Reliable master data is central precondition for industry 4.0
Master data management strategy necessary in the framework of data governance
Heidelberg, May 24, 2017 – Reliable master data is a central precondition for successful industry 4.0 applications. This is valid for data exchange via intercorporate systems as well as between business partners and external systems. However, companies still struggle with data management problems. Data is scattered across different data silos while being differently structured and defined, not accessible, do not have sufficient data quality and are poorly documented. To cut a long story short, suitable data and especially master data management do not exist.
The Business Application Research Center (BARC), a research and consulting institute for business software based in Würzburg, Germany, had the same result in its current research note “Establishing the precondition for industry 4.0 with universally transparent master data”. zetVisions AG, IT specialist for software solutions for master data and legal entity management, has enabled the free distribution of the independent study through sponsoring.
The offers of technology providers relating to industry 4.0 promise to better link IT and machine systems with each other, save more data in an inexpensive way, evaluate them intuitively with the help of modern analyzing tools to make better decisions, accelerate processes as well as develop and offer new products and services in the end. “Data plays a central part in this. The required interplay of the systems can only work if these operate on a shared data basis such as uniform and centrally managed raw material, investment and product master data,” the authors of the study, Lars Iffert and Timm Grosser, say.
Applications relating to industry 4.0 are possible across the entire value chain from research and development, purchase and production to sales and service. An implementation, however, is only possible on the basis of integrated, reliable and accessible data. In this context, master data management with growing interest has increased analyzing requirements on the basis of distributed data across systems or new synchronization requirements between systems in batch or real-time operation on the one hand and on the other hand strategic importance increases. “Companies have to establish he right preconditions for reliable master data through a master data management strategy in the framework of data governance,” say Iffert and Grosser. A master data management strategy rests on the three pillars of organization (process organization for MDM), processes (structure of and dealing with master data) as well as technology (MDM architecture approach and the tools that need to be used). These three pillars are inseparably connected and are mutually dependent.
The authors of the BARC study come to the conclusion that industry 4.0 applications are mostly data-driven, their success therefore depends on reliable and integrated data. “Data availability is the linchpin of industry 4.0,” Iffert and Grosser emphasize. Data quality and master data management initiatives therefore are inevitable. Yet, many companies recoil from data optimization projects. It was shown, however, that successful initiatives work because they were started and developed evolutionarily.
The Research Note “Establishing the precondition for industry 4.0 with universally transparent master data” can be requested via the contact form.
Affiliation: zetVisions and KPMG Law establish a cooperation in Legal Entity Management
Global Entity Management Service of KMPG Law for legal standard services will be combined with the Legal Entity Management Software CIM of zetVisions
Heidelberg/Düsseldorf, 07. February 2017 – The zetVisions AG, a Heidelberg based specialist for software solutions of Legal Entity as well as Master Data Management, and the KPMG Rechtsanwaltsgesellschaft mbH ("KPMG Law") have arranged a strategic cooperation in the area of Legal Entity Management. Subject of the cooperation is the combination of the KPMG Global Entity Management (GEM), which is currently being constructed, with the zetVisions Corporate Investment Manager (CIM). CIM is the most widely used software for Legal Entity Management in the DACH region. The goal is to work closely together in the supply of complementary services for the two partners.
With GEM, KPMG Law will in future offer a service for worldwide support of group companies through legal standard services. This way, companies have the possibilities of assuring the corporate compliance of their group companies for a fixed price and also to utilize further standard services for reduced hourly rates. Hereby all investment-relevant procedures of the company are comprehensively recorded and kept up-to-date in zetVisions Corporate Investment Manager. CIM supports the legal entity management and enables the realization of scale effects.
"zetVisions and KPMG Law intend to cooperate closely in order to combine zetVisions' expertise in investment management with KPMG Law's international corporate legal know-how in a meaningful and solution-oriented way for clients and customers", says Monika Pürsing, CEO of zetVisions AG.
The software zetVisions CIM supports companies in the task of managing national and international legal entities professionally and in a value-oriented manner. It is the world-wide first and only SAP-based software for management of company investments in an audit certified quality. The certification according to the IDW PS 880 test standard confirms that zetVisions CIM reliably meets the requirements for regularity of operational information systems.
"As a global law firm in the KPMG network, we are able to record the investment-related group processes worldwide and to take over the legal standard services in any jurisdiction at highly attractive conditions. In this way, the client's resources are considerably relieved," explains Dr. Philipp Wüllrich, Senior Manager at KPMG Law. "With CIM, we now have the ideal software tool to display this information to the top management as well as to the special departments."
zetVisions CIM 3.2 Achieves Certified Integration with SAP S/4HANA®
Legal entity management solution zetVisions CIM helps provide companies with reliable, up-to-date, legally compliant information regarding their investment portfolios
Heidelberg, January 17, 2017 – Heidelberg-based zetVisions AG announced today that its zetVisions CIM 3.2 (Corporate Investment Manager) solution has achieved SAP-certified integration with SAP S/4HANA®.
