Posts Tagged ‘Information’

Finding Information Opportunities in Information Governance

December 3, 2014
An image with a stack of paper reads "White Paper" and shows the FileBound by Upland logo.

Information Governance should be viewed as information opportunity, according to an AIIM white paper.

 

Information governance is a complicated subject for enterprise, starting with the term’s definition. An AIIM white paper we helped sponsor, “It’s not Information Governance, It’s Information Opportunity,” notes that the term has many meanings and depends on who is hearing the term.

Generally, information governance refers to the way to manage records, avoid risk and meet compliance issues.

“We all need to think of Information Governance in capitals, a neon signpost blinking at us across a wasteland of broken and misused information,” the white paper says.

Robert Smallwood, founding partner of IMERGE Consulting and executive director of the E-Records Institute, writes in an article that information governance is “policy-based control of information to meet all legal, regulatory, risk and business demands.”

At its core, information governance keeps needed information and discards the clutter.

“Information Governance is foundational to an organization’s success in the digital age,” the white paper says. So why are so many organizations unsuccessful in this area?

Only 10 percent of organizations surveyed say they have an information governance policy in place that is respected and enforced, and of those, only about 20 percent audit for compliance, according to AIIM research. Executives associate complexity, cost, confusion, and risk with information governance, among other unflattering associations.

The white paper offers advice from executives and experts on how to increase the adoption of information governance policies.

For example, it’s important that employees are able to see the value of information governance in their day-to-day work.

“It is said that the challenge is 80% people, 15% process, and 5% technology.  We often focus too much on the technology at the expense of the other 95%,” Daniel Barchi, CIO of the Yale Health System and Yale School of Medicine, says in the white paper.

To learn more about cutting through the noise surrounding information governance, download the AIIM white paper.

Advertisements

Enterprise Content Management Roundup: September 19, 2014

September 19, 2014
Certain popular backup methods to storing records, such as CDs, are now starting to deteriorate.

Certain popular backup methods to storing records, such as CDs, are now starting to deteriorate.

What’s new in the industry this week:

  1. Once a go-to medium for storing data, the CD has fallen out of style. Read about the life of a CD and why it’s so difficult to preserve their information.
  1. Security issues are a major concern for the government’s move to cloud technology, one federal CIO says. Read about how the defense industry will need to balance cloud and in-house information management.
  1. Some travelers are going to extra lengths to keep their information safe while they are on the road. Use encryption and learn more steps to prevent data breaches.
  1. Bring your own device, choose your own device, or corporate owned, personally enabled: Learn the difference between these mobile strategies to discover the options each one offers.

Don’t miss these upcoming events:

Our Director of Marketing, Jackie Risley, will be hosting a webinar with The Institute of Financial Operations on 9/23, discussing AP automation and analytics. Don’t miss it! Register here.

FileBound is sponsoring an AIIM Australasia webinar on October 22 on how a process-centric approach to enterprise content management can benefit businesses. Pay attention during the webinar and you could win $100! Register for the webinar here.

Don’t miss us at the IOFM AP Conference West October 26-28 in Las Vegas, Nevada! Attend and learn how FileBound can revolutionize invoice processing. Learn more here.

Mark your calendars for April 27-30, 2015, and attend the second annual Upland User Conference! The FileBound team will be there in Lake Buena Vista, Fla., at Disney’s Beach and Yacht Club with the rest of the Upland Software family.

Document Management Industry Roundup: January 24, 2014

January 24, 2014
jkjiijij

This week brought a lot of cloud computing news — see what’s new with the cloud in our industry roundup.

This week’s important resources:

1. We’re proud to see that our headquarters are in Lincoln, NE — the 31st smartest city in the US! http://bit.ly/LJAcpn

2. If you’re moving to the cloud, make sure you know what information to ask for before making the decision. Our Director of Marketing, Jackie Risley, will be part of a webinar discussing the cloud on February 12. Click on the link for more information or to register. http://bit.ly/1mBkHgS

3. Going paperless in 2014 could help your company save on paper costs, but it can also save time and energy, especially when it comes to losing valuable documents. Here are five reasons to go paperless this year. http://huff.to/1aJuKvi

4. While Cloud technology is still developing, it’s quickly shifting from a new tool to a new standard in businesses everywhere. http://onforb.es/1c7FR2h

In case you missed our latest blog:

Many city governments have files dating back over one hundred years. Without a document management solution in place, sorting through papers can seem like a lost cause. FileBound helped the city of Niles, Ohio get their information organized efficiently. http://bit.ly/1joJZig

Clear Cost Model Allows Easy ROI Calculations

January 15, 2014
Business today is desperately trying to engineer cost out of the business...

Business today is desperately trying to engineer cost out of the business…

Return on Investment (ROI) is at the heart of every significant business decision. In the simplest of terms it is a measure of what you get for what you give. Research by Ohio State University found that 4 out of 5 buyers seek “value” before price. In other words, most people will give more to get more.

“Value” includes Quality, Flexibility of the offering, and Availability all as a function of Price. “Quality” means the product delivers what is required (or wanted) and does what is promised. Economists call this the “Law of Marginal Utility.” For the rest of us, it means what blows your hair back won’t necessarily interest the next guy. When we talk about ROI, we have to keep it in the context of what is important to the buyer.

What are businesses requiring today? First, they want more customers and more sales. That is pretty well true no matter what the economic conditions are. Beyond that, however, is that business today is desperately seeking ways to engineer cost out of the business. Most of the improved earnings reports are the result of cost reductions. And while cost reduction began as a way to respond to the recession, evidence suggests that it is quickly becoming a permanent part of business culture.

With a paper-based invoice processing system the company incurs a significant “cost” in handling paper, but it is difficult to quantify the short-run cash savings. Creating a long-run “saving” by installing imaging, for example, doesn’t add value if I still have the floor space, the employees and all my other out-of-pocket expenses. The value may be intrinsic, but few businesses are investing today based upon intangible value. The CFO will say “Show me the money!”

FileBound offers a rare opportunity to eliminate work at a value-based price. A major task in the AP department is entering data from paper invoices into the Accounting System. Typical information entered is a vendor name, purchase order number, invoice number, payment due date and general ledger account code (s) and total due. Because this information is normally put into the accounting system after all processing and approvals, other logging and data entry of the invoice typically takes place before the invoice is ready for entry to the accounting system.

With FileBound all of this changes. Invoices are scanned immediately upon arrival. The needed information is electronically picked up off the
invoice and captured eliminating data entry and other manual tasks to a fraction of the time normally required. Routing and review of invoices is all handled electronically, eliminating hand routing and handling of the invoices. Finally, the scanned information is automatically imported into the general ledger accounting system and invoices can be paid without further data entry.

Best of all, not only is the work more efficient, much of the original work (key entering data) is gone forever. This provides the opportunity to either repurpose staff to cash-producing work (such as AR collections and sales proposal follow-ups) or eliminate head count. Either way, the business gets cash returns for the investment.

Added benefits include improved accuracy and reduced mailing expense. Errors in data entry create extra work and cost. With FileBound, that problem is gone forever because the information is picked up electronically from the invoice. Invoices received at field offices are now scanned, eliminating mailing or courier expense.

High value for a low price with FileBound – an easy ROI!

Furniture Row

December 18, 2013
A room piled full of employee paperwork spelled for inefficient processes at Furniture Row.

An off-site location piled full of employee paperwork spelled for inefficient processes at Furniture Row.

Founded in 1974, Furniture Row is a large, privately held group of companies specializing in home furnishings and headquartered in Denver, Colorado. With stores in more than 30 states and thousands of employees, the company markets sofas, chairs, dining sets, lamps, mattresses, bookcases and much more under the name brands of Sofa Mart, Oak Express, Bedroom Expressions and Denver Mattress.

The Problem

Furniture Row stored its thousands of employee records in stacked boxes housed an off site location. The stacked boxes made it difficult to retrieve an employee’s file, especially if it was located near the bottom of the stacks. When a file was requested, an employee would go to the warehouse, search for it, retrieve it, manually copy it and mail it to the requesting store. Since these sensitive, private files were frequently requested and shared across multiple locations, they needed to be quickly and easily accessible. Unfortunately (and understandably), it typically took up to an hour to retrieve a record and days to share the document with the department that requested it. What’s more, the system was consuming an ever-greater amount of valuable floor space in the warehouse that was needed for storing merchandise. The stacked box system also left these sensitive records vulnerable to security risks and the company was rightly concerned about the potential for disaster recovery if needed.

The Solution

Since the company had no internal technical staff, the FileBound® On-DemandTM (ASP/SaaS) service was the ideal solution for Furniture Row. Up and running in just a few days, FileBound’s On-Demand service combined with scan-on-demand abilities allows images to be immediately available as they are requested across the company. No more searching in boxes. No more waiting for files to slowly make their way across country via USPS. The company especially liked the fact that there was no up front capital investment required to provide the service.

FileBound Results

Furniture Row immediately cut the time required for document retrieval from around an hour to a matter of moments, and the time required to share the information across the country decreased from days to just minutes. The company also now has full confidence that records are safe and secure in the FileBound system, no matter what happens. That’s a huge advancement over the old stacked boxes method of storing records.

Document Management Industry Roundup: October 25, 2013

October 25, 2013
Catch up on this week's important industry news.

Catch up on this week’s important news with our document management industry roundup.

