Businesses that are embracing the digital age are showing higher revenue streams and more profit overall, according to a recent study by the Massachusetts Institute of Technology (MIT). The study, commissioned by Capgemini, examined businesses that have been adopting the latest technologies, from social media to document management. This focus on digitizing business and migrating from the paper world to the electronic one has given many companies, such as Burberry and L'Oreal, a 26 percent increase in profits, and a 12 percent increase in the overall value of the business.
"The 'digirati' significantly invest in the 'how' of digital transformation," states the study. "They build and share a digital vision, engage the workforce at scale in understanding the vision, implement proper digital governance structures to ensure ownership and accountability of the transformation, invest in a competence upgrade and build strong relationships between the business and IT/technology functions."
One of the most important technologies that a business can invest in to achieve these lofty goals and improve operations and value is information management. With the digitization of records and improved organization of company data, a business can enhance workflow, reduce operational costs and improve products and services beyond previous expectations.
Document management allows a business to own its data, not be controlled by it. This provides a company with the means to better execute plans and strategies, improve production and communications, provide stronger customer service and much more. Without information management solutions, business may struggle to share documents between offices or collaborate on major projects. But with it, new opportunities open up that can change the way companies do business today.
Brought to you by Image One Corporation, providing complete information governance since 1994.