Data management

The currency of today's economy is data.  Information about customers, products, sales, business partners, competitors, and suppliers drive the business decisions towards performance and profitability.  In a global marketplace where systems, people, and processes are interconnected, quality data is an organisation’s most valued asset.  Poor management of the quality of data can have an adverse impact on an organisation's financial position, legal and regulatory compliance, service delivery standards, and customer satisfaction.

Information volumes are projected to grow by 60% annually, and a greater proportion of this data will be unstructured in nature due to the rise of social media, new communications channels, cloud sourcing models, mobile devices and smartphones.  The creation, storage, and dissemination of quality content will be even more difficult, and the exponential growth in this unstructured data will result in an increase in data privacy, security, and governance issues and greater difficulty in making data driven decisions.

At PwC, we utilise well established methodologies, sophisticated tools and techniques to facilitate a robust and detailed analysis and reporting of data, which will assist you to understand how your data can be used strategically to achieve your business objectives and improve overall business performance.  We can help you establish the data management organisation and governance framework to:

• Better understand the quality of your data and utilise business analytics to make better decisions faster;
• Uncover the drivers of avoidable costs, revenue leakage, and inefficiencies;
• Verify the proper functioning of a system or process by reviewing its underlying data;
• Implement continuous transactions monitoring of key business performance and risk indicators on a real-time basis - prevention not just detection;
• Cleanse and migrate accurate and complete data during system implementations;
• Achieve regulatory compliance through provision of well controlled and timely data and reporting.  This is particularly important under certain regulatory requirements such as FATCA, Basel III, Solvency II; and
• Identify and prevent potentially fraudulent transactions.