They discuss how legacy systems, manual entry, and data silos can really hold businesses back because human error and out-of-date information make it impossible to make well-informed business decisions.
Conor talks about how every organization should be working from one set of data that is accurate and real-time, from one central location—this is known as “one source of truth”. When everybody has the same data, they can collaborate, see trends, and understand the real information. Without one source of truth, companies measure data that’s not accurate and make poorly informed decisions.
Conor discusses how management systems need to give proper oversight so that decisions can be made based on accurate, real-time information. A good management system ensures instant access to accurate, up-to-date KPIs, so that decisions can be made based on accurate information. This can revolutionize, for example, credit control, where outstanding invoices can be instantly identified and collection actions are recorded.
Joe and Conor also chat about how mobile technology is also an integral part of management systems, particularly in the following areas: