What is DRM?
Implementing DRM enables organizations to achieve a standardized and centralized management of their metadata for various entities and attributes (accounts, products etc.). The approach for achieving this standardization involves three essential components: People, Processes, and Technology. In the Data Restless blog we will share tips, tricks and best practices covering Oracle EPM topics, but not only.
As described by Rahul Kamath, the DRM Product Manager at Oracle, DRM evolved from an analytical MDM solution to an enterprise master data management solution that served a variety of front office, back office and performance management use cases.
In the front office, customers utilized DRM to master sales territories so they could optimize equitable distribution of sales opportunities across salespersons. B2B companies managed corporate hierarchies to align accounts with sales teams, understand aggregate credit risk across client entities, and model cohesive sales strategies based on a data-driven understanding of complex, ever- changing, customer organizations.
In the back office, customers utilized DRM to model structural and business model changes. Organization leaders and operations experts modeled legal entities, employees and cost centers to propose, approve and deploy organizational changes. Financial systems leaders commissioned the use of DRM to redesign their chart of accounts and modernize their business model to compete better. Others used this platform to simplify and reduce their sprawl of GL applications across operating currencies and business divisions, to push down processing to sub-ledgers and refocus their GL to enable better group level business insights.
Looking at the EPM developer blogs that exist in the Oracle community, we noticed that there weren’t many specifically focused on Oracle Data Relationship Management. That might be the case since DRM is considered a pricey Oracle product, used largely by big organizations who have been capable of demonstrating the ROI of a centrally managed and integrated metadata management tool.
The main reason behind the Data Restless blog’s creation is to share tips and tricks on the Oracle DRM (MDM) application. Apart from the information that will be posted in the Data Restless blog, DRM (MDM) developers and product managers are encouraged to subscribe to the following blogs, check out the ODTUG presentations and videos as well.
Oracle MDM Blogs
- Kate Helmer’s MDM Blog Posts
- Kevin Black’s MDM Blog Posts
- Brian Dandeneau’s MDM Blog Post
- The Unlocked Cube’s MDM Blog Posts
- US-Analytics MDM Blog Posts
- TopDown MDM Blog Posts
- Perficient MDM Blog Posts
- Checkpoint MDM Blog Posts
- PARC Consuling EDMCS Blog Post
ODTUG KScope DRM Presentations
Oracle Enterprise Data Management Cloud (DRM History & Cloud Overview) by Rahul Kamath, Oracle Corporation
Set the DRG Genie Free! It Will Ask, “Ever Had a Governance Friend Like Me?!, by Neviana Zhgaba & Rakesh Kandagatla, General Electric
How to Best Manage Your Relationships…With Data: Building a Strong Foundation for PAREXEL Using Oracle Data Relationship Management Best Practices by Julia Radovani, Peloton Group Consulting
Delivering an Enterprise-Wide Standard Chart of Accounts with Oracle DRM by Gary Crisci, General Electric
Introducing Dimension Management Cloud Services (DMCS)” (DRM Cloud) by Robin Peel, Oracle Corporation
GE Talks About Enterprise Data Governance as the Cornerstone of GE’s Back Office Transformation by Gary Crisci, General Electric #OOW14
Sr. Technical Product Manager
Finance EPM at General Electric