Recently I was talking to a prospective customer who shared some challenges they faced recently– they had asked five people for a report and had gotten five different answers. Unfortunately, this is not an uncommon situation. In fact, at times it seems as though making business decisions and managing business processes is a bit like using an “origami fortune teller” — you hope you get the right answer, but you’re really leaving your fate to chance.
However, business outcomes cannot be left to chance, but rather they need to be based on confidence. At the heart of being confident is the notion of trust. Specifically, the question that must be answered is: Do YOU trust your data? Why is trusted data so important? The answer lies with global business processes.
Corporate executives are pressured to grow revenue, increase customer loyalty, expand their product portfolio, reduce time to market, optimize procurement, as well as comply with government regulations. As a result, corporate executives are implementing new business strategies aimed at becoming more customer-centric, improving operational performance, and complying with regulations. The success of these strategies relies on having effective and efficient cross line-of-business processes. However, organizations are finding that such business processes are complex to implement because the data they need comes from independent silos that grew over time, where data is inconsistent, incomplete and incorrect between systems and lines of business. As a result, global business processes don’t have trusted data that deliver predictable results, that is valuable to the business needs and that is available when the business needs it. When companies don’t have trusted data, they face significant barriers to realize their key business strategies.
So how do you stop leaving business outcomes to chance with the data equivalent of an “origami fortune teller?” I discussed this in a recent Webinar on how to achieve better business outcomes with trusted data, focusing on proven strategies to improve revenue growth, operational performance, and regulatory compliance, by optimizing your key business processes with data you can trust.
In closing, one way to think about having trusted data is like having the “origami fortune teller” undone into a flat sheet of paper so you can be confident again.