Have you ever taken stock of all the systems your company uses on a daily basis? According to a new report by AIIM, nationwide, the average number of content management, document management, and record management systems has grown to 4.95 per organization this year. In fact, the share of companies using 7-10 systems has approximately doubled every five years over the last decade.
When you need information, are you unsure of exactly where to find it? Have you ever run into difficulties making your systems talk to each other? Do you find yourself wondering who approved the budget for all these systems? If the answer to any of those questions is “yes!”, we’re here to help.
What is Information Chaos?
Why is the growing number of information systems a problem, and how can you address this problem? To win the war against information chaos, we must first understand what’s at stake: profits, inefficiency, and customer dissatisfaction.
The more systems your company uses, the more you’re at risk of information chaos. Information chaos means that your employees cannot easily find the data, forms, documents, etc. they need to do their jobs. And what’s more—they don’t even know where to start looking.
The most obvious consequences of information chaos include high costs, inefficiency, and duplicate work or data. However, there’s more: the hidden consequences of information chaos are extensive, from employee turnover to lost sales to failing audits. Businesses lose 20 to 30% of revenue each year due to inefficient workflows. Information chaos is a big reason behind inefficiencies.
What Can I Do About It?
Fortunately, all is not lost! Savvy businesses can function efficiently, even with multiple information management systems. In the first place, of course, the best way to combat information chaos is to use fewer systems. However, this is only a good choice if the few systems you have are capable of extensive, powerful, modern information management. If the one or two systems you use aren’t powerful enough to support your business, you’ll spend more time on manual data entry and still have to deal with disorganized, chaotic data.
Perhaps the most important weapon in your war against information chaos is integration. AIIM has found that when you introduce a new information management system into your business, it is essential to ensure that it integrates with both your other information management system(s) and your other business systems like your CRM, ERP, and financial management software. This way, you’ll add functionality without having to manually transfer data or maintain separate repositories of information. If you do spend the time and effort to integrate your systems, you’ll see your profitability and efficiency grow—and you’ll be ahead of the competition! AIIM reports that only a quarter of organizations have defined connections between their information management system(s) and other business systems.
M-Files: An Integrated Solution
M-Files is an AI-powered document management system that connects your data and documents across all your platforms and repositories. M-Files organizes information based on what it is, not where it is technically located. By functioning in this way, M-Files tames information chaos into order, leaving you and your employees with easy access to crucial data while maintaining full compliance and control. You can even automate important workflows to increase your company’s efficiency and cut down on manual processes.
Ready to fight against information chaos in your business? Contact Laminin today, and we will work with you to improve the productivity, organization, and customer satisfaction of your business.
