How COMPASS Is Disrupting the Mid-Market Space
Implementing effective data governance practices and programs can feel like an insurmountable mountain for mid-sized companies. And if you are at the helm of affairs at a mid-sized business, you are already familiar with the perpetual strain of limited resources and expertise and navigating complex data environments while keeping up with agility and innovation demands.
These are among the primary data transformation challenges faced by mid-sized organizations today. However, a new player in the market is addressing these roadblocks, offering a comprehensive data governance management system that can be tailored to an organization’s unique data governance needs:
Why Data Governance Problems Must Be Marked ‘Critical’
Whether you’re running a small startup, a mid-tiered company, or a multinational major, data governance is critical to your business. It’s the key to keeping your data fit-for-purpose, safe, secure, and reliable throughout its life cycle. Not only does it help you meet regulatory requirements, but it also helps you identify and mitigate risks associated with data.
The rapid digitalization and the exploding volumes of data in recent years have evolved governance from a need to a strategic imperative. While you can streamline your data management processes and reduce the time and resources needed to manage data, you will also ensure that your data is accurate, complete, and consistent across your organization, with effective data governance.
COMPASS: A Disruptor in the Mid-Market Space
Sandhill’s product COMPASS offers a centralized platform for managing pre-built content, templates, policies, and standards that can be tailored to an organization’s unique data governance needs. The comprehensive data governance solution, backed by over three decades of consulting experience, can streamline the data governance process and ensure consistency across the organization.
“Data governance is not just a necessity, but a strategic asset for mid-market companies, and we aim to provide a comprehensive data governance solution,” says Simon Carter, CEO of Sandhill Consultants.
The disruptive technology in the governance space makes way for rapid deployment, operation, and analytics of your strategic Data Governance Program for improving business performance.
Not only does this powerful platform seamlessly integrate with other data management tools, including data cataloging, lineage, and quality tools, but it also provides unparalleled oversight of your entire data management ecosystem. With COMPASS at the helm, you can rest easy knowing that your data governance policies and standards are being upheld across all your data management initiatives.
Overview of COMPASS’ Core Features
By providing a centralized knowledge-based platform, COMPASS delivers data governance artifacts and templates such as charters, processes, RACI roles, policies, standards, metrics, and surveys. It is an easily searchable system that allows collaboration across the organization and helps accelerate the adoption of a DG Program.
COMPASS’ core features include:
- Data Governance Policy Management: Provides a central repository for prebuilt Data Governance policies and standards that can be customized to meet an organization’s needs. Enables the creation, review, and approval of policies and standards across the organisation.
Benefit: Ensures consistency, visibility and collaboration across the organisation. Help meet regulatory requirements and mitigates risk associated with data.
- Content management: Contains pre-built content, templates, and workflows for creating all Data Governance oversight artifacts, procedures and guidelines. Organizations can customize tailor these to meet their specific needs.
Benefit: Streamlines the process of creating data governance artifacts and helps accelerate the adoption of a data governance program.
- Workflow: Offers workflow automation for governance and compliance, including approval workflows for policy and standard changes.
Benefit: Assists in enforcing standards and reduces the time by having consistent processes.
- Collaboration: Supports collaboration among stakeholders; such as data owners, stewards, and subject matter experts. It enables them to participate in DG artifact creation, review, and approval workflows.
Benefit: Facilitates teamwork and engagement among stakeholders and ensures that the Data Governance platform is relevant and current.
- Data Governance Analytics: Provides analytics capabilities for tracking and auditing data governance activities and ongoing running of the DG Program.
Benefit: Enables data-driven decision making by providing visibility into data governance activities and outcomes.
- Integration: Integrates with various data management solutions, including data cataloging, and Data Modeling tools.
Benefit: Provides a flexible method for integrating with existing data management tools and systems, providing a unified approach to Data Modeling, Data Cataloging and Data Governance.
- Customization: Allows for customizing data governance artifacts, procedures and guidelines to meet an organization’s specific needs.
Benefit: Enables organization to tailor data governance artifacts, policies and standards to their unique requirements and ensures they align with business goals and objectives.
- Role-Based security: Provides role-based access controls to ensure data security and compliance with regulatory requirements.
Benefit: Protects against unauthorized access to the Data Governance system while providing permissions based on DG role.
- Audit and Monitoring: Provides visibility into auditing and modification. It helps organizations track data governance activities and helps ensure compliance with policies and regulations.
Benefit: Enables organizations to monitor and measure the effectiveness of their data governance program and identify areas for continuous improvement.
While the challenges of implementing effective data governance practices are unique and many, the importance of data governance cannot be overstated.
To unleash the true power of your data governance program,
Please email us at: info@sandhillconsultants.com, to discuss COMPASS today.