Companies today are collecting a profound amount of data non-stop, from an ever-increasing range of information sources, such as connected devices or the company website. This constant stream of data on customer demographics and behaviours is forever being added to.
However, intelligent companies seeking to put it to good use must first know how to properly process and control it 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% 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, 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 management solutions such as Content Services enable businesses to understand their customers and react appropriately. Harnessing the power of this data helps business leaders identify ways to streamline processes and improve efficiency throughout their organisation. 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.
In offices that are still analogue, 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, could cause serious headaches for legal departments. Just imagine, an employee retrieves a document with permission, but then for whatever reason 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 restricted. 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 or download content.
On top of this, every single view, edit 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.
The power of content management solutions goes way beyond tracking the changes made to individual documents, though. 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 in order to detect any possible inefficiency or mistake.
This holds great potential for improving the efficiency of business projects. 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; problems in the supply chain are detected and remedied faster, or even prevented altogether. With greater control, businesses can streamline future projects using data from previous ones, optimising performance by building on past experiences to pave the way for future success.
By embracing modern digital technology, businesses can identify and implement more effective ways to see what’s really going on. Greater control over access reduces risk enormously, while registers of activity help to improve transparency, allowing managers to focus their energies on more important tasks. Content management solutions also provide new ways to monitor workflows, resulting in important insights into potential inefficiencies that can then be remedied. 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 need a system to handle and use their data properly in order to get the most out of it. Every business process will involve the passing of information, but analogue workflows frequently suffer from delays and errors. Technology can provide a shortcut to efficiency without the complications and costs of other approaches.