IF YOU lost your wallet every week, you’d probably find a better way of keeping track of it, right? Yet thousands of UK businesses are throwing money out of the window simply because they don’t manage their data properly.
Unmanaged data hits productivity, complicates regulatory compliance, increases business and legal risks and drives up the cost of doing business.
Just think about it. How much time do your employees spend searching for the right documents? Can they find the emails, stored financial reports, presentations, research documents, CAD drawings, contracts and other content they need to do their jobs? Can your team quickly connect with other team members and customers in real time to share information?
If the answer to any of those questions is no, you’re one of a growing number of businesses whose bottom line is being hit by information being too hard to find.
But thankfully there are ways you can break through the bottlenecks that hinder your employees and develop a way of managing data that empowers them instead.
One such strategy is to consolidate all your data in a single repository based on service-oriented architecture (SOA), so it is accessible to those with authority.
That sounds pretty straightforward, but it can be difficult to implement because the system must provide internal, external and platform solutions that make it possible to handle all kinds of data, to share it, and to manage various types of content throughout a life cycle – applying control and support to each phase from creation to destruction.
Difficulties in accessing data can bring an otherwise well-run business to a halt. Redundant and manual processes can slow the workings of your business, and being unable to share information or collaborate easily means staff will often duplicate effort or drop the ball altogether.
By implementing effective information management, sharing information and collaborating become routine – empowering your employees by making them more effective and productive and helping them make better decisions faster.
And the benefits don’t end there.
Good data management can lower the cost of IT in your organisation by consolidating hardware and other parts of the infrastructure, reducing the cost of integrating with other technology and cutting support and administration costs.
If you want your business to cope through the recession and beyond, can you really afford to keep throwing money away?
Mark Isley is head of sales and marketing at Aspire Technology Solutions