Today, SAP Master Data Governance (MDG) provides applications to centrally create, change and distribute master data. Being highly integrated with SAP Business Suite and S/4HANA.
MDG re-uses data models, business rules and process logic. It provides pre-build domain-specific content and a flexible framework to define data models, processes, and user interfaces also for custom-built master data.
If you'd like to be informed on the way ahead, you may check the product roadmap for SAP MDG, providing the current picture of the solution today, planned innovations and future trends.