New Release of Legal Entity Management Software zetVisions Insighter announced
Heidelberg, Germany, April 14, 2016 – The Heidelberg-based software vendor zetVisions AG has announced the release, with immediate effect, of version 3.4 of its zetVisions Insighter legal entity management application. The software is already used by a number of corporate groups from a variety of sectors across Europe.
Thanks to the new release, documents can now be uploaded in relation to multiple companies, persons, or events. As a result, transparency is enhanced for users, while the number of tasks involved in document management is substantially reduced by means of the multiple-allocation facility. In addition, a hierarchical display option provides users with a structured overview of documents. Furthermore, the file name of any uploaded document can now be directly changed in a straightforward process. Locating documents has also become faster thanks to the addition of new search fields to the document search.
As for reporting, it will in future be possible to check which users have access to which selections (reports) and to see what reports have been run and how often. Additionally, parameters such as the country can be saved when generating reports. This means, for example, that the same report can be run for several different countries without the need to specify the scope of the report each time. This provides users with even faster access to relevant information.
In a further significant new feature, zetVisions Insighter now also supports the Firefox and Chrome browsers.
As Monika Pürsing, CEO of zetVisions AG explains, "Our aim with this release was to optimize user-friendliness, usability, and transparency. In doing this, we are fulfilling the requirements of our clients, who have requested new functionalities."
The release has been available for delivery since April 1, 2016.
zetVisions introduces new release of legal entity management solution zetVisions CIM
zetVisions CIM offers companies accurate, reliable, and legally compliant information on their legal entity structure
Heidelberg, December 18, 2015 – The new release 3.2 of the legal entity management solution "Corporate Investment Manager" (zetVisions CIM) of the expert on software solution on legal entity management and master data management zetVisions AG, which is situated in Heidelberg, is released with immediate effect.
The new features of this release especially ensure more usability, flexibility, and transparency. The user-homepage may now also be used as dashboard. Apart from the new establishment of favorites, the display of the results of reports is also possible. One further essential innovation is that the start of a process can now also be done directly from an object (for example, a company, a mandate etc.) instead of only from the "processes" section. Hereby, an e-mail/task is automatically generated in order to inform the user that the data can be maintained within the respective process. Changes of steps within the process also lead to the generating of e-mails/tasks. Furthermore, with the help of only one mouse click, a field history at the master data as well as at the capital and shareholder data is now available.
The company profile, which provides detailed information on, for instance, elected representatives, locations, capital as well as shareholder structure of a company, was extended so that now there is also the possibility to recall a legal entity organigram in PDF-format. Consequently, a call-up of the zetVisions Visualizer is, decentralized, not mandatory as it occurs via the generated PDF. The company profile also offers a layout with multiple columns and, furthermore, a customizing of the topline is possible. Additionally, the company profile can be exported to MS Excel. Hereby, the data of the company profile can be delivered to a template, which is formatted by the user. Apart from the company and the person profile, there is now also a location and an investment profile.
Furthermore, documents can now be represented hierarchically and a document can be assigned to multiple objects (e.g. company, person, location). If the document is changed later on, the alteration occurs at any place where the document is attached.
The release also offers some new features regarding Reporting. Firstly, at ad-hoc-reports the user can directly navigate via a link to the respective areas; Secondly, the standard report “Changes in CIM” was optimized regarding its choice within the data output and its level of detail.
The main focus of this release again was to create more user comfort. Monika Pürsing, CEO of zetVisions AG, says: "We would like to offer our customers flexibility, usability as well as transparency – a SAP-based software solution, which makes legal entity management easy and user-friendly. We focus on effective costumer benefit, which we get from our constantly increasing customer community."
The new release is going to be presented live at zetVisions´ strategy summit for master data and legal entity management on April 21, 2016 in Frankfurt/Main. Further information on the agenda, conditions, and registration options are available at www.zetvisions.de/strategiegipfel2016.
The trend towards multi-domain master data solution is continuing
Advantages of Data Governance, data quality and costs
Heidelberg, December 9, 2015 – The trend of multi-domain solutions is going on for the management of master data (Master Data Management, MDM). This is what the Fraunhofer Institut für Arbeitswirtschaft und Organisation pointed out in their latest published “Marktstudie 2015 Multidomänen-Stammdatenmanagementsysteme“, to which participants also belongs zetVisions AG from Heidelberg, which is specialized in developing and implementing software for the master data and legal entity management. According to the study, companies are looking for new ways to increase their profit, to reduce costs and to improve their adherence to legal regulations. The usage of a multi-domain master data management system in order to generate one single data pot with business data which are not only across the group, but also neat and consistent, helped companies to a sustainable advantage in contrast to their competitors as well as it promises a high equity return.
