Some companies don't think they need any type of integrated system in place. That decision can lead to many problems down the line. One of the biggest issues they face is siloed data. Siloed business models force companies to constantly draw off information from different sources and departments to derive true value. This can cause some major performance issues for the company as a whole and how it delivers its services or goods to their customers.
Traditional software packages function in siloes. That means business applications store their information in separate databases that require their own toolsets and interfaces to capture, store and interpret information.
As a result, data repositories often store duplicate, redundant information. There is an overall lack of data convergence that gives organizations an accurate view of business operations. When companies don't have the accurate and up-to-date data and tools they need to run their company, it can slow down key decision-making processes. Management is struggling to find the correct data. No one knows what data is correct, what's duplicated, and what's outdated. Not the way to run a company efficiently when results are expected.
There are numerous advantages to using integrated business software applications like