For professional services companies like consultants, accountants, legal professionals and others, success so often comes down to their ability to forge deeper and longer lasting relationships with their clients than their competitors. Anyone can provide a service — what firms really need to do to stand out in a crowd involves providing an exceptional experience in every sense of the word.
Back when COVID-19 triggered a massive exodus for workers from the office to their homes, many organizations found a silver lining to the disruption. They found out what their mettle was made of. They found resilience. Working from home was all the rage. I personally read article after article glorifying the new normal of remote work — and it certainly does have its upside. At the beginning of the pandemic, many companies were concerned that remote working would be damaging to productivity.
Change is certainly tough on any organization — the scope, scale or specific nature of that change doesn’t actually matter. Some changes are major — like with digital transformation initiatives. When an organization decides that they are investing in a new information management system, for example, it can represent a change to the fundamental way people work — a positive change, but one that requires an adjustment, nonetheless.
To say that information governance is critical in the fast-paced digital era that we’re currently living in is probably a little bit of an understatement. Every day, businesses are creating countless volumes of data that contain the insight necessary to guarantee success for the next five, ten or even twenty years of that organization’s existence.
What is a document management system? Put simply, a document management system is an automated business software solution used to organize, secure, store, capture, digitize, and tag business files. Many document management systems extend beyond basic functionality to include document-related workflows.
At first, this may seem like an esoteric article aimed only at a financial services audience that deals in arcane concepts like shifting bank rates, currency exchange markets, and the LIBOR transition. But bear with me, here. What you’ll find is that the way financial sector companies can manage a voluminous and complex body of contracts and documents is applicable across the board for other document-related compliance triage.
At its core, a digital transformation is all about taking the business you have today and helping it evolve into the organization you WANT to be running tomorrow through a newer and more innovative approach to technology. It’s a way to modernize your infrastructure, improve user experience, and create a bold new company culture — all at the exact same time. It is possible to get this all wrong, however, and the results could be disastrous if you’re not careful.
