Wanting to get the most from your teams is a no brainer. After all, who doesn’t want their employees to be as productive as possible? And yet, the vast majority of businesses will, at some point, suffer from productivity problems.
The causes can, and will, vary from company to company. However, there remains a universal truth that most fall foul of drowning in data.
Specifically, inconsistent information spread across disconnected systems.
“The average worker spends nearly 20% of their time looking for internal information or tracking down colleagues who can help with specific tasks”.MCKINSEY
An entire day. Each and every week. Per individual. Lost.
This is solely due to an absence of information clarity and is not conducive to maximising productivity. So how do we solve this resource draining problem?
Solving Your Productivity Problems
Imagine if in place of the multiple systems you currently have, you instead had a single source of truth (SSOT).
Now before we go any further, you might be asking what on earth is a single source of truth (SSOT)?
“A single source of truth (SSOT) is the practice of aggregating data from many systems within an organisation to a single location. A SSOT allows a company’s data, for a particular purpose, to all be found via a single reference point”.MULESOFT
So not only would this approach enable you to win back a significant chunk of time, currently being lost sifting through several logins for the right information. But by having everyone consulting the same source, populated by live data, you could have peace of mind that the content is indeed accurate.
Rather than having countless versions of the same records, each with varying data, a single source of truth (SSOT) eliminates discrepancies.
According to a study conducted by KPMG and Forrester…
“Only 34% of decision-makers report that they feel confident in the accuracy of the information they use”.KPMG & FORRESTER
Whether you’re a business owner, team manager or individual contributor, the question remains the same. How can you make the best decision if you can’t trust the information you’re basing the decision on?
Why A Single Source Of Truth (SSOT)?
Over the course of the past 12 months, many businesses were forced into a sudden pivot. Plans for digital transformation were accelerated in order to become 100% remote overnight.
The only way to achieve this, for many, was to rely on technology. But with this shift, and the wealth of options on the market, there is potential for information overload as the number of systems in place creeps steadily higher and higher.
Organisations need to facilitate remote collaboration, but not at the cost of a trustworthy information stream.
If you have multiple teams collaborating on the same project and the information being used is coming from different sources, there is serious potential for errors to arise.
Misunderstandings, delays, and frustrations start to add up as you lose productivity, morale, and revenue.
The solution to your productivity problems is simple. Introduce a single source of truth (SSOT).
Eliminating Your Productivity Problems
Maximising productivity is a key lever that needs to be pulled when accelerating business growth and providing the best customer experience.
A single source of truth (SSOT) can revolutionise internal communications, drive down operational costs and increase engagement.
Technology is there to make your life easier; a lack of alignment however, can create a whole raft of issues.
By streamlining operational processes, and using one system, you can quickly and easily increase transparency and productivity alike.
Here are 5 reasons for you to introduce your own single source of truth (SSOT) in your business:
1 – Problem Solvers, Not Information Detectives
You’ve hired your employees for a reason, to solve problems and provide expertise. They are not there to dig for information that should be easily and readily available.
Giving everyone a centralised record removes hours of data searching and drives accountability for accuracy.
By providing a clearer picture, following best practice processes becomes much simpler.
2 – Clarity At Scale
Remote dealings are more familiar to us now than ever before, but as people become more mobile, the need for remote access will remain.
Instead of having to sift through internal messaging, ERP systems, email and attached documents, a single source of truth (SSOT) allows everyone to quickly access the right information and sing from the same hymn sheet no matter their location.
That equals faster, better service based on facts and data.
When you silo your information outside of a single source of truth (SSOT), you’re making blind decisions that aren’t always in your best interests.
3 – Eliminate Duplication
Nothing wastes resources like a duplication of efforts. A single source of truth (SSOT) gives your team their time back.
By having clear visibility over your projects, you can easily monitor the paper trail, identify what needs to happen next and continue where colleagues left off rather than rinse and repeat work which has already been completed.
4 – Happy Customers
Low productivity leads to delays. Given the challenges experienced by all in recent times, businesses shouldn’t rely on the patience of their clients when it comes to providing a service.
Landscapes are too competitive and a poor customer experience is often the deciding factor when it comes to choosing a supplier.
Outdated, missing, or incorrect customer information makes you appear unprofessional, especially when you’re forced to clarify directly with the client as you have two, contradicting pieces of information.
A single source of truth (SSOT) helps you make a bigger impact with relevant, accurate customer data stored in one place.
5 – One Company
You may have several teams, locations or verticals but you are one company.
Segmented and hidden information can cause a lot of frustration and miscommunication between your employees. That’s not only bad for business, but over time, this can decrease morale.
A single source of truth (SSOT) provides clarity and encourages cooperation by allowing everyone to be on the same page, working toward the same collective goal.
Intrigued to learn more? Check out our Insights Hub to keep your business at the cutting edge.
March 30th, 2021-