The torrid pace of Digital Transformation is stretching Enterprise Resource Planning (ERP) financial systems in uncharted directions. Business opportunities to address modern customer requirements also carry new Security, Governance and Compliance risks. The distribution of operational data across many SaaS, PaaS & IaaS Clouds, recently merged/acquired companies, suppliers, distributors, channel partners and end customer Systems of Record, is a new existential threat. Finance teams and other business leaders running their departments with this fragmented operational data, have realized the Single Source of Truth concept born in the Client/Server era is now breaking at the seams.
Data Integrity has been a business challenge from the earliest days of general ledgers. The struggle to maintain data accuracy, consistency and normalization is compounded by new global privacy and regulatory compliance requirements around custodianship and transparency. Finally the millions of cybersecurity attack probes each Global 2000 organization faces daily, requires a fundamentally new level of Data Integrity urgency and focus.
Traditional reconciliation of financial records, manufacturing inventory & supplier component status, asset utilization and related operational systems, can no longer afford to be a manual retroactive process performed over an elongated cadence. Strong, real-time assertion of data integrity at the transactional level, coupled with strong real-time verification of data integrity at the reporting level, is the new reality of business.
Verified Shared State
Organizational structure and budgeting standards mean data silos are here to stay. Master Data Management and Data Federation are best-practices for leveraging the strategic advantage of valuable business data spread across many teams. Verified Shared State is the technical prerequisite in support of this business goal. Chains of custody between all data sources and data sinks in an organization are the mechanisms to deliver these requirements and return mathematically verifiable trust and integrity back to a modern relevant Single Source of Truth.
PencilDATA’s Chainkit ‘Chain of Custody as a Service’ is the Enterprise-ready and Developer-friendly global service platform to enhance existing best-of-breed IT infrastructure and App/Data stacks. With Chainkit, new Digital Transformation projects don’t have to sacrifice Security, Risk and Governance requirements to meet ambitious business goals. Chainkit puts the trust back in your new Single Source of Truth.