What is “A Single Source of Truth” in Data Management?
A single source of truth (often abbreviated SSOT) means that your company’s data is stored in one secure, primary location that is constantly updated with the latest information. The result is that everyone in the organization will be using the same data when making business decisions.
Here’s an example of how a single source of truth could hurt or help you: Let’s say that a nationwide food distributor does not have a unified data source, and due to an oversight, some of their data is set to UTC, and some is set to PST. The problem is, there’s a several-hour difference between universal time and Pacific time, which quickly spells disaster for this distributor. All because the company’s employees had no idea that they were scheduling deliveries and pickups in two different time zones that were utterly unsynchronized.
On the other hand, if this company’s ERP system had a single source of truth with everything in UTC and the ability for each user interface to translate to local time, each stakeholder could be on the same page, using identical data to make business decisions both large and small. Their systems would never be out of sync. Dates and times would remain accurate regardless of where each user is located.
How Poor Data Management Harms Your Business
If you don’t have a current, single source of truth data management system, problems could ensue. Here are some of the ways that a lack of data integrity could negatively impact your business no matter where you are in the food supply chain.
It can double the labor and increase costs
Poor-quality data and erroneous decisions will undoubtedly cost your business. If different employees are using two different data sets to make a related decision, you’ll have a lack of continuity that could lead to doubling up on labor and the associated costs of carrying out each task.
Deadlines will be impacted
Poor data quality also slows down your employees, which can hurt critical deadlines. If your employees are constantly checking, vetting, and validating data before they can use it to make strategic decisions, then they’re wasting a lot of time that could be used on other tasks. You should have a data management system in place to ensure accurate data in the first place.
It adds stress to internal stakeholders
When you aren’t secure in the knowledge that your data is accurate, you’ll be stressed knowing that you’re missing opportunities, negatively impacting your business’s reputation, missing deadlines, and more.
You may be left guessing where it all went wrong
Sometimes, disaster strikes. And, the best way to ensure the same thing doesn’t happen again? Finding the root of the problem and preventing it. However, if you don’t have the necessary data, this may be impossible. You will have to guess at what happened, and this doesn’t necessarily help you prevent problems in the future.
Reducing Errors by Having a Single Source of Truth Data Management
bcFood provides solutions that help you increase your data integrity, eliminate errors, and manage your business better. We work mainly with mid-sized businesses in the food manufacturing, distribution, and processing industry. With over 30 years of experience building ERP solutions for the food industry, we have the skills and experience you need.
Our solutions are built on top of the Microsoft Dynamics 365 Business Central (previously known as Dynamics NAV); which is the most widely-used and successful ERP solution in existence. At Beck Consulting, we further enhance Microsoft’s new and improved ERP software and optimize it for the food industry. You’ll gain food-centric functionality, accuracy, and automation. And, we work with the world’s best Microsoft Dynamics developers to keep our enhancements cutting-edge.
Here’s how our integrated, enhanced Microsoft Dynamics 365 Business Central ERP solutions help our clients in the food industry:
User-Friendliness and Accessibility—Easily access everything you need to know. Crucial information is presented front and center, saving you (and the rest of your company) time and energy every time you open the ERP system.
Flexibility, Scalability, and Future-Proofing—Businesses are ever-changing, so your most crucial software systems need to reflect that. As your company grows, bcFood can adapt by developing new functions that meet your changing needs.
Reliability and Accuracy—Get data in real time, and never make assumptions again. All transactions are recorded instantly, so you’ll have constant access to accurate information about your business. Millions of people daily depend on the robust and reliable Microsoft Dynamics 365 software, which is what bcFood is built upon.
Improved Collaboration—Whenever any user enters information into bcFood’s database, all stakeholders can view this information, allowing them to perform tasks and make decisions from the data with ease.
Industry-Specific Features and Enhancements—We’ve worked hard to build all the food-specific features you need, meeting industry requirements for processing, manufacturing, and distributing. These features are focused on safety, efficiency, and data integrity for food companies.
Great Training and Support—As part of our implementation process, we dedicate extra time to showing users how to get the most out of their new software solution. Your employees will be empowered and confident, able to help your business succeed with the help of Beck Consulting’s ERP software.