EIM Automation and the Market Need
Is information management modernization really that important right now?
“A 2019 study by Digital Banking Report revealed 84% of financial institutions believe it is either extremely or very important to have accessible data throughout their entire organization in order to improve their customer experience.”
There is no denying that data is king. And while many financial institutions (FIs) aim to conquer the “information chaos” problem, few become truly centralized and data-driven. It’s nearly 2020 but paper remains to be prevalent when it comes to data capture, opening organizations up to errors, fraud, information mismanagement and other data-centric risks. The growing complexity of keeping it accurate, reliable and accessible for many is an afterthought, hindering consistency across the enterprise.
That’s why we at Alogent strongly believe that without a dynamic and user-friendly data governance strategy, employee and customer engagement is doomed. Interruptions are a powerful productivity killer and employees taking too much time locating valid, current information in multiple repositories risk damaging relationships. Not to mention instances when stress and line lengths are at an all-time high and employees resort to creating duplicates.
The pain points of searching, finding and managing information sitting within silos and coming in increasing volumes, formats and forms should not follow FIs into the new year. Expanding document processing to more digital-born documents is the beginning of the transformation thousands of customers rely on Alogent to conquer. Replacing paper with digital-born forms, expanding to a variety of document types and migrating to cloud/hosted capture solutions surpass that necessity to simplify daily operations and remain relevant.
By using modern approaches and tools, organizations of all sizes work with us to seamlessly integrate their customer, employee and enterprise data to curtail the challenges keeping executives up at night: regulatory compliance, information privacy and data-related security. Governing information from its creation and automating vital processes allow banks and credit unions gain the flexibility to maximize their investments and efficiencies.
It’s for that reason Alogent’s content and information management platform builds a proper foundation with innovative storage tactics and simpler interface to create a powerful tool of actionable intelligence for a competitive advantage. Eliminating manual, time-consuming processes by managing information using automated workflows and utilizing digital means for capturing, storing and organizing data replaces paper forms and removes potential growth roadblocks. With simple search and retrieval, employees are empowered with a holistic view of all associated account holder information for better and faster service.
All roads lead to the UX
To be of any benefit to business analytics and strategy, organizational consistency around the needs of users must become the priority. Freeing data from its shackles with flexible digital capabilities for useful insights and pattern recognition is critical in improving productivity and enhancing the UX.
Organizational data needs to be:
- Engaging – using data intelligently from various devices to drive meaningful conversation
- Accessible – Anywhere, anytime seamless access is no longer a fancy feature, it’s a demanded functionality
- Organized – Gone are the days of multiple formats and locations. UX is the name of the game and if your employees are taking too much precious time locating information instead of finding it laser-fast through a user-friendly search engine, you are falling very quickly behind.
With Alogent’s content and information management suite, FIs worldwide are turning information strategy into reality. In the proper context, captured consistently for streamlined workflows and processes, institutional data empowers business decisions and goals. It’s more than fancy file cabinets. A successful enterprise content and information management system is easy to use, yields short and long-term productivity, saves money and enhances your relationships.