These days the most successful companies are open-minded and promote a culture of information sharing, which means encouraging their employees to make their knowledge available to others within the company and, selectively, to partners. It’s the essential approach for the survival of enterprises to collaborate. However, not every company is able to achieve this goal in a secure way today. There is often a lack of information sharing within companies, a tendency toward tribal and specialist knowledge, which results in inefficiency or errors. This often stems from the fact that many companies don’t have the right software to share the information in an efficient way or the software is not working consistently along the value chain.

You are still wondering about the benefits of Information Sharing?

One “truth” for better decisions

You might encounter this term a lot from CIDEON and SAP: single version of the truth or SVOT. It’s a principle that encourages the use of a centralized and synchronized database to house all relevant data in a standard format. This seeks to ensure the integrity of the data being used at any given point. This practice furthers the notion of both data quality and data governance.

Transparency promotes Trust

The problem with word-of-mouth and qualitative information is that it can be influenced by bias and “telephone” syndrome – one person shares with another, that person remembers a portion adds their concepts, and passes the new information on. By making the information visible for everyone you make sure that everyone is on the same level from the transparent source of truth.

Integrated workflows to easily build Value

Integrated workflows and free flow of information gives everyone a better appreciation of how other teams and departments are affected by their actions and promote balanced decisions and further information sharing.

These are just a few benefits showing how important information sharing is, but how exactly does CIDEON contribute in this?

Watch the video to hear CIDEON CEO Maximilian Brandl talk about our role in 2 minutes.

Advertisements