Information management: unlocking data’s potential to drive business growth

Business leaders are already aware of the pivotal role emerging technology will play in boosting efficiency, revenue growth, and overall business value.

Yet implementing successful change is easier said than done, especially as employees are increasingly able to work from anywhere. Despite the challenges, a seamless digital experience is expected in a modern workplace, and most organisations’ productivity depends on employees having access to all the information they need to do their jobs efficiently. However, daily friction still occurs because organisations haven’t been implementing the right solutions to help employees access information as effectively as possible.

To deliver high-quality modern operations, accessible information and robust information management (IM) processes are paramount. In fact, according to the Association for Intelligent Information Management (AIIM), 72% of business leaders agree that information management will become more important over the next twelve months¹.

Many see great potential for emerging technologies like AI and automation in ensuring their business’ modern ways of working run smoothly and provide a competitive advantage. But without effective information management underpinning such developments, they ultimately run the risk of falling flat.

Information management is the practice of managing and using information, as well as the infrastructure which supports how data is created, collected, shared, and controlled.

The central purpose of information management is empowering businesses with readily available information, wherever and whenever it is required, in a secure and compliant manner. Without solid information management principles, the connection between people, processes, and information within a business is lost.

An effective system of information management can enhance business value and help organisations grow and manage their data in line with security and compliance obligations.

Despite the clear benefits of information management, adoption has been slow and inconsistent. Canon’s research revealed that organisations today are in a similar position to 2022 when it comes to tracking, accessing, sharing, and deleting documents for audit purposes².

Although many organisations are seeking to harness automation and AI technologies to make these processes easier, there have been challenges around integration, as 10% report abandoning a new technology implementation due to persistent challenges³.

Businesses are yet to fully embrace the benefits of effective information management. 28% of IT leaders still manually fill out standardised organisational documents each time, and 26% of employees experience errors or inconsistencies caused by data silos⁴. And when over 25% of employees are hampered by poor information management, it’s clear that automating such processes should be a priority for IT decision-makers⁵.

Embarking on a digital transformation journey can be daunting. However, business success is tightly tied to the flow of information, making information management critical in unlocking this value.

For many, the first step towards better information management is evaluating current business processes and the information workflows that underpin them. This allows businesses to understand where they have dormant potential – and data from Canon’s information management research shows that a significant number are in this position⁶.

Through good information management, organisations can cleanse and analyse information to determine which tools would be most effective in their unique situations. That drives informed investment decision-making for leaders and even allows businesses to customise solutions to fit their needs.

The rewards are significant: intelligent information management systems can automate routine tasks, enhance information accuracy, and improve decision-making. This is the future of information management, but it needs careful nurturing to reach its full potential.

Investing in smart information management is not just about making operations easier. As businesses integrate more systems and create more data, they will see a growing need for deeper integration to support more complex technologies.

Organisations have begun to redevelop and futureproof their processes with emerging technologies such as big data and AI. To get the most value from these investments, they must ensure strong access to and effective use of their data holdings.

It’s a combination of these factors that supports the success of organisations’ digitisation and information automation efforts. That’s why good information management practices are so essential. It’s crucial that leaders can access information within their organisations to understand where emerging technology can deliver the most value, ensure seamless integration, and generate the reliable and up-to-date information needed to power AI and big data technology.

Information is only going to become more important to businesses. Putting robust information management in place now is therefore key to unlocking operational efficiencies and delivering an improved customer experience in the future. Data is a tool – so businesses must use it to stand out, grow faster, and uncover new value.