CDQ Data Sharing Community
“Shareconomy” for Better Customer and Supplier Master Data
Are you sharing cars, rides or vacation rentals? This is the age of sharing, and it’s now coming to data quality management: why maintaining your customer or supplier data yourself, when you can share the burden with others?
CDQ has set up a Data Sharing Community (former called Corporate Data League, CDL), where companies can share Data Quality Rules and best data with each other or enrich their own data with public sources, all in a secure and highly scalable cloud environment: The CDQ Data Quality Tools. In short: Our community offers Data Quality as a Service (DQaaS) for business partner data and a broad range of Data Management Services.
Data Sharing – the Best Way to Better Data
Every company has customers and suppliers, and every company has to work very hard to stay current with data changes. 90% of all data was created in the last 2 years, and the pace of change overwhelms even the most efficient data maintenance operations. Data Sharing beats manual data maintenance both in efficiency and in quality – that’s why we call it the best way to better data!
Sharing is a journey with 3 phases
Companies who embrace Data Sharing typically embark on a 3-part journey:
- Phase 1 - Sharing of quality rules: companies receive 100% transparency on data quality by comparing their data against 1000+ quality rules. The rules are shared across the community and detect for example duplicates or typos
- Phase 2 – Shared public data sources: gaps in data records can nowadays often be filled with public data – dozens of sources are already available. Some data like government registries are free, some premium data like Dun & Bradstreet is not. CDQ works as a broker into this world of Open Data
- Phase 3 – Sharing of hand-validated records: Many companies do manual quality checks of sensitive information before they allow high-value transactions to go through - like wiring millions into a new bank account. Members of the CDQ Data Sharing Community can share these validated records with each other, providing highest quality levels for a fraction of the cost
Better Customer & Supplier Data
- Better business partner data quality
- Automatically enriched records
- Fewer errors, fewer duplicates
- Less manual maintenance
- Clear governance with built-in compliance
- Automated DQaaS workflows
Sharing is Already Here: Leading Companies are Members of the CDQ Data Sharing Community
Data Sharing is a Journey, and Starting is Easy! From Silos to Peer-Level Sharing
Data Silos (Starting Point)
Typical staring point in many companies: Data is managed in silos, data quality is an in-house challenge
- Customer Master Data and Vendor Master Data spread over several databases
- Manual maintenance
- New duplicates and outdated records every day
Shared Quality Rules
Companies receive 100% transparency on Data Quality by comparing their data against 1,000+ Data Quality Rules
- Shared quality rules from leading experts used to analyze and clean data
- Data quality cockpit
- CDQ Cloud with your mirrored data as single source of truth
Shared Data Sources
Data Quality is delivered as a service (DQaaS): Filling gaps in data records with public data – dozens of Reference Data Sources are already available. CDQ works as a broker for open and premium data
- Personal change log for easy updates
- Data enrichment with Open/Public Data
- Access to premium data sources:
Shared Data With Peers
Members of the CDQ Data Sharing Community can share validated records with each other, providing highest quality levels for a fraction of the cost: each data needs to be validated only once instead by everyone
- Peer-based sharing of validated data with cross-company work-flows and trust scores
- Intelligent data improvement with machine-learning/AI
- Critical alerts from peer-group, e.g. for Payment Fraud
Shared Public Sources: Where to Find the Best Data
Governments are increasingly opening their official registries. Benefit from Open Data and use the CDQ Data Sharing platform as your broker! We have integrated over 40 external, trustworthy Reference Data sources into the platform, such as
- The VAT Information Exchange System (VIES) from the European Commission
- France Register of Companies (all French companies, incl. Locations)
- UK Companies House (all companies in the United Kingdom)
- Global Legal Entitiy Identifier (global list of companies that are active in the finance market)
- Canada Corporate Registry
CDQ Sample Vendor in Gartner Hype Cycle
In the Hype Cycle for Data and Analytics Governance and Master Data Management 2020, CDQ was recognized among three vendors in the Interenterprise MDM category. CDQ as a Sample Vendor in Gartner Hype Cycle 2020
Easy access to Dun & Bradstreet data pool
Members of the CDQ Data Sharing Community not only profit from the integration of various open data sources to improve their business partner data, but now also get easy access to the Dun & Bradstreet data pool. Dun & Bradstreet data for Data Sharing Community members
Data Sharing Business Case Calculator
The shared maintenance of corporate master data saves not only time, but also around 30% of costs. How much bottom-line impact does that mean for your company? Find out here! Calculate your data sharing business case now!
Data Quality Tools
CDQ's cloud-based Data Quality Tools enable fast and reliable analyses, validation and enrichment of your business partner master data. Request your personal demo now! Data Quality Tools for better business partner dataSAP Recommends Data Sharing to Its Customers
Now the Shareconomy has also reached the area of business partner data: In its current blog post, SAP introduces the data sharing economy and explains the principle of the collaborative use of corporate data. ▶ Using the Sharing Economy to Improve Supplier Data
Your Data is Secure
Latest cloud encryption technology protects your data, and disclosure to sharing peers is strictly managed. Sharing is secure and efficient!
Contact us for more information!
Customers talking about our Data Sharing Solutions
"Sharing proven bank account data saves significant time, compared to contacting the customers/vendors directly to verify new bank accounts. "Data Shareconomy" is an effective approach to unlock this source of trusted information."
Philippe Baumlin, Manager of Global Master Data Strategy, BASF
"We have set out on the journey with the Data Sharing Community together with a number of peer companies. We are convinced that the community will support us strategically in bringing our data management into the next generation."
Jens Peter Henriksen, Global Process Owner Master Data - Vendor Master Data, Bayer
Contact & Additional Information
Are you interested in Data Sharing and becoming a Community member? We are happy to show you how easy and efficient Data Sharing is for your company!
How CDQ Business Partner Lookup Works
Watch this video to get a feeling how you can easily maintain your customer and vendor master data:
Accurate
Fast and
Without duplicates!
See how the web app works and how it functions integrated in a SAP system. Find out which successful companies already rely on CDQ Data Management services.
Data Quality Solutions
Our innovative Data Quality Solutions deliver Data Quality as a Service (DQaaS) and help you to improve your customer and supplier master data in three stages, saving time and money. Getting started is easy! Improve your data quality now!
Data sharing for better data quality
CDQ's innovative data sharing solutions ensure better data quality of customer and vendor master data with less manual effort. Taking a first step is easy! Data sharing for better data quality
Success Story: Data management at Schaeffler Group
In an article recently published in the specialist magazine "Big Data Insider", Markus Rahm provides insights into data management at Schaeffler. And how it has evolved with the help of CDQ. Data Management at the Schaeffler Group 9008 St. Gallen
Switzerland
88045 Friedrichshafen
Germany
