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Single Source of Truth (SSOT)
“Data’s value comes from its use, not its acquisition.”
Todd Park, entrepreneur and former Chief Technology Officer of the United States
From small businesses to lower middle market companies, when it comes to unified use of the most accurate data and Business Intelligence information, one dilemma is shared by all: How do you streamline access to your company’s most essential and needed operating data?
SSOT or Single Source of Truth is a philosophy and operational practice of data management where your critical information is centralized in one location through the integration of various systems onto one platform.
An SSOT becomes a gatekeeper of sorts, the authoritative repository for data that ensures your team, however small or large, is accessing and using the same information for decisions.
It is data made easy to share, in one place: Simple storage and export features as well mobile notifications for curated data sets.
Your SSOT can also support your data governance framework and protocols. Once established it can promote your company’s culture by preventing silos, discouraging information hording, reducing risks from conflicts in usage, facilitating interoperability, and motivating productivity.
SSOTs are core to good governance.
They streamline security protocols by pulling in disparate systems (databases, spreadsheets, apps) into one singular access point.
You spend less time searching for or reconciling information, thereby transforming your reporting and auditing processes.
