The importance of information in business: information flow and control

Most businesses and organizations use both classic archiving, as well as electronic archiving systems. Depending on the industry, the amount and workflow of documents, archiving becomes an issue eventually. Electronic archiving within a company means using either a document management system, storing documents on a local server or making backup copies on different storage devices regularly.

Archiving becomes an issue once companies start to expand their activities, the number of commercial transactions increases or even after a period of existence. Classic archiving has the great disadvantage of needing to allocate a physical storage space, moreover, it’s difficult to track down and identify documents and it’s very time consuming for the employees to work with such systems.

Documents are important instruments of communication between different departments in a company, between different locations and in relationship with third parties. Monitoring and document control, organizing documents of internal and external sources, making decisions quickly in different levels (manager level and department level) are all reasons for the importance given to information flow. No matter what you company’s current document management system is (electronic or classic), you should be preoccupied about this issue, because it’s important to monitor the internal information flow.

Information is often exchanged in physical form from one department to another, from one level to other, or it’s sent via Internet. That’s why it’s difficult to monitor the information flow. The only way to find out the different stages of communication is through meetings or conferences.

Also, task assignment is often made verbally.  However, various studies have shown that assigning tasks is not the problem, but rather the impossibility to monitor all the assigned tasks, the uncertainty that responsibilities were understood clearly (in terms of urgency, importance, deadlines), the impossibility to know the work progress and receiving delayed answers from the delegate person.

That’s why electronic signatures are important in the evolution of a business, but their importance is often underestimated. The reasons for this reluctance are caused by different mentalities, the fact that the advantages are not accentuated enough, the fear of losing data, higher costs, mistrusting the security of data transmission and the fact that businesses don’t have the necessary infrastructure. Given all this, switching from paper to electronic documents means that success will not come instantly, because all these issues need to be solved first.

Information is more important in business world then money itself. Large corporations have employees who’s only job is to gather information about their competitors. Even the smallest information, used at the right time, can bring a consistent profit. In the era of communication, information is more accessible then it ever was, but now it’s important to manage it properly. Big data has no value if it’s not analyzed and categorized accordingly

In order to become valuable, information needs analysis. A common financial report might hide weaknesses easy to speculate by competitors, just as well as it might mask the truth.

Information is more valuable today that it was ever before and it’s worth a lot of money. However, information is only worth something if it’s used in the right context, if it’s monitored and controlled. Easier access to large amounts of data means also increased security risks. Therefore, a document control system able to store and archive electronic document, offering control over the entire life-cycle of a document is and absolute necessity.

Information is knowledge. Knowledge means power. Power means profit. Invest in a document control system that’s complex, secure and user-friendly. Request your free offer today!