What is a Single Source of Truth?
Single Source of Truth refers to the practice of structuring information models and data architecture so that every data element is stored in exactly one place, providing one authoritative, reliable reference.
SSOT eliminates data duplication, inconsistencies, and conflicts arising from multiple versions of the same information. This principle ensures all users and systems reference identical data, improving accuracy, simplifying maintenance, and supporting better decision-making.
In accounting and HR contexts, SSOT might mean one employee database, one customer master file, or one chart of accounts across all systems. Achieving SSOT requires data governance, integration between systems, and master data management. Organizations pursuing SSOT gain data integrity, operational efficiency, and trustworthy analytics.
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