Efficient master data management with zetVisions SPoT

Merck KGaA

Merck generates a large amount of reference data in the context of Group consolidation and external reporting. The company defines reference data as financial master data with a focus on consolidation and reporting.

This reference data is generally used for groupings, hierarchies and categorizations of data. They exist both within a company - such as company structure data - but also across company boundaries: for example as ISO country codes, ISO currency codes and zip codes.

Together with Merck KGaA, we created a consistent data source - a "single point of truth" for all reference data, associated documents and other information from the Group. Our master data management software SPoT helps to create this single point of truth.

Thanks to zetVisions SPoT, our master data management processes are defined and the data governance rules ensure clarity.

Andreas Bieker Group Data & Apps for Finance Merck KGAA

The challenge

Before the introduction of zetVisions SPoT, Merck used purely manual processes for its financial master data: Excel-based lists were imported into a wide variety of reporting systems for this purpose - combined with the problems of synchronization and the different technical options that the systems offered:

Three products from three manufacturers were used. There were no compatible interfaces and different data models. There were different "leading systems" for the reference data, from which the data was distributed to various subsystems.

Our mission

A uniform and consistent data source, maximum transparency, minimized sources of error and simplified processes.

Strategic data management

Customized. Detailed. Flexible.

Single Point of Truth

The solution

With the introduction of the zetVisions SPoT master data software, the different systems were replaced by a "single point of truth" - and a consistent data source was created. Today, master data is created and managed in one system and maintained directly in the hierarchies by the division managers. Clearly defined processes and data governance rules ensure the necessary transparency, while the dual control principle minimizes errors.

The greatest benefit is data quality and consistency, the avoidance of errors and reworking.

Andreas Bieker Group Data & Apps for Finance Merck KGAA

Merck KGaA

Merck is the oldest pharmaceutical and chemical company in the world and was founded in 1668. Merck is one of the leading science and technology companies in the fields of healthcare, life science and electronics.

Around 62,770 employees develop genome editing technologies, find ways to treat diseases and provide applications for smart devices. In 2021, Merck generated sales of 19.7 billion euros in 66 countries. The founding family is still the majority owner of the listed company based in Darmstadt, Germany.