Mexico City, Mexico. February 15, 2024. NEORIS, the global digital accelerator with more than 20 years of experience in digital transformation, and Stibo Systems, a global leader in master data management, recently formalized a strategic alliance with the aim of opening new business opportunities in Mexico and promoting the use of innovative technologies in the country's retail, mass consumption and manufacturing industries.

This new alliance represents an important step, especially with recent Statista figures noting that the manufacturing industry in Mexico represents close to 18% of Gross Domestic Product (GDP) and is a key sector for the growth of the national economy. In 2022 alone, the sector attracted US$14 billion in foreign direct investment and employed more than nine million workers.

Additionally, the retail sector registered a GDP of 3.14 billion pesos during the second half of 2023. These trends are highlighted in the Euromonitor International study “The Future of Retail” which indicates that Mexico’s total retail sales will grow by 40% in the next five years, 15% more than in the rest of Latin America. Meanwhile, e-commerce sales will increase by a striking 58% in the same period.

Stibo Systems has chosen NEORIS as a strategic partner for the implementation of its solutions, due to the recognition of the digital accelerator within Mexico and elsewhere along with its solid consulting track record and successful implementation of projects related to the utilization, monetization, architecture, structure and governance of data.

“This strategic collaboration with Stibo Systems is a sign of our commitment to supporting and innovatively accompanying the growth of companies in Mexico. It’s in our DNA to work to boost the potential of the region, promoting transformation and generating a lasting impact,” says Diana Sainos, Vertical Director Data & AI Mexico at NEORIS.

Furthering this theme, Germán Escobar, Vice President, Latin America for Stibo Systems, states, “the alliance with NEORIS represents for Stibo Systems the opportunity to promote innovation in the Mexican business landscape, taking advantage of the experience of both companies and the common objective of promoting growth and excellence in data management.”

The Alliance and Projections

Both companies have experienced exceptional synergy, with shared common objectives making it easier to address challenges and obtain clear results for companies when it comes to master data management. The alliance focuses on NEORIS' Data & Analytics vertical, under the direction of Nir Kaldero, the company's Chief Data, Analytics, & AI Officer.

In the future, an expansion of collaboration to other areas and regions is planned, as part of a long-term vision. This expansion takes into consideration strategic countries including Colombia, Chile and Peru, among others. The main objective will be to concentrate efforts on the correct management of master data, which is essential for the effective execution of a business. This type of data covers the detailed description of people (customers, employees and suppliers), places (offices and locations) and things (products and assets).

It is crucial to highlight that, although these represent only a fraction of an organization's total data, they constitute a vital and highly valuable part. The management of this type of data entails significant complexity, but at the same time, offers numerous additional benefits. In addition to helping organizations make critical decisions and answer key questions, proper master data management promotes operational efficiency, improves reporting accuracy, optimizes business processes, and strengthens customer relationships.

With this approach, the expansion of this alliance will not only denote geographical growth, but also a considerable advancement in master data management capacity for all parties involved. This joint effort aims to provide organizations with the necessary tools for more informed and strategic decision making, thus allowing greater success in their operations and a sustainable, competitive advantage in the market.