Digital Transformations to
Eliminate Your Process Frictions
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Statistics and Facts
87% of companies are either unaware of the true costs of customer communications or unable to contain them, as budgetary responsibility for all cost components is typically spread across many departments. Corporate systems and processes often have huge, unnoticed inbuilt inefficiencies whilst executives struggle to meet increasing customer expectations over an expanding range of communications possibilities (Optimus Analytics)
Very few companies deliver an outstanding Customer Experience: 29% are very poor or poor, 35% are OK, 29% good and only 7% excellent. The difference between high and low can be worth millions or even billions of dollars in missed opportunity costs (Forrester)
70% of European organisations lack an accurate understanding of the total cost of their printing (InfoTrends)
For every £1 spent on equipment, supplies and service, another £9 is spent on other burdened costs not being exposed (InfoTrends/CAP Ventures & ALL Associates Group)
74% of companies agree that they need to improve document quality whilst maintaining or improving the ease of content creation, but functional managers are often unable to build the cross-departmental consensus required for a strong business case for change (Optimus Analytics)
Customer experience correlates highly to loyalty, yet most are not satisfied with the quality of communications received and flexibility of self-service options (Forrester)
45% of documents that are scanned are “born digital” (AIIM)
72% of enterprises expect to make extensive use of BYOD in the near future. Some companies may not like the accelerating BYOD (bring your own device) trend but there is universal acknowledgement of its profound impact on business operations. (Kaspersky Lab)
BYOD is reshaping work processes. The median organization that has “mobilized” a process responds 2.7X faster.
However, 76% of organizations have no mobile processes. And only 2.5% of the processes that could be mobile are. (AIIM)
The median cost to process a standard business document, such as a paper invoice, is still over $9 (£6). (AIIM)
Number of processes that ‘could be paper free’ that actually are? The median is just 14%. (AIIM)
Over 30% of organisations report issues with Regulatory Authorities due to lack of complete electronic records. Many causes but some clues are:
Two-thirds of organizations have an Information Management Strategy; only 22% use it.
79% of organizations have an Information Retention policy, but only 32% enforce it.
Join the dots... (AIIM)
Almost 50% of organisations are reliant upon Outlook folders for storing “important” content:
Little surprise that the legal discovery process can take typically weeks or months in most organisations and around 25% of legal costs could be saved with best practice records management, security and e-discovery procedures:
Costs include legal costs, court costs, fines and damages - 23% of organisations could save 25% and an additional 28% could save from 33% to over 50%. That's a big saving in avoidable costs.
More than half of CIOs in 2012 (56 percent) say projects that make money from technology rather than save money are the priority for their CEO. The search for growth is on, and organisations are increasingly looking to emerging markets to pursue it. And with almost two thirds of this year’s respondents having a global or multi-national focus (60 percent), the CIO is going to be key to unlocking this growth potential. (Harvey Nash, CIO Survey 2012)
75% of organisations are missing the potential of mobile marketing and SMS
There has been a clear shift away from traditional ways of staying in touch. A survey of 600 UK businesses found that 86 per cent were not aware of the high response rates of SMS, which can reach up to 28 per cent, almost 6x that of email where the response rate tends to stay around 5 per cent. Similarly, 75 per cent of responders didn’t know that 97.5 per cent of all text messages are usually read within five seconds. SMS has moved on: it can now incorporate rich media like links to websites and documents, opening up both impulse buying decisions and long-term conversations and relationships. (Ofcom)
According to AIIM research, for 40% of respondents who do not use digital signatures, half or more of their electronic document workflows are interrupted by the need for physical sign-offs.
For 23% of non-users, this results in a week or more of process delay on average.
With digital signatures, organizations can enhance collaboration and efficiency - bypassing the costly and time-consuming introduction of paper into otherwise automated processes.
Technology will augment our lives in every way...“Tiny powerful sensors will be embedded in everything from clothes to furniture”. A new intelligent infrastructure will emerge...and holograms, virtual reality and self-driving cars will be commonplace quite soon”
(Eric Schmidt, Executive Chairman, Google Mobile World Congress, February 2012)
