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Single Source of Truth (SSOT)

Single Source of Truth (SSOT) refers to the practice of centralizing critical information in one authoritative location - so everyone accesses the same, verified version of a document, policy, or dataset.

In banks and credit unions, this matters for compliance, consistency, and operational clarity. Whether it's a policy update, a procedure change, or a new HR form - an intranet that enforces SSOT helps eliminate conflicting versions and outdated files.

Why It Matters

Without a single source of truth, staff may rely on old email attachments, shared drives, or printed documents that are no longer accurate. This creates compliance risks, miscommunication, and confusion during audits.

SSOT in Practice

A modern intranet ensures that only the most recent, approved version of each file or policy is visible. Permissions, version control, and automatic expiration rules help maintain that integrity.

How SimplifyIT Helps

Our platform is built around the SSOT principle. From policy lifecycle controls to real-time versioning and expiration, everything is designed to ensure your team always accesses the correct version - no matter where they are.

Common Questions

How does SimplifyIT ensure there's only one source of truth?
Our document management tools use strict version control, expiration warnings, and audience-based targeting to make sure only the latest content is available - and clearly marked as official.
Can employees still search older versions if needed?
Yes. Authorized users can access prior versions for reference, but the current version is always front-and-center with visual indicators.
What happens if two teams try to upload the same type of policy?
SimplifyIT supports content approval flows and role-based controls, so duplicate documents are flagged, reviewed, and resolved before they reach staff.
Is a single source of truth required by compliance standards?
While not always named directly, the principle is embedded in guidance from FFIEC, NCUA, and FDIC - especially around version tracking and staff acknowledgment.

Related Links

Want a deeper dive? Read our blog post on real-world SSOT challenges or explore the full resource page for banks and credit unions.

See how document management supports a single source of truth

 
 
 

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