Overview on all master data necessary
Thereby, a development is continuing which has been predicted for several years. As early as in May 2011, the US market research company Gartner did already say that, until 2014, about 70 per cent of the Fortune-1000-companies are going to use two or more systems of MDM in order to implement their master data strategies to keep their data company-wide under control. In January 2012, in a survey on MDM which was conducted by Forrester Research, 47 per cent of the companies said that the extent of their MDM program contained more than two data domains with which they need to cope. Another nine per cent had their focus on two domains (e.g. customers or products). Regarding the management of these data domains, the companies did mainly focus on solutions for single-domains in the past as they had different requirements for, for instance, customer and product master data.
This has changed, as highlighted by the Fraunhofer IAO. According to them, at the moment, many organizations aim for an extensive technical variant of a MDM system in order to use all the advantages of a multi-domain solution in the course of time.
Companies are facing the task of producing an integrated overview on customer, product, supplier and further master data (such as reference data), which are, however, stored in different data silos and various company departments. A successful multi-domain master data management requires data governance (obligatory basic conditions for data, data strategy), defined processes, and effective IT-support. It can be better accomplished with a master data management that is organizationally holistic: If, for example, processes, data schemes, and data quality rules of both, the domains customer and the product data are organizationally administrated by the same team, it may be more obvious and efficient in the long run to also do this within the same information architecture and, for instance, within the same central multi-domain system. Through the myriad of today’s data sources and the rapidly increasing amount of data, the requirements for the management of master data in different domains have adjusted insofar as that one can maintain them via one central multi-domain system by one master-data-team.
Advantages due to multi-domain solution
Apart from the integrated, company-wide data storage, multi-domain MDM systems can also support data quality rules and life cycle processes. When using diverse single-domain data silos it is naturally difficult to ensure the company-wide compliance of defined standards; It is significantly more difficult to maintain the overview on datasets and their information quality if there are two or three parallel systems. In contrast, if there is only one source for master data, the users have substantially less autonomy when it comes to the development of definitions and rules for data as the data architecture across domains is obligatory and transparent. The result: efficient governance-principles and cross-functional collaboration between the departments; both leads to a more efficiency and better resource allocation.
Apart from supporting the data governance through multi-domain MDM systems, neat master data leads to improvements in various operative core areas of a company such as, for example, marketing, sales, finance or external work. With the decision for a multi domain system, companies invest only in one solution, which does not only work for customer or product data, but can also be used perspectival by all the other master data categories (including reference data). The maintenance of various data silos is not there anymore; therefore, not only are costs reduced on acquiring, but also on running operations.
The survey of the Fraunhofer IAO also highlights the advantages of multi-domain MDM systems for the data quality: Essential rules for their verification (according to Morbay, 2011), such as horizontal completeness, syntactical correctness, consistency and accuracy (including up-to-dateness), can also be covered by isolated applications. However, the substantial surplus value of a multi-domain system lies within a significantly better integrity as the data based on reference data can be validated easier and better among themselves. Furthermore, the quality rules vertical completeness and normative consistency can be applied much more effective and can be controlled.
About the “Marktstudie 2015 Multidomänen-Stammdatenmanagementsysteme“
Master data management has been of much importance for the corporate management, but its potential is still not completely exploited yet. Successful master data management aims to keep all relevant company data neat, consistent, qualitatively high and always available. What new tendencies are there in the area of master data management? What goals are thereby pursued? In the current study of Fraunhofer IAO the functionalities of modern master data management systems are classified according to their developments in IT and their usage applications. With the help of quantitative questions, the study offers a market overview on current multi-domain master data systems and, consequently, simplifies the comparison of products for the users. Current master-data-systems and their range of features are clearly arranged for potential users and people that are interested in them. With this, the growing market as well as the increasing interest on master-data-management-solutions is regarded. The market review is supplemented by qualitative questions regarding the capturing of the trend in the area of master data management on behalf of the manufacturers in order to show possible directions of development of the master data management.
The study can be downloaded from the zetVisions website contact form.
