Synchronise your data: a Single Source of Truth
Our Master Data Management solution connects retailer and supplier systems to synchronise your data. It provides a Single Source of Truth (SSOT).
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Why poor data workflows are a risk
When price, product and promotional data comes from multiple systems, in varying formats, it leads to complexity, inaccuracy and a reliance on manual processes. As a result, this can cause data errors, increased management costs and the need for resolution procedures. Your margins are put at risk.
Existing workflows need improving, how rascal helps
Scroll down to see two retailer models, followed by our streamlined rascal solution…
Retail model 1
explanation
In this scenario, the retailer has tens if not hundreds of suppliers. Each supplier has numerous internal systems and processes for providing data. This creates disordered data sets flowing into the retailer, each one independent of the other. Retailers need to sync and harmonise these independent data sets to ensure accuracy, and to extract maximum value from their systems. Managing these multiple processes, systems, and data sets is complex and can lead to wasted hours and errors.
Retail model 2
explanation
Here, a buying group or wholesaler provides the bulk of the products and subsequent data to the retailer. This typically applies more to convenience, franchise and independent retailers. The retailer also tops up their shelves with self-sourced products, creating a bespoke process for a small amount of their products and data. The management of self-sourced product data is typically a manual process and introduces more risk of error through data entry and handling. This disordered data reduces process efficiencies, while increasing costs and labour.
The rascal model
explanation
rascal provides a single point of entry that connects a retailer and all its suppliers. This ensures product, price and promotional data is shared between all parties in a consistent format, using a controlled process. Our solution feeds existing retailer and supplier systems. This means there’s no need to replace existing technology to achieve a SSOT across the retail network. With built-in rules, and clear visibility of changes, retailers can be sure that their margins are protected. What’s more, with everyone working from the same data, invoice discrepancies are greatly reduced to enable smoother reconciliation, timely payments to suppliers, and reduced queries.
In this scenario, the retailer has tens if not hundreds of suppliers. Each supplier has numerous internal systems and processes for providing data. This creates disordered data sets flowing into the retailer, each one independent of the other. Retailers need to sync and harmonise these independent data sets to ensure accuracy, and to extract maximum value from their systems. Managing these multiple processes, systems, and data sets is complex and can lead to wasted hours and errors.
Here, a buying group or wholesaler provides the bulk of the products and subsequent data to the retailer. This typically applies more to convenience, franchise and independent retailers. The retailer also tops up their shelves with self-sourced products, creating a bespoke process for a small amount of their products and data. The management of self-sourced product data is typically a manual process and introduces more risk of error through data entry and handling. This disordered data reduces process efficiencies, while increasing costs and labour.
rascal provides a single point of entry that connects a retailer and all its suppliers. This ensures product, price and promotional data is shared between all parties in a consistent format, using a controlled process. Our solution feeds existing retailer and supplier systems. This means there’s no need to replace existing technology to achieve a SSOT across the retail network. With built-in rules, and clear visibility of changes, retailers can be sure that their margins are protected. What’s more, with everyone working from the same data, invoice discrepancies are greatly reduced to enable smoother reconciliation, timely payments to suppliers, and reduced queries.
key statistics
Sources
Everyone benefits
Our Master Data Management solution connects with existing systems to synchronise data and processes between retailers and suppliers. It provides a Single Source of Truth (SSOT), delivering simplicity, visibility and control for the benefit of everyone.
Testimonials
“Since the introduction of rascal’s weekly shrink reporting, we have been able to identify a number of causes of shrink and take action to reduce. We are able to look at the data on both a macro and micro level to correct issues identified at store-level as well as supplier-level, which has helped to realise approximately £2 million reduction in shrink year-on-year. rascal’s insight reporting system is invaluable. It permits instant access to vital data with a number of metrics which allows me to plan my approach, working with suppliers to get maximum profitability.”
Buying Manager