Monika Pürsing, CEO of zetVisions AG, explained: “This certification helps give that companies that rely on zetVisions CIM the assurance that it interoperates with SAP S/4HANA.”
zetVisions CIM is based on the SAP NetWeaver® technology platform and is already certified as powered by SAP NetWeaver. The software is designed to assist companies with the complex task of professionally managing their investments in national and international legal entities in a value-based manner. Using zetVisions CIM, companies can access financial and legal information concerning their investments at any given point in time or for specific periods. Especially when used across multiple departments, zetVisions CIM supports collaboration aspects, so that corporate departments benefit from the shared use of a uniform legal entity management system. As a result, a wide variety of processes within a corporation can be made more efficient.
Renowned clients from a variety of industries, ranging from medium-sized family-run businesses to numerous corporations listed on the DAX and MDAX indices, rely on the zetVisions solution portfolio in the field of legal entity management and master data management.
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zetVisions AG celebrates its 15th company anniversary
200 clients in Europe rely on the expertise of the specialist for legal entity and master data management in Heidelberg
Heidelberg, December 6, 2016 – In these days, the software company zetVisions AG from Heidelberg is celebrating its 15th anniversary. It all started with around 20 employees and a narrowly defined corporate purpose and now the company has become a leading provider of standard software solutions for legal entity and master data. With the help of 75 employees the company supports around 200 clients in Europe and generates a turnover in the higher single-digit million euros range.
“Right from the beginning zetVisions has primarily developed its own solutions. At first we financed ourselves by venture capital, made the turn-around in 2011 and have been working lucratively ever since. Today we can say: We’ve grown up.” says Monika Pürsing, CEO of zetVisions. Dr. Holger Reichardt, chairman of the supervisory board, adds, “Not least the continuous quality of the management and the whole staff as well as the high customer satisfaction with the zetVisions solutions portfolio have significantly helped with the successful development of zetVisions. So we especially thank the loyal customer community of zetVisions.”
In 2001, Horst Ziegler, long-time Head of Consulting at SAP AG, founded the company. At first, the main focus was on the development of a legal entity management solution especially for the venture capital and private equity field. In 2006, the first SAP-based legal entity standard software in the world was developed in cooperation with SAP AG: zetVisions Corporate Investment Manager (zetVisions CIM). After an elaborate certification program, it was included into the SAP solution portfolio as an official addition.
In August 2007, zetVisions took over OpenData Systemhaus AG and its product zetVisions Anteilsbesitz-Management-Informationssystem (zetVisions AMI). Moreover, zetVisions has taken over the support of the former Cartesis/BusinessObjects products Cosmos and Insighter since June 2008. “Through these takeovers we were able to expand our customer base and especially to further deepen the know-how in the legal entity management. Today, zetVisions is seen as the leading European software competence center in this area” Pürsing annotates.
Since 2012, zetVisions has developed master data management as its second mainstay. With the standard solution zetVisions SPoT the company offers a “Single Point of Truth” for different master data domains as for example client, supplier, finance and product master data or freely definable master data domains. It is a multi-domain MDM solution that covers several master data domains and centralizes the entire master data management on one platform. zetVisions SPoT has won an exceptionally quick market acceptance and is already used successfully by several renowned DAX (German share index) companies.
In November 2009, zetVisions introduced the software development method scrum in-house and therefore is able to put into practice not only the standard development but also customer-specific developments quickly and reliably. “Companies take advantage of scrum due to shortened time to market and high flexibility towards client and market demands. The result is a higher product and service satisfaction, as our customer surveys show,” says Pürsing.
At the moment, the customer base of zetVisions comprises around 200 companies in Germany and Europe. These include companies such as BASF, Lufthansa, Merck, Siemens, ThyssenKrupp, Airbus, Freudenberg, Haniel, Heraeus as well as numerous other companies from different fields.
zetVisions will offer mobile data usage for your SAP-based products in the future
zetVisions ANYWHERE allows access via apps from any place and all terminal devices
Heidelberg, October 28, 2016 – With “zetVisions ANYWHERE” zetVisions AG in Heidelberg, expert for software solutions concerning legal entity and master data management will offer its clients apps for the usage of existing data of zetVisions SAP-based products zetVisions CIM and zetVisions SPoT in the future, which are optimized for all terminal devices such as desktop, smartphones, tablets and notebooks.
Thus, zetVisions ANYWHERE offers for example all relevant information from the legal entity management software zetVisions CIM (Corporate Investment Manager) at a glance, in real time and at any place. Supported by an intuitive user guidance users have access to companies, people and their profiles as well as tasks, among other things. “This is how users can access relevant data for their investment companies as a clearly structured company profile. With zetVisions ANYWHERE it is even possible to comfortably verify and publish the own task list including a detailed view for each task. You can make decisions on the basis of up-to-date information that is quickly available and presented in an appealing way. The comfortable launchpad makes a quick introduction into the relevant applications possible”, says Monika Pürsing, CEO of zetVisions. “To secure a high user acceptance, full flexibility and design freedom analogically to corporate design of the client are given.”
This range of apps initially comprises six apps and is to be developed gradually. The apps can be combined randomly based on a modular principle. With this it is referred to customizing of profiles and views of the SAP-based zetVisions solutions and it does not have to be adjusted again.