Companies today are collecting a profound amount of data non-stop, from an ever-increasing range of information sources, such as mobile devices or the company website. With a constant stream of information on customer demographics and behaviours, many businesses are stuck wondering how to use this data to improve operational efficiency, especially with the rapid evolution of the workplace and the rise of hybrid workforces in recent years.
Intelligent companies seeking to put it to good use must first know how to properly process and control their data using the right technology. What defines these enormous data sets, known as Big Data, is that they can be analysed to reveal patterns, trends or inconsistencies, both inside and outside of the office.
The impact this has had on modern business is significant. In McKinsey’s ‘Analytics comes of age’ study, 70 percent of executives stated that data and analytics have caused at least moderate changes in their industries’ competitive landscapes in recent years. This goes to show how companies are discovering the hidden value of the data they collect and turning it into Business Intelligence (BI). While technology is the source of more data, it is also key to controlling and using it more intelligently.
Content Services solutions such as Enterprise Content Management (ECM) enable businesses to understand their customers and react appropriately. Harnessing the power of this data helps business leaders to identify how to improve operational efficiency and streamline processes. This is what gives them the edge over competitors that are slower to go digital. Technology is key to squeezing all the potential out of business data, as it allows you to control it for more effective use, whether it be access control, monitoring capabilities or analysis.
Keep everybody on the same page
In offices that are still analogue, file storage is a significant challenge as it’s virtually impossible to keep track of what’s happening with stored information. Paper documents represent a real risk that is often overlooked, as unauthorised individuals can easily steal or copy precious data if the only obstacle is opening a filing cabinet. Even authorised employees, with no malicious intent whatsoever, can cause serious headaches for legal departments. For example, if an employee retrieves a document with permission, but then forgets to refile it into the system, that information is now lost. And if this loss is discovered during an audit, your business could face serious fines for non-compliance with data protection laws.
Content management solutions are designed from the ground up to mitigate this unnecessary risk. If data is stored digitally, access can be controlled and restricted accordingly. Only users that have been specifically authorised to view documents can do so, and a further layer of security is added by limiting who has the right to edit, print or download content.
On top of this, every single view, edit, print and download is recorded. In other words, each action becomes traceable once your data is transferred to the digital space, ensuring its protection against intentional and unintentional sabotage.
Streamline to succeed
The power of content management solutions goes way beyond tracking the changes made to individual documents. One big advantage is the ability it gives supervisors to monitor entire workflows from start to finish. With a bird’s eye view encompassing every single process, it’s easier for businesses to assess how they can improve operational efficiency.
By implementing Content Services, both employers and employees can check in on projects with just a few clicks from any connected device and instantly see who has been working on what and when. It’s also an effective way to ensure that every member of the project team is always using the latest version of each document, saving time and driving the project forwards. Overall, the business gains a much more holistic oversight of workflows as well as the information and individuals involved.
Manufacturing and production departments stand to gain the most from this technology, enjoying improved control with the capacity to bring about noticeable benefits quickly, such as rapid detection or even prevention of supply chain problems. With greater control, businesses can streamline future projects using data from previous ones, optimising performance and improving productivity by building on past experiences to pave the way for future success.
Importance of taking control
By embracing modern digital technology, businesses have greater visibility and control of their operations. Greater control over access reduces risk enormously, while activity registers improve transparency, allowing managers to focus on more important tasks. Content management solutions also provide new ways to monitor workflows, resulting in important insights into how to improve efficiency in the business. In a nutshell, it’s essential that businesses take control of their data in order to harness its full potential and optimise working routines in the future.
Businesses are handling more documents and data than ever before, and many are struggling to keep up. The answer to this challenge lies in using modern technologies such as Content Services to drive business efficiency and growth. Download the ebook today to learn more.