Information is power and incorrect information can change the outcome of very important data. With incorrect information people could get hurt, money could be lost and a lot of mistakes can be made. This is why it is important that a cdm charge master be created for all of your transactions. With this change master properly controlled the accuracy of data can be assured.
When dealing with data it is important that it is organized. The data should be stored in one particular location, a set of specific people should have access to modifying this information, and finally, have an administrator who has master access that needs to be approved before major changes to the data are approved.
Create an update schedule
Data will be entered into the system on a regular basis. As each record is added to the system have a checkpoint where it isn’t committed to the master until reviewed by a manager or core person. This update should also be done at the same time every day. So, for example the last record for the day needs to be added by five o’clock and anything else won’t be allowed in. Then, have that person go through it and do the update making sure that the data incorporated correctly.
Keep all prices and master data consistent
Having random prices or different prices in different departments can quickly return inaccurate data. Before anything is entered or changed all of your master data needs to be approved by a committee or the owner of the business. When doing updates make sure to test the update on a test computer before implementing it across the network. If a system crashes or is not working correctly, make sure that all of your backups are up to date and ready to install.