Consistency is key for any business. That could be the way your brand presents itself online or the steps you take when assisting customers. If that sounds like something you want to improve, a single source of truth could be of assistance. Read on to find out more…
A single source of truth (SSOT) is a concept where data is captured throughout an enterprise and collated in one central location.
Different areas of the business have different information needs. However, what they collect could impact other areas in a variety of ways. So, it’s vital to have a central system that allows for access, sharing and integration of important decision-making assets.
There are many advantages to businesses using a single source of truth. These include:
Combining each aspect of the business into a central information hub provides a cleaner picture of business performance. It also gives insight into how specific areas contribute to goals and objectives. In addition, you can track particular areas and look at past data to forecast trends and future purposes.
With departments working in isolation, there is a bigger risk of duplicate data. Without an SSOT, for example, teams may not realise they are doing more work than needed. However, with an SSOT in place, data is accessed effectively so everyone can see, share and assimilate the information according to need.
It’s helpful for all business areas to have better access to company-wide metrics, and SSOT provides this. As a result, individuals and teams can see how they contribute to the broader company mission, which in turn promotes job satisfaction and improves morale.
With access to a centralised data hub, new strategies and business plans can be implemented with confidence. As everyone can see and access the data, there are less likely to be hold-ups in decision-making. Plus, employees may feel more confident in pitching new ideas at all levels.
One of the challenges with SSOT is creating a central hub and collating high-quality data. At iBase, our DAM software can make this process straightforward and hassle-free. Moreover, implementing a centralised digital asset location provides a clear structure for users. Plus, this feature-rich software also enables greater organisation and clearer systems for data management.
Security is another factor within SSOT, and DAM software takes charge of providing high-spec security to protect company information. You can also implement access based on roles and permissions to restrict sensitive information to only those that need it.
SSOT provides a helpful way to manage brand consistency and improve revenue. Contact us today for a free one-to-one demo to see how it could benefit your business.
