WHAT’S THE PROBLEM?
The proliferation of information poses a significant challenge for organizations. The number of documents in the world doubles every six to nine months. We spend 60 percent of our time creating new documents and revising or recreating old ones. International Data Corporation (IDC) estimates that the average worker today spends over 50% of their time finding information, (as opposed to using it).
Although documents contain as much as 90 percent of an organization's knowledge, they are often unmanaged and stored haphazardly. This indifferent approach results in documents that are inaccurate, outdated or just plain lost. Worse yet, valuable information may be undocumented or inaccessible, carried in people's heads or hidden away on an individual's e-mail in-box or PC hard drive.
Information, and responsibility for its management, have typically been scattered in organizations. Records management centers, libraries, information technology and line areas have all been involved in managing parts of the corporate information resource which includes electronic and paper records, access to externally sourced information in hard copy and electronic form, and internal databases and transaction processing systems.
The opportunity to address corporate information issues stems from the fact that in many regulated industries, the paper file remains the prime source of current document information. In general, a paper file contain original signed contracts and printouts of electronically-created documents, (e-mail correspondence, MS Word Docs, worksheets, etc), and this paper file contains ~ 100% of vital documents. As an up-to-date facsimile of these files are not maintained, (either on paper or electronically), this results in:
• Major exposure to loss of vital corporate information
• Complex recovery process
• Non-compliance with stated information recovery policies.
Also…
There are widely-held general misconceptions that:
• Information Management is technology-driven, rather than business-driven.
• Benefits are difficult to measure
• Return on investment doesn’t meet expectations.
Consequently many companies have had unsuccessful forays into document imaging, in many instances expending $M’s in unsuccessful attempts to accurately capture corporate document information. The main reason for failure is purchasing a solution to an emotive (as opposed to analysed & specified) problem and a focus on gimmicks and technology – i.e. Fitting a problem to a solution, which rarely works. (e.g. Getting rid of filing cabinets).
REASONS TO PARTNER WITH TBS
With today’s legislative obligations, (e.g. Sarbanes Oxley, etc) which put corporate liability on information integrity, security and availability; there is a pressing need to secure document information. This needs to be done in a manner that guarantees 100% accuracy of information capture, relative ease of retrieval / access to electronic versions, and integration with data systems & applications.
TBS’s approach has consistently been that organizing corporate information involves:
• A focus on people and process rather than technology
• A full and detailed understanding of information flows and needs
• Careful business analysis of the current and future needs of the business
• The management of change and risk
• The assessment and provision of appropriate technology
• Defining each project with a set of Deliverables, Costs and Timeframes
Documented, accessible knowledge is critical to an organization and can improve decision making, customer service and workflow efficiency.
SAMPLE CLIENT PROJECTS IN BERMUDA:
The following are several of the corporate case studies
Global Insurance Company 1
The conversion and transcription of existing data from a proprietary system to implementation and integration of web-based information management system.
The conversion of all paper-based data into the web-based system.
Scanned >2M pages of paper documents and performed data conversion of 4 million images. 18 month duration for back-file scanning, before passing to in-house team for on-going, on-line imaging. Follow-on paper file capture projects in Zurich, Munich and Paris conducted by TBS UK.
Global Insurance Company 2
Consulting engagement to review document classification, inventory and process flows for major insurance lines of business. Project included identification of vital documents and risk exposure for document loss.
Global Insurance Company 3
Provide scanning/imaging services to capture >1M pages of paper documents from insurance files and commit to in-house FileNet Info Mgt system.
Global Insurance Company 4
Consulting engagement to determine document inventory, classifications, and process flows.
Provide scanning/imaging solution to replace microfilm and set up in-house staff to capture archived document files.
Global Banking Company 1
Provide scanning/imaging solution and outsource resources to scan daily live Teller Slips, Loan Docs and Checks. 3 year project - now handed over to in-house staff.
