According to the report, ‘A new perspective: Ricoh Document Governance Index’, most companies review their document processes once a year. But 56% are spending only a day or less doing so, and following review, the majority of businesses make no changes.
This ‘light touch’ approach of spending just a day reviewing vital processes could have significant long term consequences. Firstly, companies are not making improvements with their document processes. Secondly, confusion within businesses is becoming more significant. In this case, smaller businesses outperform larger businesses, and better at reviewing their processes regularly.
Business leaders were evenly split on whether it is best to manage this review internally (46%) or to outsource it. The long term cost of not reviewing document processes properly could be critical. Almost 40% of organisations felt they would lose their competitive edge if they could not keep up with change.
As a business leader, ask yourself the simple question. Do I have a strategy to manage my document processes? Is this also linked to my overall business objectives?
Rather than falling victim to an increasingly complex and data led digital world, businesses should instead aim to future-proof their internal processes.