In
the fast-paced world of business, timely retrieval and delivery of
information is essential. Without that information getting to where it
needs to go, disaster strikes. Even worse, bad information could lead to
confusion and negatively impact both productivity and client
relationships. For this reason, many businesses recognize the importance
of investing in software that will keep them organized. Others,
however, are not convinced. So if you need to convince somebody (like
say your boss) of the importance of organizing your information, how do
you go about doing that? Hopefully the following will provide the hard
data your boss wants to justify switching over to a digital file
organization
the fast-paced world of business, timely retrieval and delivery of
information is essential. Without that information getting to where it
needs to go, disaster strikes. Even worse, bad information could lead to
confusion and negatively impact both productivity and client
relationships. For this reason, many businesses recognize the importance
of investing in software that will keep them organized. Others,
however, are not convinced. So if you need to convince somebody (like
say your boss) of the importance of organizing your information, how do
you go about doing that? Hopefully the following will provide the hard
data your boss wants to justify switching over to a digital file
organization
system.
Start From the Top
Nobody
is more important to the coordination of business actions than the
executives. Without them, employees may work and work hard, but not
always toward the same ends. Executives thus have the greatest need for
information on all projects, and also tend to spend the most time.
Estimates on time wasted searching for data by executives range from 150
hours to six weeks per year: that is anywhere from a month to a month
and a half.
is more important to the coordination of business actions than the
executives. Without them, employees may work and work hard, but not
always toward the same ends. Executives thus have the greatest need for
information on all projects, and also tend to spend the most time.
Estimates on time wasted searching for data by executives range from 150
hours to six weeks per year: that is anywhere from a month to a month
and a half.
To
put that in monetary terms: if an executive makes $200,000 per year,
then the company is essentially spending anywhere from $16600 to $25000
per year, per executive, to find lost information. Naturally, this
dollar amount scales according to executive salaries, but it will always
represent between 8% and 12.5% of that person’s time. To put it in
perspective: that’s 8% to 12.5% of their time spent finding what they
need just to work, a figure I’m sure they’d not find acceptable for the
employees underneath them and they’d be unhappy with learning about
themselves.
put that in monetary terms: if an executive makes $200,000 per year,
then the company is essentially spending anywhere from $16600 to $25000
per year, per executive, to find lost information. Naturally, this
dollar amount scales according to executive salaries, but it will always
represent between 8% and 12.5% of that person’s time. To put it in
perspective: that’s 8% to 12.5% of their time spent finding what they
need just to work, a figure I’m sure they’d not find acceptable for the
employees underneath them and they’d be unhappy with learning about
themselves.
The Average Office Worker
It’s
not just executives who need information, it is the employees
underneath them as well. On average, 85% of information is found in some
disorganized medium: e-mails, videos, graphics, and other
non-structured systems. Yet, employees need information as surely as the
executive team does. The average office worker spends anywhere between
25% and 35% of their time every day finding the information they need to
do their job.
not just executives who need information, it is the employees
underneath them as well. On average, 85% of information is found in some
disorganized medium: e-mails, videos, graphics, and other
non-structured systems. Yet, employees need information as surely as the
executive team does. The average office worker spends anywhere between
25% and 35% of their time every day finding the information they need to
do their job.
That
is time people would love to get back and invest into doing the job
they were hired to do. It is a common gripe for employees, and a problem
that is only likely to get worse. With businesses producing, mining,
and collecting more information than found in textbooks, this time spent
just finding information is only likely to grow.
is time people would love to get back and invest into doing the job
they were hired to do. It is a common gripe for employees, and a problem
that is only likely to get worse. With businesses producing, mining,
and collecting more information than found in textbooks, this time spent
just finding information is only likely to grow.
The Bottom Line
Now
that we have broken things down by executive management and individual
worker, let’s get down to the bottom line of what lost information is
costing your business. Let’s create a hypothetical organization of 1000
knowledge workers, each drawing salary and benefits that together
average $80,000 per year. In this hypothetical organization, we will see
$6 million spent just trying to find lost information, and $12 million
spent attempting to replicate information that could not be located. All
of that money is lost over the course of a year.
that we have broken things down by executive management and individual
worker, let’s get down to the bottom line of what lost information is
costing your business. Let’s create a hypothetical organization of 1000
knowledge workers, each drawing salary and benefits that together
average $80,000 per year. In this hypothetical organization, we will see
$6 million spent just trying to find lost information, and $12 million
spent attempting to replicate information that could not be located. All
of that money is lost over the course of a year.
The Solution
Recognizing
the problem and solving the problem are two different things of course,
but there are solutions out there already. Good file organization
software which you can read about at www.lucion.com will
accelerate the process of finding and storing information that your
employees need to be successful. There are many ways to organize your
business and help get that wasted money back in the form of increased
productivity among your workers.
the problem and solving the problem are two different things of course,
but there are solutions out there already. Good file organization
software which you can read about at www.lucion.com will
accelerate the process of finding and storing information that your
employees need to be successful. There are many ways to organize your
business and help get that wasted money back in the form of increased
productivity among your workers.