Why A Single Source Of Truth Will Solve Your Productivity Problems
in Insights - Last updated June 28th, 2022
The vast majority of businesses will, at some point, suffer from productivity problems.
Causes can, and will, vary from company to company. However, most fall foul of drowning in data.
Specifically, inconsistent information spread across disconnected systems.
An in depth report into productivity from consulting firm McKinsey found that…
“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.
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?
So how do we solve this resource draining problem?
Solving Your Productivity Problems
Imagine if in place of the multiple systems currently in use, you had a single source of truth (SSOT).
Now before we go any further, you might be asking what 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.
It allows a company’s data, for a particular purpose, to all be found via a single reference point”.
MULESOFT
So not only can you to win back a significant chunk of time, having everyone consulting the same source, populated by live data, provides 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 Do You Need A Single Source Of Truth (SSOT)?
The pandemic rewrote the rulebook. With many businesses forced into a sudden pivot.
Plans for digital transformation were accelerated to become 100% remote overnight.
The way to achieve this was to rely on technology. But with this shift, and the wealth of options on the market, there is potential for information overload.
Organisations need to facilitate ongoing remote collaboration, but not at the cost of a trustworthy information stream.
If multiple teams collaborating on the same project are gathering information 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. A single source of truth (SSOT).
Eliminating Your Productivity Problems
Maximising productivity is a key lever 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. However a lack of alignment 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.
hey 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 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 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 ferocity of customer competition, businesses shouldn’t rely on their patience when it comes to providing a service.
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 the right lasting impression with relevant, accurate customer data.
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.
Updated 28/6/2022
Ready to explore how Anthill can solve your productivity problems? Schedule a demo today.
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- June 28th, 2022