Ensure master data is consistent

Master data is crucial and drives an organisations processes, being both an enabler and a control point. Anyone who has implemented an ERP system will know the importance of master data.

What you can do
Set standards for your master data

• Formats for capitals, abbreviations, addresses, post codes, tax numbers, contact details, bank accounts, etc
  

Cleanse your master data

• Check that all master data fits within your standards, if not, fix it
  
• Ensure there are the minimal number of vendors, customers, materials, etc., remove any duplicates
  
• If you can not delete files, block any that have not been used for 13 months
  
• Avoid “sundry” accounts - the volume of transactions will be higher than you expect and they are hard to check

Place controls over the creation and maintenance of master data

• How a master file is created and who can create it
  
• If it is a significant control point then maintaining master data should be separated from transactional access (eg: setting up vendors should be separate from processing invoices and making payments).

Segregate maintaining master data from other roles to improve focus and control

• Trained personnel should maintain master data
  
• Database maintenance is a specialist skill set. Personnel should be methodical, detail focused and almost pedantic.