On March 4th, Digital Mind in collaboration with Law Office Eversheds Sutherland Bitāns held an online forum “Enterprise Information Governance in the New Normal“. Over the following weeks, we will regularly publish full speeches from the event on both the Digital Mind website and Youtube channel.
Edgars Stafeckis – Enterprise Information Governance
We begin this series with an appearance from Digital Mind partner and SigningServices co-founder, Edgars Stafeckis who talks about enterprise information governance. Edgars touches upon digital transformation, cost optimisation via digital information management, information lifecycles and compliance with various information protection regulations, as well as various other topics.
Edgars Stafeckis also covered this and other hot business technology topics in a recent interview to diena.lv. An excerpt from the interview is available below, but the full interview is available in Latvian by clicking here.
How can the possible economic impact of implementing information management be determined?
As far as financial benefits are concerned, they can be determined using various comparative indicators. For example, how much time employees spend searching for documents. According to a large study carried out at the end of 2019, on average it took 18 minutes to search for one document in companies without an adequate information management in our region. Similarly, representatives of 83% of the companies admitted that they had had to renew a document at least once because they simply could not find it. This means that employees often spend more time on finding information than on using it.
We also offer our new clients a detailed analysis of the current situation, and in the Baltic States there is such an average that an office worker spends up to 40% of his working time on processing and finding information, transferring it to colleagues and other similar activities. Furthermore, the information is not searched for just for the sake of it, but within the framework of specific business processes, and if the required time is significantly reduced, it allows to improve the efficiency of work, conclude more contracts, serve more customers: whichever is necessary in each case. Based on this time reduction, it is also possible to make estimates of the benefits and savings.
