Managing data and information is less of a choice than a requirement. Even useful information doesn't become relevant until it's transformed into knowledge, and data isn't positively relevant unless it enables a process to proceed.
Documents organize information into knowledge enabling, and task completing, structures. Content Management Systems (CMS) ensure that only useful and relevant information is used to complete a task or dynamically create a document. Document Management Systems (DMS) manage and transport documents, protect and grow corporate knowledge, and control costs.
Moving content and documents between the physical and digital worlds is a daily reality in businesses everywhere. This is true because paper is usually still the lowest common denominator, particularly between disparate organizations or industries.
Gartner reports that document output costs alone are equal to 1-3% of a corporation's revenue, or 12-38% of corporate profits, based on the nationwide average of corporate profit margins at 8% in Q1 of 2010. Managing document input can be even more expensive because more people and technology are required.
Yet, many businesses do not have a strategic plan to manage the portal between these worlds. This inevitably leads to the default process of IT specifying based on bits and bytes. IT then hands over to procurement to manage purchasing in a fashion similar to any other commodity based strategic sourcing initiative.
Most companies that attempt a strategic approach end up succumbing to vendor controlled processes. The measurement and recommendations under this scenario are always to the supplier's agenda.
Strategic Plan Recommendations
? Technology should be adapted to fit to your business, not the other way around.
? Don't hire the wolf to guard the hen house!
? Have an independent consultant assess and diagnose your technology contracts.
Ensure that your consultant's only agenda is your business, with true independence from both manufacturer and dealer influence. Your consultant should flag and work to eradicate all traces of the following from your contracts.
o Can't cancel without cause for all non-capital contract components.
o Bundled or ambiguous pricing.
o Volume based pricing (minimum usage obligations).
Following these principles will not only impact your costs, but also affect your organization's regulatory compliance, efficiencies, client satisfaction, and overall competitiveness.
Documents organize information into knowledge enabling, and task completing, structures. Content Management Systems (CMS) ensure that only useful and relevant information is used to complete a task or dynamically create a document. Document Management Systems (DMS) manage and transport documents, protect and grow corporate knowledge, and control costs.
Moving content and documents between the physical and digital worlds is a daily reality in businesses everywhere. This is true because paper is usually still the lowest common denominator, particularly between disparate organizations or industries.
Gartner reports that document output costs alone are equal to 1-3% of a corporation's revenue, or 12-38% of corporate profits, based on the nationwide average of corporate profit margins at 8% in Q1 of 2010. Managing document input can be even more expensive because more people and technology are required.
Yet, many businesses do not have a strategic plan to manage the portal between these worlds. This inevitably leads to the default process of IT specifying based on bits and bytes. IT then hands over to procurement to manage purchasing in a fashion similar to any other commodity based strategic sourcing initiative.
Most companies that attempt a strategic approach end up succumbing to vendor controlled processes. The measurement and recommendations under this scenario are always to the supplier's agenda.
Strategic Plan Recommendations
? Technology should be adapted to fit to your business, not the other way around.
? Don't hire the wolf to guard the hen house!
? Have an independent consultant assess and diagnose your technology contracts.
Ensure that your consultant's only agenda is your business, with true independence from both manufacturer and dealer influence. Your consultant should flag and work to eradicate all traces of the following from your contracts.
o Can't cancel without cause for all non-capital contract components.
o Bundled or ambiguous pricing.
o Volume based pricing (minimum usage obligations).
Following these principles will not only impact your costs, but also affect your organization's regulatory compliance, efficiencies, client satisfaction, and overall competitiveness.