Reltio Named a Leader in the 2021 Forrester Wave™ Report for MDM

Your data fuels your business and your digital transformation. Your ability to run a digital business and make insightful decisions depends heavily on how well you manage your core data. Yet, these days with the proliferation of apps and data stores across cloud and on-premises environments, managing your data is not a trivial task. At Reltio, we know what is at stake and what type of simplifications and sophisticated data practices customers require to accelerate value from their data.

The recent report, The Forrester Wave™: Master Data Management, Q4 2021 notes that “Master data management helps accelerate digital transformation initiative.” The report helps businesses that are considering MDM solutions by evaluating 15 of the top MDM vendors across 24 key criteria. As the founder of Reltio, I am honored to see Reltio named a leader in MDM.  I believe it attests to our commitment to innovate and help our customers gain faster value from their data and maximize impact on their customers. 

The Forrester Wave™ for Master Data Management Q4 2021 report calls out that:

• “Reltio is a one-stop shop for MDM deployment with advanced capabilities… Reltio is a good fit for companies looking for a comprehensive, cloud-based MDM solution across multiple domains.”
• “[Reltio] leverages modern capabilities such as AI/ML, knowledge graph, and embedded analytics to support large and complex MDM deployments.”
• “The Reltio MDM solution is part of the Connected Data Platform, which supports all data types in real time for operational, analytical, and data science use cases.”
• “Reltio scored well in matching, context, governance, business templates, deployment, security, and scalability. Reference customers liked its capabilities around user-friendly search, ease to manage, and reliability, as well as its well-managed software-as-a-service (SaaS) platform.”

To me, these points accurately highlight Reltio’s strengths. I would like to share a few areas we have invested in and the critical capabilities that I hear from customers as the reasons why they chose Reltio among competitors as the preferred solution.

Tapping into the Full Power of Cloud Computing

Not all cloud offerings are created equal. Our cloud-native, multi-tenant SaaS offering allows access to continuous innovation and agility with top-notch enterprise-class scalability, high availability, and security without having to set it up and manage it. There are no hidden infrastructure costs and additional tools to enable high availability and disaster recovery (HA/DR) or security of the environment.

As a multi-tenant SaaS platform, automatic elastic scalability is a native capability of our platform and one of its unique differentiators. Today, we manage about 8 billion consolidated profiles across all our customers and serve up an API volume of 5.5+ billion API calls a month (approx. 66 billion API calls in the last 12 months). Our largest customer manages about 900 million profiles across their various tenants and deployments, which is one of the largest deployments of MDM in the world. Reltio serves several retail, travel and hospitality, and financial services customers that experience significant seasonal spikes in their usage. Reltio can automatically scale its infrastructure for such seasonal variations in usage without any additional effort required from our customers.

Managing your core data in the cloud also opens the door to easier cloud adoption for other applications and analytics solutions. Many customers, including those in financial services and healthcare, say using Reltio allowed them to adopt other cloud solutions more quickly and implement their “cloud-first” strategy.

Rapid and Comprehensive Real-Time Integration for Real-time Operations

How quickly and easily you can connect diverse systems determines how well your MDM solution can keep up with your evolving business requirements. Reltio’s integration capabilities consist of native components, including no-code UI-based tools and prebuilt application, analytics, and enrichment connectors. In addition, we provide connectors for integration platforms like Mulesoft and SnapLogic.

Recently, we significantly enhanced integration capabilities by offering a low-code/no-code integration and automation capability in our core platform. The new Reltio Integration Hub offers 1,000+ connectors and the ability to develop real-time integration and data orchestration workflows with its intuitive UI. It is designed for citizen integrators— without programming skills—to reduce the need for your IT resources. With automated data orchestration and activation via simplified user experiences, you can get more value faster from your data assets. We also provide real-time APIs for all functionalities and enable near-real-time data distribution via message queues on AWS, GCP, and Azure platforms. In short, we expanded and modernized our integration capabilities to support different use cases and skill sets.

Multiple Use Cases and Data Domains

Business processes are complex, and data management cannot be limited to a single domain or use case. We support both operational and analytical MDM use cases with a rich set of adapters and real-time streaming APIs. Our customers integrate Reltio with their core business applications such as CRM and ERP to run business processes such as customer service and sales forecasting using trusted data. With Reltio APIs, our customers also build web and mobile applications that leverage unified, timely data in Reltio. With connectors for cloud data warehouse solutions such as Snowflake and Redshift, you can fuel analytics initiatives with real-time, insight-ready data. Deeper analytics is enabled by consolidating reliable and accurate data from master profiles, interactions, and transactions, as well as third-party, public, and social media sources.

