Document management drives innovation.Companies that focus on how documents and information are managed are better equipped to reduce costs, respond more quickly to changing market conditions, and increase profits, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent study released by the Global Services Division of Xerox (Xerox Corporation, Stamford, CT, www.xerox.com) A major manufacturer of analog and digital copy machines, computer printers and document management systems. Corporate headquarters are in Stamford, CT, while manufacturing and marketing is in Rochester, NY. Corp. and conducted by research firm IDC. Sixty-eight percent of the 550 U.S. executives interviewed for the survey said that effective document management initiatives are driving competitive innovation, profits, and revenue. The survey found that most businesses are overlooking o·ver·look tr.v. o·ver·looked, o·ver·look·ing, o·ver·looks 1. a. To look over or at from a higher place. b. an opportunity to improve their business while those that do have an effective document management strategy in place are realizing valuable revenue gains, competitive advantage, and improvements in overall efficiency within their organization. Among the survey's other key findings: * Almost two-thirds of survey respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. have initiatives in place to reduce the total cost of document management. On average, they expect to achieve a 20 percent reduction in costs. * While knowledge workers spend 20 percent of their day looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. information in documents, about 50 percent of that time workers cannot find what they are looking for. * Sixty-six Adj. 1. sixty-six - being six more than sixty 66, lxvi cardinal - being or denoting a numerical quantity but not order; "cardinal numbers" percent agreed that effective document management drives customer service. * More than half of the information that companies share with their customers is in the form of paper documents. However, more than 60 percent of respondents have not successfully integrated hardcopy documents into their digital workflow In print publishing, using the computer to lay out text and illustrations prior to creating film negatives for every page or going directly to plate. Prior to digital workflow, the typesetting and pre-press stages were far more time consuming and labor-intensive. . Although paper still plays an essential role in business, the profit-growth leaders had far more digitized work processes (49 percent) than their average profit-growth counterparts (30 percent). Barriers to effective information use include inconsistent content or file formats (27 percent), search/ retrieval challenges (22 percent), and increasing regulatory restrictions (17 percent). Respondents corroborate To support or enhance the believability of a fact or assertion by the presentation of additional information that confirms the truthfulness of the item. The testimony of a witness is corroborated if subsequent evidence, such as a coroner's report or the testimony of other the importance of addressing both structured (e.g., forms, invoices) information and unstructured (e.g., e-mail, Word, Web documents) information in a document management strategy. About 40 percent of the organizations indicate that the role of both IT managers and chief informtaion officerss is important in driving document process changes within an organization. The survey results are detailed in a white paper from IDC, "Organizations Shift Focus to Information Management: The Role of Documents in Highly Effective Business Processes." To access it, visit www.xerox.com/globalservices and click "White Papers." |
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