Professionally managing Master Data
zetVisions shows the way at the international MDM Conference
Heidelberg, September 1, 2015 – zetVisions AG, which is based in Heidelberg, as a specialist for the development and the implementation of software for Master Data Management and for Legal Entity Management, is going to participate from 23rd September until 25th September 2015 as “Masterclass Sponsor” in the 15th conference of the “Data Management Series” in Amsterdam. The title of this year’s event is “Master Data and Enterprise Information Management. Take control over data assets and empower business”. Against the backdrop of exponentially increasing amounts of data, the conference is going to be primarily concerned with questions regarding Multi-Domain Master Data Management, the merging of structured data, unstructured documents and the corresponding economical applications (Enterprise Information Management) as well as with data governance and data quality. Apart from a workshop, a case study and a panel discussion, the experts of zetVisions are going to be available at zetVision’s exhibition stand. Therefore, the participants of the conference can ask them any questions they may have regarding Master Data Management or can get detailed explanations.
The workshop on 23rd September is concerned with the topic “Master Data Management: Besides the Mainstream Domains”. Besides the classic master data domains such as customer master data, material master data or financial master data, there are further so-called reference data, which can be used for groupings, hierarchies, and categorization of data. Reference data can exist within the company (for example as company structure data) as well as beyond the company’s boundaries (for instance as ISO-country code, as ISO-currency code, post codes). The participants of the workshop are going to talk about what reference data of that kind they see altogether and what the status quo regarding the management of these data in the respective company looks like.
In the case study on the reference data at an insurance company, on 25th September there is going to be a detailed illustration of the implementation of reference data, which are in this case consolidation entities, consolidation scopes and hierarchies, with the help of a SAP-based Master Data Management: What was the initial situation like? What does the target situation look like? Which improvements have taken place due to the supporting software? What advantages does that mean for the company?
Additionally, on 25th September, there is also going to be a panel conducted by Monika Pürsing, CEO of zetVisions. In the course of this panel, it is going to be discussed how a 360 degree view on master data and reference data can be successfully accomplished. Companies face the task of establishing an integrated overview on all customer master data, product master data, suppliers master data and further master data (reference data) which are, however, positioned in different data silos as well as in various departments of the company. A well-working Multi-Domain Master Data Management requires data governance (compulsory parameters for the data, data strategy), defined processes and efficient support by the IT. The exchange of the participants in the course of the panel is going to show what challenges exist regarding this issue, what needs to be paid attention to and how to put the topic into practice.
Further information about the conference can be found on the website (external link).
From various Data Pools to one "Single Point of Truth“
About the Implementation of a Master Data Management Solution based on SAP for Customer Master Data
Heidelberg, July 23, 2015 – Within this year’s Stuttgarter Softwaretechnik Forum, Erik Tischner, Head of Finance, and Dr. Marco Wittigayer, Head of Professional Services of zetVisions AG, are going to give a talk on the October 22, 2015 on the topic "About the Implementation of a Master Data Management Solution based on SAP for Customer Master Data". zetVisions AG, which is based in Heidelberg, is specialized in the development and implementation of software for Master Data Management as wells as for Legal Entity Management. This 11th software engineering panel in Stuttgart (SSF) is hosted by the "Fraunhofer-Institut für Arbeitswirtschaft und Organisation" and takes place from the October 20 until October 22, 2015. This year’s focus is on the topics Master Data Management, on Business Processes, and on Data Quality.
Customer Master Data Management at a solution provider of standard software
The presentation of zetVisions offers you the chance to get to know the Master Data Management solution "zetVisions SPoT". With the help of controlled processes, this software offers improved data governance, clear responsibilities, and increasing transparency by the documentation of master data modifications as well as information on data suppliers and data recipients. Furthermore, it is unique due to its flexibility and its customizability ranging from user interface, data model, and process (requests) to data transfer (interfaces). On the example of an internal zetVisions SPoT project, Erik Tischner and Marco Wittigayer are going to show how Customer Master Data Management (debitors) operates at a solution provider of standard software. Additionally, they are going to show how one gets to a "Single Point of Truth", and they are going to describe the scope of the project (procedure, team, time schedule). They are also going to examine the result as well as the "Lessons Learned".
The exhibition following the forum provides the opportunity to have a closer look at the products and services zetVisions AG offers. Additionally, the experts are going to be available for any questions you may have.
Focus Master Data and Business Process Management
This year, the Stuttgarter Softwaretechnik Forum is going to start for the first time with three seminars taking place at the same time on October 20. The seminars give an overview on the challenges and scopes of action regarding Master Data Management and information quality, business process management, and implementation of document-management-systems. The two following days of the event offer practical presentations of users and experience reports of current trends, concepts, and technologies. The topics of the second day of the event are the interactions of business processes and data quality management as well as the improvement of information quality. On the third day, it is going to be talked about the organizational linkage of Master Data Management and the introductory processes of such changes.
Further information on the SSF is provided on the website www.ssf.iao.fraunhofer.de.