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  IM@T Online July 2005
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The challenge of capturing data in a modern worldThe case for electronic document management for those new to EDM or not yet convinced!
The modern world has thrown up a raft of legal issues connected with data capture. These centre around data and access issues associated with increasing legal and regulatory compliance requirements, from the Freedom of Information Act for the UK public sector, to the Basel II accord for the financial services sector. Many companies do not yet appreciate the role of capturing and managing data but this will become more important because of the growing need for statutory and regulatory compliance. Associated with an increasingly regulated environment is the rising cost of storage as businesses now have to keep some records for many years. Hard copy filing is actually very costly and the Gartner Group reports that documents cost £15 to file, with one filing cabinet costing a company on average £500 a year in floor space rental costs alone. Central filing then adds more cost in terms of time spent retrieving and returning files and records (often by highly paid professionals). Misfiling further compounds the issue and adds even more cost. At some point most businesses eventually need to outsource archive storage which adds still more expense. And just when you think storage costs can’t get any higher, there is the little matter of retrieval. The long-term safety/survival/preservation of records is also an issue. Not all companies have good archiving practices and records are sometimes stored in damp places which makes them vulnerable to mildew. In these days of global warming and climate change, there have recently been many instances of flooding in the UK. Many companies keep archives on computer disk but never check to ascertain their current condition. Fire hazards still abound and computer theft is still rife. Efficiency in retrieving and using company information is key for good service to customers. In theory, all relevant information pertaining to an individual file should be stored in one place. Thus, when retrieved at some future time, a full understanding of the information can be obtained. This was fine until the intervention of post-it notes and more importantly e-mail. The proliferation of e-mail means that huge swathes of pertinent information is effectively lost, residing on a multitude of local hard drives and exchange servers. These ‘islands of information’ usually contain some of the most important details such as specification changes, pricing amendments, order details, etc. and yet they are lost forever from the archiving process. This compromises the completeness of any file and particularly impinges on customer service. In these ultra-competitive times, customer service is often the only differentiator between competing businesses. When busy customers contact their suppliers and service providers they often need help and answers right away; not two days later when the file has been retrieved from off-site storage or when the accounts manager is back from his three-day time management course or even in fifteen minutes when the Finance Director finishes his conference call. The pace of today’s business has never been faster and there are no signs that this will abate any time soon. So, if you cannot provide the information immediately, your customer may well start looking for another supplier that can. Why Electronic Document Management? Data capture needs to target all critical data—not just electronic and paper documents and faxes, but also e-mail messages, diary records, reports, plans and in some cases, audio and video tapes. An important point about EDM systems is they allow you to store files in their original format (e.g. Word, Excel or other specialised software program) so they are editable and modifiable—but within an overarching system. It commonly occurs that departments within a business wish to use their own front-end application program which defines the way in which they conduct their daily business while accessing this information. But where the information is shared, the EDM system is common to each and must be managed as such. Who is allowed access to records is another issue where
each company needs to develop a set of guidelines, with the specific circumstances
that allow access laid down. An audit trail is crucial, enabling the system
to track down the record wherever it is at any given moment. How do EDM systems work? So, how to choose an electronic
document management system? And the benefits? Retrieval times are almost instantaneous and ‘long-lost files’ from ‘the temp’s PC in the corner’are now fully accessible, thanks to intelligent keyword searching. Robust computer back-up systems ensure that all information can be copied and secured off-site, thus ensuring that fire, flood, theft, and Act of God will never again jeopardise your business. Another immediate benefit is a reduction in costs. Archive storage costs disappear and office space per square metre becomes more profitable as the space is used by staff working on the business rather than in storing documents in filing cabinets. In many cases this enables expansion without relocation. The day-to-day costs in paper and other storage consumables are also dramatically reduced. However, the real bonus is better customer service.
When customers call, you can answer their questions on the spot simply
by pulling up the relevant files on screen, rather than having to arrange
to call the client back once you have obtained the hard copy files from
their various locations (including the manager’s car boot or the
filing clerk’s ‘pending’ shelf). What next? With the mounting legislative burden faced, not just
by the heavily regulated legal and accounting businesses but also increasingly
by all businesses in the UK, companies really need to think about how
secure and accessible their information is. For example, there is the
potential to be sued if information on company personnel is not secure.
Scenario: time is money, EDM to the rescue The executive thinks that the company already holds some information on this as it did some similar work two years ago but the information is dispersed around the company in the technical and legal departments, some in hard copy archive storage which is off-site in a warehouse on the other side of town and a lot of it is contained in e-mails long since archived in personal e-mail folders. It will take days to pull the information together and is dependant on other people being available to assist. Now imagine the same scenario but using an electronic document management system. The executive has the same query but all information can be pulled together in a few minutes on their computer. The executive can review the material on screen and follow research paths to find resources, all without having to ask anyone else a single question. A query that could have taken a couple of days, and a lot of administration support time to resolve, is handled in fifteen minutes and the business executive can approach the new business meeting with confidence, and at much less cost to the company in terms of time spent. Invu. Tel: 01604 859 893; Jon.Halestrap@invu.net; www.invu.net IM@T Online July 2005
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TODAY’S BUSINESS ENVIRONMENT there are massive amounts
of data flying around in a huge variety of different formats. A key issue
for businesses is how to efficiently collect and use this data. There
are several stimuli in the drive towards better data capture which include
an increasingly regulated business environment, the associated rising
costs of record storage as businesses must keep certain information for
several years, and the need to improve corporate efficiency in order to
provide better service to customers.