Effective business collaboration and innovation depends on knowledge workers having the right information, in the right format, at the right time. But that’s not how business leaders and employees across Europe characterised their document and information processes in a recent independent research study1
- Only around one third think they have overcome the problem of ‘information sharing’
- One fifth acknowledge they are struggling to share information effectively, either within their organisation or outside the firewall
- For almost a quarter, this is an issue that has gotten worse in the last three years
These kinds of barriers to collaboration are not limited to European businesses. In a global study2 we sponsored this year as part of our Process Imperative, respondents estimated that 40% of all business activities rely on the information (often unstructured) that is captured in documents — and process owners surveyed reported over one-third of these document-driven business processes are defective.
Successful transformations of processes are not easy — but they are possible with careful planning. An article in the McKinsey Quarterly3 provides a good example: a global enterprise re-engineered the way its knowledge workers collaborate worldwide in managing their investment portfolio. By implementing workflow — and document-management technologies, they were able replace numerous spreadsheets and emails with a common global system that synchronised communications and transactions among several different groups across several countries.
Removing barriers to collaboration and innovation can bring significant benefits: participants in the global study we sponsored estimated that optimsing customer-facing document-driven business processes would increase revenue — on average by 10.1%4.
That’s the kind of improvement any executive management team would like to see — and which they can help their organisations achieve, through sponsorship and governance. Learn more about the role of the C-Suite and Line of Business Leadership in Transforming Business Critical Document Processes available for download in our Knowledge Center.
1 “A New Perspective: Ricoh Document Governance Index 2012, Part 4: Solving the document process priority puzzle”, November 2012.
2 “It’s Worse than You Think: Poor Document Processes Lead to Significant Business Risk,” IDC, June 2012.
3 Davenport, Thomas H., “Rethinking knowledge work: A strategic approach,” McKinsey Quarterly, February 2011.
4 “Organisational Blind Spot: The Role of Document-Driven Processes in Driving Top-Line Growth,” IDC. September 2012.