Unlike materials which are physically stored in inventory and handled and used for direct consumption, service masters describe externally procured intangible goods used for direct consumption. These services include maintenance tasks such as machine repair, plumbing, painting and housekeeping, transport and logistics, as well as consultancy services. The Midas MDM service module provides a software solution to manage and control this entire process, be the services planned or unplanned. Midas creates a service dictionary that is bespoke and based on corporate activity, though adhering to spend classification structures, enabling the generation of consistent and structured service descriptions.
The Midas MDM service master module utilises the dictionary to record the service category, description and unit of measure, and to create master data that provides a single point of reference, enabling the same record to be used repetitively. The approvals workflow for new services requests are managed inside Midas, including information such as Tax Indicators and Purchasing Data. On completion of the workflow process, compliant data and standardized tasks are syndicated in real-time at client-level to your ERP.
