Single Source of Truth (SSOT): A little clear from the nomenclature, is the home base to your army of software.
In today’s omnichannel world, every business has tons of data flowing from all the possible directions with each team accessing a different data set to make their decisions.
These data silos pose a challenge for businesses as such decisions are compartmentalized instead of being holistic. And SSOT solves this and more.
Now for what, why, which and how –
What is the Single Source of Truth?
SSOT is the aggregated data location or the reference point for all the data in your organization which is mutually accessible to your sales team, along with marketing and . This enables your company to solve the problem of work silos by working in unison and also save time and effort of your workforce.
You can make well-informed decisions based on the data accumulated from all these sources.
Not only this, but your sales team can also serve your customers better.
Here’s what Maypro’s Joshua Guarino, Senior Manager, Legal and Corporate Affairs Department and Salesforce Administrator, said “Our goal was to have Salesforce Professional be the single source of truth for our sales team.”
“And with data from Sage 100 being pushed over via Commercient SYNC to Salesforce on a scheduled basis, our sales team can avoid having to use multiple platforms and handle customer queries better,” Guarino added.
Why Do You Need a Single Source of Truth?
Azfan Jaffeer, Primary Consultant, elaborates on it, “Creating a central source of truth is the most important positive impact a good CRM can have on your business. Imagine how your client would feel, or what they’d think, if your sales rep contacts them to upsell new products and services, without knowing the client has multiple ongoing issues with their current services with your company. This lack of information and insight may make your team appear aloof, unaware and unprepared. Empowering your team with information is the best way you can help them succeed.”
But to say it’s crucial wouldn’t be persuasive much, so let’s understand it in detail –
Knowledge is Power
Yes, we’ve all heard that.
To let your team have access to unified information implies using the power of Business Intelligence. More the accessibility, the more the chances of them making the right decisions. Sure, there is still room for mistakes. But the extra chance is worth the shot.
Hence, the SSOT provides a “truer” look for your business by providing a single view of the whole world of data.
The CEO and top management need to know what the overall health of the company is.
But, to track the KPIs within different sources for each department is a cumbersome task, and one where you might overlook certain aspects due to the information overload.
That’s why having one Source of Truth becomes important.
You can see what John from Sales is up to, is the sales pipeline filled to the brim or how are the marketing efforts turning out to be – all from One Source.
Having a Few Licenses
Each one of us in business has a desire to reduce expenses and increase profits.
One surefire way to do this is to take away some of the heavy hitting software licenses that you have.
Instead, create a unified process and have an SSOT which can be-it-all for you.
For instance, you have an ERP (Accounting, Operations, etc.), you purchase a Salesforce (CRM) license, and connect them both using Commercient SYNC. Your sales, marketing, and customer service teams can access ERP data directly in Salesforce, making your Salesforce Org as the Single Source of Truth. No need for separate software for emailing, calendars, marketing, customer support, and more.
And a huge advantage? Instead of having your customers use an average of 976 apps and feeding data in all of these, have them use 2 to 3 software apps. Less hassle, better results.
Which Should be Your Source of Truth?
No business is the same and operates in its own light. Your workflows, processes and structuring are unique to your business.
So, it can be any software which fulfills your set of needs.
For some, it could be a Customer Relationship Management (CRM) software while it could be Accounting and Operations Enterprise Resource Planning (ERP) Software for others.
Both the systems have tons of user-friendly features.
But if you worry about all your teams having access to the Accounting ERP and want to avoid the chances of errors, it’s a good choice to pick CRM as your Single Source of Truth.
Not only that, but it would also help your teams use the full potential of the CRM.
How to Forge Your Single Source of Truth?
By now, you know to have an SSOT, all your systems will send data to this master system which will be the primary location to access the data.
To create this ideal ‘primary storage house’ in Salesforce or any other CRM or your Accounting ERP, you need integration software. Choose an integration company like the Commercient SYNC, which joins all your systems working in silos…together and is the leader in data integration.
Free Consultation: Is Your Business SSOT-Ready?
We’re excited to offer our readers a free, no-obligation SSOT readiness consultation. Our team of experts will delve into your specific organizational needs and assess your current data management framework. This service isn’t just about selling a solution; it’s about understanding where your business stands and what steps are necessary to achieve a unified data ecosystem.
Interested? Reach out to us, and let’s together make informed data-driven decision-making a reality for your business.
Additional FAQ’s we thought you might have:
How does SSOT handle data security concerns?
SSOT systems step up your security game, bringing in tough measures like top-notch encryption and access controls. So, not only is your data all in one place, it’s locked down tight. Plus, with everything centralized, staying on the right side of data protection laws becomes a whole lot simpler.
What if my organization uses legacy systems?
Old-school systems? No problem! Today’s SSOT solutions play nice with legacy systems, thanks to smart tech like middleware and APIs. Just make sure your provider is someone like Commercient SYNC who is in on the project from the start. We’ll spot any compatibility snags early on and can conjure up every solution.
How long does it take to implement an SSOT?
Well, it’s not a one-size-fits-all answer. Think about your company size, how much data you’ve got, and how complex your current systems are. For some, it’s a sprint of just a few months, while others are in for a bit of a marathon. Just remember, the prep stage is key—don’t rush it. Getting your data and team ready will make the whole process smoother.