One would think that the rapid pace of changing technology is the primary struggle for organizations on their journey to transforming into a truly digital organization. However, based on our recent state of the intelligent information management industry research, that is simply not the case. At the top of the list of true obstacles that organizations face is money – "lack of budget and resources" (26%). This is followed by a "lack of a true strategy for managing information assets" (24%), and "an immature culture" (18%). Here's a look at the data from the research:
We surveyed members of the AIIM Community as a part of our yearly look at the state of the industry. The numbers are in— 46% of respondents graded their organizations as poor or needs improvement when it comes to dealing with the rising tide of information chaos. Even more alarming, senior executives feel more confident in their efforts than the reality would suggest. Here's a look at how the AIIM Community self-assessed on how well the strategies for business and technology align in their organization. For fun and visual effect, we've created this 2021 Informational Professionals' report card to present the results.
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How many times have you left a joint meeting of members of your organization's Information Management (IM) and IT teams thinking that everyone was on the same page, only to find out a few days later that the decisions your colleagues in the "other" unit took away were totally different from what your unit did? It happens more often than we think. And when it does happen, we should consider ourselves lucky if it takes only a few days for the inconsistent understanding to surface. The tough cases are those when the misunderstanding doesn't come to light for weeks or even months.
Twenty years ago, the average consumer used two touchpoints when buying an item, and only 7% regularly used more than four. Today consumers use an average of almost six touchpoints, with nearly 50% regularly using more than four. (Marketing Week) And that’s not including the after purchase touchpoints including, invoicing, billing, shipping, service and support, and feedback. With constantly changing customer experience expectations, it is necessary to put customers at the center of a multichannel strategy rather than letting each line of business (LOB) in an organization decide the communication touchpoint and channel. In fact, 86% of buyers are willing to pay more for a great, holistic customer experience, and the more expensive the item, the more they are willing to pay. (PwC) The opposite is also true. In another survey of 15,000 consumers, it was found that 1 in 3 customers will leave a brand they love after just one bad experience, while 93% would completely abandon a company after two or three negative interactions. (PwC)
The workplace in 2021 will demand a different set of skills. Now more than ever, organizations need to embrace disruption as a springboard for competitive advantage and adopt new ways of working that invigorate organizational performance.
Here at AIIM, we believe that information is a business asset. Your information has the potential to help you digitally transform and understand, anticipate, and redefine experiences for your customers. But, information is a different type of asset. An asset like money is much more straight-forward because it’s easy to see its value and easy to understand. Your information is much different in that it needs attention in order to become an asset.