The digital transformation is upon us, like it or not.
Theories about how to grow small businesses into empires are numerous. Unfortunately, most of these ideas are espoused by people or, ahem, “gurus’ who are bona-fide wannabees and truly haven’t the faintest idea what they’re talking about.
Thousands of our customers have grown their business through our document management solutions, and have themselves admitted that they could only get so far without the tools we offer them. After all, if a business technology isn’t helping a business grow, it has failed in its purpose.
Without further ado, let’s go over the points of proof that eFileCabinet helps client-centric businesses grow from the ground up.
The Nature of Client Oriented Businesses in the Face of Digital Transformation
Franchise organizations and larger businesses do not have to worry about growth as much as their smaller counterparts. But the only way for a smaller client oriented business to grow is by acquiring more clients.
While getting more clients is always great and worth celebrating, most organizations fail to implement the information controls and document assurances needed to prevent an insurmountable burden on the existing employees of the company.
When the available resources to serve the clients of any given business are dwindled in relation to the increase in client volume, the infrastructure of the organization crumbles.
Clients aren’t retained. They take their business elsewhere. And all of the sudden, your business is back at square 1.
Sounds simple, right?
Well, it isn’t.
Given the advent of the digital transformation, this task has become more complex than ever, and for the following reasons.
What “Digital Transformation” Really Means
The biggest part of digital transformation is the sheer volume of information that companies produce and consume. 90% of the world’s data has been created in the past 2 years.
And most of it has been created by businesses.
This imposes a unique dilemma from a growth and productivity standpoint. Information is only as valuable as a group’s ability to utilize it. Without the technology in place to harness all this information, organizations will suffer information entropy.
And with information entropy, companies are going to have an extremely difficult time growing. And the problem rarely stays motionless—it usually culminates in a snowball effect where the same number of employees are chasing a greater volume of information with each passing day.
Device Agnosticism: Finding Solutions to the Digital Transformation Dilemma
If you don’t want to remember anything else from this article, remember this: your content and document management solutions must be functional on a range of different devices.
What does that look like?
Well, for starters, it means having an information management software that caters to the digital transformation—and, although some would dispute this—it requires a cloud based document management technology.
Why the Cloud is Essential to Navigating the Digital Transformation
The cloud is the only way to achieve device agnosticism within an organization, meaning It enables workers to use the same software across many devices: computers, mobile phones, and tablets. The digital transformation means providing accessibility to the information workers create, and this is the easiest way to achieve that.
It’s the productivity/growth/ dilemma. All this cool stuff comes at a price. It means you have to worry about multiple devices. Want to grow?
You’re gonna have more devices and information to manage, so how do you do that? Through efile. You gotta find a sophisticated way to say this. It must be crystal clear. When we are speaking about growth, you bring on more customers?
Growth Comes at a Price
Digital transformation will always come at a price, but it is the only way that smaller organizations will ever be able to level the playing field against their larger competitors. Choosing the best cloud-based solution for delivering digital transformation at your organization doesn’t have to be difficult.
But that doesn’t mean it’s not an incredibly savvy investment.
Compliance is a big part of the growth investment.
Many client-centric industries and occupations. Take accounting, financial services, insurance, healthcare, and services for instance. FIO, Sarbanes-Oxley, Gramm-Leach-Bliley, and HIPAA, for instance.
Although HIPAA applies to patients and not clients per se, clients and patients are tantamount in the service they expect from the organizations in which they transact their business.
Rapid and unchecked growth often results in non-compliance, which is always going to be more expensive than the up-front costs of ensuring compliance during periods of intense growth.
compliance and things to manage because digital transformation is growing your company so many access points and devices. Growth comes at a price.
Before you choose to opt in to any document management or content management solution to facilitate the digital transformation in your workspace, first understand the difference between the following 3 technologies.
If you don’t know the differences below before prospecting your options, there’s a good chance you could be swindled out of your money.
A toddler’s Tonka truck is to a Komatsu tractor what a cloud storage solution is to document management and enterprise content management system: absolutely nothing.
Cloud storage is not document management. It is designed for consumers who want to share information without compliance or collaboration demands. It isn’t scalable, and should never be trusted to facilitate enterprise-grade digital transformation.
If you’re a small to mid-sized business, this is going to be your best bet for facilitating the digital transformation in the workplace. Even if you’re a larger organization, satellite and remote access features can make document management a wise choice.
For cost-effective digital transformation in a compliance and client intensive business with 1-10 employees, this will be the best option.
Enterprise Content Management (ECM)
If there is a difference between document management and enterprise content management, it’s that document management manages the information of an organization, whereas enterprise content management measures the information within an organization.
However, at its essence, document management is a smaller component of enterprise content management, comprising roughly 20% of what an ECM solution can accomplish for its end users.
Enterprise Content Management (ECM) is the most complex digital transformation technology available on the market today, and many experts are disputing whether the term “ECM” can be applied to what ECM vendors like IBM and OpenText are doing. If you have a budget over 50k for ensuring digital transformation and have a large, client-centric business, ECM may be a viable option.