where information resides independently of production applications highlights the need for real-time communication to keep the centralized repository and applications that depend on it synchronized.
Intapp Integrate was designed with real-time in mind. It’s the legal industry standard for data integration, delivering event-driven, instant data updates across applications and repositories. In addition to providing a technological foundation for master data management, Intapp supports firm MDD initiatives with services, support and design best practices.