In a system with multiple masters, each master sends a request to the bus matrix to access shared resources. The bus matrix acts like a traffic controller, deciding which master gets to use the bus at any moment. Only one master can access the bus at a time to avoid conflicts. When a master is granted access, it communicates with the slave devices. Other masters must wait until the bus is free. This process repeats as masters request access. When no masters request the bus, the bus matrix remains idle. This ensures smooth and fair communication between multiple masters and slaves.