This week’s important resources:

1. After going paperless, the patients, families, and doctors at Duke University Hospital have seen a positive effect on quality and speed of care.  http://bit.ly/H6WnDp

2. Workflow is an important part of managing information in your organization. Find out why it’s so important in part 4 of the four-part series on the pillars of document management. http://bit.ly/H0r78w

3. Good news! Paramount Document Solutions Inc. now offers FileBound products! You can read more about the offerings in the press release here: http://bit.ly/17IYqE5

In case you missed our latest blog:

“Our FileBound Document Management Solution is so affordable; every school district needs to take a serious look at this technology.”  Find out how FileBound helped make it easy for this growing school district to manage its vast amount of information. http://bit.ly/17Jq7fQ

FileBound 6.6 : A Unique Experience

October 16, 2013

 

The FileBound 6.6 release provides a more efficient user experience, mobile support and integration with touch, along with a handful of other improvements we’ve seen a need for from our customers.

Let us know what you think about the changes in the comments below!

Document Management Industry Roundup: September 20, 2013

September 20, 2013
Before you leave for the weekend, cap your day off with our industry roundup.

Before you leave for the weekend, cap your day off with our industry roundup.

This week’s important resources:

1. “The tactics of process improvement have changed, but the current fiscal situation bears a strong resemblance to conditions 20 years ago.” Find out how else current BPM resembles it’s past: http://bit.ly/1dJ2fPa

2. Social media has blurred the lines of records management. Find out how even newer social tech effects the government’s information governance: http://bit.ly/18v4M9b

3. It’s been known for some time that social networks have an impact on consumer purchases. However, do you know what impact social has on IT decision makers when making enterprise purchases? http://bit.ly/18zC2w0

4. Have you seen AIIM’s latest study on the cloud? As a member of the Executive Leadership Council, FileBound was a sponsor. http://bit.ly/19kJVqg

In case you missed our latest blog:

After automating Paladin’s processes, the organization was able to improve invoice turnaround times by 50 percent. http://bit.ly/1a4Jrqy

High-end Document Management for the Masses

September 12, 2013
Document management is a necessity, and FileBound allows an affordable high-end solution.

Document management is a necessity, and FileBound allows an affordable high-end solution.

“Imagine your critical corporate information, accessible from anywhere in the world and always up-to-date. Start using the power of the Internet to drive your document repository!”

Every business or organization, regardless of their size, has certain common characteristics and challenges. They all have documents and information that they need to organize, manage and control in order to ensure their success. Whether they use Quick Books or a high-end ERP solution, they all generate invoices, process payables, have human resource files and have to complete tax forms. Comparatively, if they are a one-doctor clinic or a 500-bed hospital they have to keep medical records and process EOB documents.

Today, information and the documents generated from it are created from multiple sources and stored in many forms. Every organization has Word documents, emails, faxes, paper documents and many other document types. The question is: how do they bring all these pieces together to create a history of their activities, provide customer support and comply with government regulations? Document management solutions are the answer.

In the past, the solutions that would allow organizations to build enterprise systems to manage these challenges were financially out of reach to all but the very largest. They were faced with very few options other than printing everything to paper and filing it in traditional manual filing systems or scanning the paper into a basic imaging system. Even though these systems marginally worked, they limited growth, consumed human resources and created regulatory compliance issues.

Two developments over the past few years have changed this paradigm. These are the introduction of web technologies and hosted services. Together, both of these have reduced the internal infrastructure required to deploy and support document management systems, while lowering the total cost of ownership to the point where document management solutions are within reach of all organizations.

These systems, like FileBound by Upland, allow organizations of any size to design a document management solution to meet their needs. With FileBound, you can capture content from any source, whether its scanning paper or importing emails and faxes or documents created from other applications. Once imported into FileBound, this content can be routed down pre-configured workflows, stored and securely accessed from a web browser or published for website access.

Everyone needs document management and with FileBound, organizations can choose to adopt it as a hosted solution using the FileBound On-Demand service. Or, implement it as a simple network appliance with FileBound Express. Or, license the solution and install FileBound on an IT infrastructure. This clearly demonstrates a paradigm shift, which makes high-end document management systems available to all.

Document Management Industry Roundup: July 19, 2013

July 19, 2013
Do you have a busy Friday? Our industry recap can give you all the important industry news you need as you jet from meeting to meeting.

Do you have a busy Friday? Our weekly recap will give you all the important industry news you need as you move from meeting to meeting.

This week’s important resources:

1. BYOD has benefited businesses by saving an average of $300 to $1,300 annually. Find out what other benefits and disadvantages it brings. http://bit.ly/11vKpfv

2. Big data can be very beneficial once it’s translated into usable information. Find out how it can be utilized for sales. http://ubm.io/14WlbFn

3. How near is the internet of things? Find out what it is and what needs to happen for it to become a reality. http://bit.ly/11WY0fY

4. The issues that arise with BYOD tend to affect SMBs more than larger companies due to their already overstretched IT departments. How does your organization address new IT issues? http://ubm.io/1cYCVBo

In case you missed our latest blog:

With an increase in Florida hurricanes, United’s filing cabinets were filling up quickly – something they realized was an unsustainable practice for growth. http://bit.ly/16JPEVl