Every organization today is facing the challenge to manage their information effectively and how they can use these information to improve daily operations and increase productivity. This is expected to become more complex as the volume of information in an organization is going to grow rapidly in the coming few years (almost 4X) and most of them will be unstructured.
58% of organizations realize they need to move up the information management value chain from simply mitigating risk and cost to creating value.AIIM
More data generated means it will become more challenging to manage the information and without the right plan, strategy and tools, organizations won’t be able to get insights, achieve better business decisions , and the most valuable asset (data) will be totally wasted.
What are the three biggest information management challenges?
- Digitizing, automating, and integrating processes
Digital transformation is a must for any organization as it has become essential to integrate digital technologies across all departments in order to dramatically change how they do business even though in a recent study by AIIM only 24% rate their digital transformation effectiveness to be greater than 75 on a 100 point scale. Apart from the right strategy, organization wide plan, and change management vision, the most important factor for the success of transforming to digital is to have the right tool (solution) that can help organization digitize their information and achieve high level of ROI. If an organization invests in the proper ECM solution that allows for easy and faster data capture with batch handling, fast document retrieval, and powerful security model that will open a new horizon to make use of these information for better decision making. But that is only one side of the story and its first step, the second step after organizations start to digitize their content is to improve how their employees work by re engineering and visiting every process and try to automate it. Improving and automating a process can be complex sometimes as we often need to find bottlenecks and question all steps but the result is surely worth it. Look for ECM solutions that have a powerful BPM module (no code-lowcode) that will allow your business experts to model their workflows and automate data capture (HTML Forms).
- Managing information throughout its life cycle
As described earlier, managing information nowadays has become complex specially with the rise of generated information volume. Organizations need to set best practices to drive the information smoothly throughout their lifecycle and choose the proper tool available in the market to make sure every step is done in the most effective way. Below are the basic steps every document will pass through
The starting point would be to capture or create the document to be available for collaboration, document versioning, setting security and so forth. When capturing and importing the document into the system, it is important to classify it (based on document templates) and provide meaningful metadata.
After the document is available, it is very important to have the ability to automatically OCR the attachment for easy retrieval in addition to easily share and collaborate on the document between concerned parties and securing it to make sure only people with the right access can access the document.
- Securing Information
With the latest introduction of the GDPR regulations, most organizations don’t have any choice except to comply with them. Organizations must have a well defined process to manage these information and know exactly what to keep and for how long in addition to make sure they are accessible only to the authorized personnel.
Most ECM solution providers have a powerful and flexible security model to make sure your organization comply to the regulations.
N.B: This article was inspired from this AIIM infographic