Poor document management is a major driver for employee turnover, according to a new study on broken processes in the workplace.
A Nintex study revealed the top five most broken processes in American workplaces are technology troubleshooting, annual performance reviews, promotion, employee onboarding and document management. It also revealed that 67 per cent of employees said these processes prevented them from maximizing their potential. Additionally, 86 per cent of employees said they were a driving factor behind their decision to quit their jobs.
On average, employees spend hours searching for information
John Brown, CEO of HELUX, says, “It’s no surprise that document management was highlighted in the study. On average, employees spend 30 per cent of their time searching for information — which represents major costs to organizations.”
Brown says organizations are exposed to more information than ever due to the rise of big data. Even worse, the information is coming in at exploding volumes and in different formats such as a Word document and pdf.
Organizations need to move towards Intelligent Information Management
“Some organizations are still using shared drives to manage their information, while others are using enterprise content management (ECM) solutions such as SharePoint, OpenText and M-Files,” Brown says. “It’s a step in the right direction, but these solutions alone aren’t enough without artificial intelligence (AI).”
Brown recommends moving towards Intelligent Information Management solutions that provide tools and features powered by AI.
“Some of these features would include auto-tagging and auto-classification,” Brown says. “At HELUX, our THEMIS IIM Suite offers both including a chatbot that can answer user questions and offer recommendations — 24/7.”
Value of AI expected to hit nearly $1.2 trillion this year
According to Gartner, this year the value of AI is expected to hit nearly $1.2 trillion — which means a 70 per cent growth compared to last year. It is said a major source of this growth is the capability to evaluate difficult to classify information.
“Poor document management hits more than just organizations’ employees, it hits their bottom line,” Brown says. “When your employees spend hours searching for information, it takes much needed time away from making important business decisions, reducing organizational risk and more.”