What is the primary purpose of having centralized master data in the GFEBS system?

The primary purpose of having centralized master data in the GFEBS system is to minimize data redundancy. Centralized master data allows organizations to maintain a single, accurate source of information that can be accessed by different departments and functions within the system. This reduces the likelihood of duplicating data entries, which can lead to inconsistencies and errors. By consolidating data in one location, organizations can streamline data management processes, improve data integrity, and ensure that all users are working with the same, up-to-date information.

Having a centralized approach also facilitates easier updates and maintenance of data, as changes made to the master data are automatically reflected across all relevant areas of the system. This enhances overall efficiency and leads to more reliable reporting and decision-making based on accurate data.