Everything we learned last week at info360 told us that streamlining your workflow is the key to productivity and innovation. Thanks to a report by AIIM and Open Text, a white paper supports what every vendor and speaker at info360 said.
Improving the Enterprise's Workflow
The report, Capitalizing on Content: A Compelling ROI for Change, shows that better strategies around the management of information and content can help companies operate more profitably and capitalize on the positive benefits from knowledge sharing, collaboration and business process improvement. The results from a survey of 450 responses from individual members of the AIIM community indicate that the state of the enterprise is in dire need of workflow solutions. Consider the following:
- The average worker spends around 37 minutes, or 8% of the working day, filing and maintaining existing information, or searching for new information.
- Over a third of organizations have no way of finding out who was responsible if sensitive data was “leaked” to a competitor or to the press by a trusted employee.
- Only a quarter of respondents could readily point to a specific employee based on activity logs. For 60% of the largest organizations, the potential impact of such a leak would be high, and for 13% it would be “disastrous."
- 57% of organizations are spending 10% or less of next year’s IT budget for infrastructure projects and enterprise applications on content management projects.
Getting to the Bottom of Content Chaos
Last week we talked about Content Chaos and how advanced workflow solutions could alleviate it by streamlining the way content and document is organized and managed. According to the report, content chaos doesn't just suddenly appear. It is the result of years of companies ignoring or refusing to implement solutions, alongside a corporate culture that doesn't promote sharing. Respondents identified three primary areas that they consider to be the “biggest long-term dangers of continued content chaos for your organization”:
- Organizational knowledge is not leveraged to maximum competitive effect
- Storage media and IT infrastructures are swamped with uncontrolled content
- Innovation is stifled by poor collaboration and restricted knowledge-sharing
What makes this report so enlightening is that they purposely surveyed professionals within the AIIM community. They thought that they would find a higher adoption rate of DM and ECM systems than in the wider business community, yet they found that, while around a third have some form of integrated content management beyond just documents, 24% of the largest organizations still don't have management system for electronic documents and other content.
The ROI of ECM Implementation
Based on the experiences of users and potential users of ECM systems, the authors compared estimated benefits from potential users and the experiences of those who have systems in place across a number of possible applications of ECM. The report found that each one has shown an average improvement in performance of between 18% and 33%. Even the much less tangible benefits from business social media and Enterprise 2.0 produce an average improvement assessment of 18%.
The bottom line: you can’t afford to ignore enterprise content management. The more you do, the more you risk losing your time, money and productivity.