Masterclass: Single Source, ONE Truth – Have Real Time Info Anytime!
Meet the Experts
⇨ Why Single Source of truth is important?
⇨ What’s it all about?
⇨ How do we get there?
A single source of truth means having a definitive collection of the information employees need to do their jobs effectively and efficiently. While everyone’s business transformation project is different, a single source of truth can lay a strong foundation for success by enabling a process-based approach, establishing a culture of transparency, and providing an opportunity for analysis and retrospection. Each of these benefits can go a long way in helping ensure your business transformation project not only succeeds but also is sustainable and more widely accepted.
The Universal Journal is developed to combine into one source of data. This single source of truth collects all accounting-relevant transactions into one table and makes them available to all relevant application components in ERP. Wow! That’s a great deal of simplification! The reports in all components use data from the same journal, known as Universal Journal.
This single source of truth is always reconciled by design and which you can enable business used to slice & dice data as per YOUR reporting requirements. At the end of the day, reporting is what matters for an Accountant!
Read the presentation here.