To support sophisticated business operations and make data-driven decisions, 360- enterprise views across multiple domains are required. You need to know the relationships between different data domains in a holistic way to better understand your core business operations. We deliver this 360-view capability for any entity, person, organization, product, and location for B2B and B2C environments with out-of-the-box data models and solution accelerators. With built-in knowledge graph technology, you can visualize and manage any number of attributes and relationships. We also provide prebuilt vertical data models such as Life Sciences Customer 360 with the Medicinal Product, Product Group, Promotional Product, Substance, and Organization data models.

Continuous Data Quality and Governance

MDM cannot serve an organization effectively without data governance policies incorporated into its processes. And, high data quality is a vital requirement of a trusted data foundation for today’s digitized and complex businesses. We offer a comprehensive set of capabilities to help our customers improve data quality and streamline data governance.

Lack of quality-assuring data governance, causes businesses to miss growth opportunities and lose productivity. According to McKinsey, “average of 30 percent of total enterprise time was spent on non-value-added tasks because of poor data quality and availability”. IBM estimates poor data quality costs businesses in the US over $3.1 trillion annually. We help you take control of data quality by offering cleansing, ML-based matching and merging, deduplicating, standardizing, and formatting capabilities. Our data validation framework enables you to set business rules to maintain data quality and minimize data errors across the enterprise. You have constant access to highly-curated data by using our entity resolution algorithms with human-in-the-loop processes for data governance and continuous improvement to data quality.

As soon as we ingest the data in our platform, it can be trusted to support your business decisions. And we maintain its quality throughout its ongoing use for daily operations and key business outcomes. For example, by automatically removing duplications in their accounts data, we help our customers prevent poor customer experiences and reduce the risks of data privacy and fraud. Our customers make better decisions, optimize processes, and compete effectively in their markets using a high-quality, unified data foundation.

For data governance, we give you complete control over how your master data is managed. You can create the rules that ensure master data quality, consistency, and security. We automate the enforcement of them and provide reporting for compliance. Using our APIs and user interface, you can create, publish, automate, and integrate various governance policies, such as:

• Data access
• Data quality thresholds and policies
• Data validation
• Metadata-level enforcement
• Attribute-level enforcement
• Enforcement of data policies for compliance
• Policy change management and impact analysis through reporting and analytics

Every Reltio customer has development, test, and production environments to evaluate the impact of policy changes before they implement them.

Our customers achieve agility in governing their data by tapping into the power of an easy-to-use, comprehensive, and flexible solution. We help them make their core data trusted and actionable. We enrich it with external data to increase its impact with more context. And we maintain that impact via continuous data quality, easily-configurable governance policies.

Built-In Enterprise-Class Security, Compliance, and HA/DR

As I mentioned earlier, we bundle the entire security program into our SaaS offering, reducing the cost and complexity of security, compliance, and risk programs. Some of our certifications include SOC 1, SOC 2, CFR21 Part 11 for GxP, HITRUST, HIPAA, EU and Swiss Privacy Shield, GDPR, CCPA, and TruSight for Financial Services. Of course, 24/7 security monitoring, threat protection, and data loss prevention are all built-in to our solution. In-motion and at-rest encryption support with customer-managed encryption keys are also available.

This entire program is run as a part of the SaaS offering, where you can include Reltio into your overall security posture without any additional investment and simplify compliance. Our commitment and differentiator is to take this significant burden off your shoulders so you can focus on innovation and maximize your business outcomes.

Value Delivery via Tight-Knit Customer Success, Professional Services, and Support Offerings

Last but not least, what helps us stand out in the MDM landscape is our laser focus on accelerating value from data assets. That’s our core business. To carry out our promise, we organized ourselves to enable fast value delivery. We set up a unified “Customer Success Organization” with a sole emphasis on effectively and efficiently driving value across the entire customer journey. This team works closely with our Professional Services team and enables rapid deployments. Because our SaaS offering is simple to deploy, our customers can avoid lengthy and resource-intensive implementation projects. Thanks to our organizational alignment on customer success and modern cloud-based offering, our customers realize a return on investment faster than traditional MDM solutions.

Our Support organization is also a core part of this Value Delivery team. We offer three different success plans based on your unique needs. You can change the success plan from Standard to Premium and Premium to Concierge at any time. This year we made significant investments in our Support organization, increasing the staff 75% YoY with 50% growth in the US. We have already seen significant improvements in our internally tracked metrics and expect more.

We enable partner-delivered professional services to scale and accelerate the deployment and introduce deeper industry expertise. At Reltio, we are honored to work with major SI partners, including Accenture, Cap Gemini, Cognizant, Deloitte, Infosys. PwC, and Wipro, as part of enterprise architecture modernization and enterprise data fabric initiatives across the globe.

These are just a few areas that we continue to invest in and our customers value in working with us. We believe your data should propel your business forward, and we are proud to have been named a leader in MDM by Forrester Research. We partnered with many industry leaders, such as AstraZeneca, Shiseido, and Petco, to name a few, in their successful journey to fuel digital transformation with a trusted data foundation. If you would like to see our offering in action or hear about our innovation roadmap, I invite you to reach out to talk with our experts.