When considering a company’s assets, most people are likely to think about physical assets; buildings, office equipment, cars, subsidiaries etc, Others may also think about virtual assets such as a company’s brand or its reputation. Then there are electronic assets: the corporate videos, product photographs, financial documents. Like the physical and virtual assets, electronic assets are all equally important to a business and in which companies invest much money and time. But what about other electronic documents and information? Information that helps build a picture of the company’s market, information about customers, customer service information and other knowledge based assets.
We work in an economy that is increasingly more dependent on knowledge based information. How companies manage this information, how it can be found and researched can contribute to an organisation’s overall success. Many businesses do not manage their electronic documents or knowledge based information and thereby are unable to take advantage of this important company asset.
So why is information and document management important? A simple example highlights the benefits. A customer calls to log a technical problem. The technology company logs all customer support calls and the corresponding replies from the technical department. The technician handling the call knows the problem has arisen before and the same issue has been resolved by a colleague. A quick search of the support logs results in an answer and the customer’s problem is solved speedily! One very happy customer, all thanks to electronic documents and information that is managed effectively! This simple example highlights why information and document management is important and how it can benefit users. Organisations that do not have proper systems to manage and make this knowledge based information accessible may be missing out!
Here are some reasons why managing electronic information and electronic is important.
- Better Informed for Faster Decisions
Information made available in a CRM to all employees means they are be better informed. Armed with this information, employees are able to effectively and quickly make educated decisions. In a system where employees have access to all customer projects and tasks, every document, email and accounting information, employees are provided with the information they need to respond quickly to nearly any customer request.
- Managing Compliance
Most information and Document Management Solutions will offer a level of transparency in that activity in the system will be tracked and logged. Anyone can check the status and history of a project, a document or a task. Having the ability to check the amount of time spent on tasks, to track what happens, who accessed, viewed or made changes to electronic documents and information offer a great insight about business efficiency. They also provide many businesses the proof they need to show they are complying with regulations and can also help ease the burdens of official audits.
- Increase Productivity
The management of electronic information can help increase productivity. For example, a document management system or DMS can help increase workload capacity. Automating the movement of documents, facilitating and controlling collaboration, tracking documents and their associated information, employees can reduce the amount of time they waste searching for information, tracking document deadlines and managing projects manually.