How to Increase Your ROI with Information Management System Modernization
•
0 likes•312 views
At the core of every business function – from leadership to line of business – the inability to access and properly manage information affects operational efficiency, customer experience, and profitability. The proliferation of “Big Content” in the digital age has resulted in a patchwork of costly legacy information systems and technologies that store and manage different types of content. It has also left organisations with no way to modernize those systems or connect that information to make it truly useful. So how do you strategically modernize to move forward and also work – efficiently – in your multiple systems? In this deck, we’ll explore how a new approach to information management modernization using a content services platform that can help you: - Connect systems to unify your information - Leverage existing IT investments - Remove information silos - Streamline processes and information access - Strategically consolidate, without impacting end users
Recommended
Recommended
More Related Content
More from Nuxeo
More from Nuxeo (20)
Recently uploaded
Recently uploaded (20)
How to Increase Your ROI with Information Management System Modernization
- 1. Underwritten by: Presented by: #AIIMYour Digital Transformation Begins with Intelligent Information Management How to Increase Your ROI with Information Management System Modernization Presented 11th October, 2018 How to Increase Your ROI with Information Management System Modernization An AIIM Webinar presented 11th October, 2018
- 2. Underwritten by: Presented by: #AIIMYour Digital Transformation Begins with Intelligent Information ManagementYour Digital Transformation begins with Intelligent Information Management
- 4. Underwritten by: Presented by: Tips for Participating in Today’s Webinar Group Chat – to talk with each other, found in the icons along the bottom. Note: everyone can see and participate. Q&A – for questions to the speakers, held for the end (and tech help). Check out the Resources available to you today, in the box to the right of the slides. A Survey will open at the conclusion of the webinar – we value your feedback on how we did today.
- 5. Underwritten by: Presented by: Martyn Christian CEO & Founder UNDRSTND Group Dave Jones VP, Product Marketing Nuxeo Host: Theresa Resek, CIP Director AIIM Today’s Speakers
- 6. Underwritten by: Presented by: Martyn Christian CEO & Founder UNDRSTND Group Introducing our Featured Speaker
- 7. Underwritten by: Presented by:
- 8. Underwritten by: Presented by:
- 9. Underwritten by: Presented by: Dave Jones VP, Product Marketing Nuxeo Introducing our Speaker
- 10. Underwritten by: Presented by: What does success look like?
- 11. Underwritten by: Presented by: Short Term • Solving specific problems • Laying the foundation • Non-disruptive Rapid Return on Investment Successful Modernization Long Term • Repeatable creation of solutions • Widespread adoption and use • Enabling consolidation Reduced Total Cost of Ownership
- 12. Underwritten by: Presented by: Short Term • Solving specific problems • Laying the foundation • Non-disruptive Rapid Return on Investment Successful Modernization Long Term • Repeatable creation of solutions • Widespread adoption and use • Enabling consolidation Reduced Total Cost of Ownership
- 13. Underwritten by: Presented by: Pick a Problem
- 14. Underwritten by: Presented by: Information Chaos Reigns 4 of organizations struggle to find the right information in a timely manner believe that getting access to information locked in legacy systems is vital have an inability to connect information from different systems 76%75%79%
- 15. Underwritten by: Presented by: Finding Information – an example System 1 System 2 System 3 System 4
- 16. Underwritten by: Presented by: System 1 System 2 System 3 System 4 • 1m to find info Finding Information – an example
- 17. Underwritten by: Presented by: System 1 System 2 System 3 System 4 • 1m to find info Best case 1m Finding Information – an example
- 18. Underwritten by: Presented by: System 1 System 2 System 3 System 4 • 1m to find info • 1m to switch systems Best case 1m Finding Information – an example
- 19. Underwritten by: Presented by: System 1 System 2 System 3 System 4 • 1m to find info • 1m to switch systems Best case 1m Next Best case 3m (1m + 1m + 1m) Finding Information – an example
- 20. Underwritten by: Presented by: System 1 System 2 System 3 System 4 • 1m to find info • 1m to switch systems Best case 1m Next Best case 3m (1m + 1m + 1m) Next Best case 5m (1m + 1m + 1m + 1m + 1m) Worst case 7m (1m + 1m + 1m + 1m + 1m + 1m + 1m) Finding Information – an example
- 21. Underwritten by: Presented by: Avg time to find information - example 1 4 min
- 22. Underwritten by: Presented by: Avg cost to find information - example 2 4 min * Number of staff * Searches per year * Annual Salary $ £ €
- 23. Underwritten by: Presented by: Find out for yourself 3 Nuxeo.com/Modernize
- 24. Underwritten by: Presented by: Connect and Consolidate 4 Connect Allows organizations to connect to existing information sources Consolidate Facilitates the migration of information from legacy systems at your own pace
- 25. Underwritten by: Presented by: Connect and Consolidate 5 Connect Allows organizations to connect to existing information sources
- 26. Underwritten by: Presented by: Connect 6 Connect Allows organizations to connect to existing information sources System 1 System 2 System 3 System 4
- 27. Underwritten by: Presented by: Connect 7 Connect Allows organizations to connect to existing information sources System 1 System 2 System 3 System 4 Info Hub
- 28. Underwritten by: Presented by: Rapid ROI The Results
- 29. Underwritten by: Presented by: Rapid ROI The Results Upto 75% reduction
- 30. Underwritten by: Presented by: Additional Benefits 0 Connect Key Benefits • Connect to multiple repos • Get value from existing (legacy) systems • Rapid Return on Investment (ROI) • Consistent platform for modernization
- 31. Underwritten by: Presented by: Conclusions Successful modernization of information management is based on 2 metrics Rapid ROI Reduced TCO Connected Systems can deliver rapid ROI Increasing as more systems are connected Consolidation can deliver reduced TCO
- 32. Underwritten by: Presented by: Thank you! Dave Jones djones@nuxeo.com @InstinctiveDave Nuxeo.com @Nuxeo
- 33. Underwritten by: Presented by:
- 34. Underwritten by: Presented by:
- 36. Underwritten by: Presented by:
Editor's Notes
- Good afternoon everyone and thank you Martyn for very clearly explaining both some of the challenges faced organizations today – but also how the market is moving to address them. I’m going to change the focus a little and take us right back to the first slide of the webinar that posed the question “how do we increase ROI or return on investment with information system modernization? Now there are a lot of pieces to that answer but I almost want to take a step back in order to take two forward. so I want to start with a slightly different question . CLICK
- What does success look like? If we are looking to modernize how we manage information – and many of us are – what is a successful implementation?
- Well for me there are actually two specific types of success that we should be looking for – namely short term and long term. From a short term perspective we should be looking to solve specific problems or challenges within the way we manage information within the business We should be laying the foundation for more work – but probably most importantly of all. - we should doing this in a completely non-disruptive. If we get all of that right – then by definition we should achieve a rapid return on investment. Which is of course what we’re discussing here. However, I DO want to point out that modernization can also deliver significant long term benefits and success also. It can provide a repeatable way to creation new solutions to business problems, and if starts solving real problems on a regular basis it can garner widespread and use – something that old school ecm tools really never achieved. And finally it can help you manage and control consolidation of ALL of the many legacy systems that you have managing information within your business at the moment. By doing that in conjunction with the other benefits – the business can see an overall reduced total cost of ownership for managing information. And its very important when you start out on a modernization journey to understand which of these success criteria you are aiming for – because the way in which you get to them are different. CLICK
- And to that point – bringing us back to the start of the conversation – in this webinar we’re specifically going to focus on delivering ROI from modernization – we do have a follow up webinar at the end of October that will focus on how to achieve long term reduced total cost of ownership – and we can provide details of that webinar to anyone who is interested later. But back to today – how do we achieve ROI ? CLICK
- Well let’s pick a business problem to attack. CLICK
- And there are plenty. These figures come from AIIM research from early 2018 that show that 79% of organizations can’t connect information from different systems ¾s think that getting access to the information locked in legacy is vital. And when combine those challenges together it should come as no surprise that 75% struggle to find the right information quickly. Its no wonder really is it? So how about we try and solve all of these in one go? CLICK
- Let’s look at a simple example. Let’s say my organization has 4 systems and I want to find some information. CLICK
- If it takes me 1 minute on average to find information from within a system – CLICK
- Then my best case scenario is that I find the information I’m looking for in the first system I look in – in 1 minute. All is good. But what if I can’t find it in that first system. CLICK
- Well let’s assume it takes me a further 1 minute to switch between systems – to load it login and so on CLICK
- If that’s the case then if I find the information in system 2 then it will have taken me 3 minutes. 1 minute to look in system 1, then a minute to switch then a further 1 minute to find the info in system 2. You see where I’m going with this right? CLICK
- Well if we extrapolate this out – our worst case scenario with 4 systems is that it takes us 7 minutes to find one piece of information. That’s a lot longer than the 1 minute we started with. CLICK
- And what it actually means is that on average in this setup it will take 4 minutes to find information. And let’s face it 1 minute to find information is pretty quick – and most of us have more than 4 systems – so I’m being conservative on the numbers I realise that. CLCIK
- The real insight comes though when you scale this out – the 4 minute per search * the number of staff * the number of searches per year * the annual salary of the staff. That calculation gives you the amount of money it costs you JUST to find information within your business. CLICK
- Now my numbers are artificial – but to explore what those figures might look like for your business you can head over to an online calculator that we’ve created for you to use at Nuxeo.com/Modernize. I’m sure you’ll be staggered by the results. So I’ve done a great job at scaring you with the numbers – but what can we do about it? CLICK
- Well at Nuxeo we have a very simple approach to this - we use a methodology called connect and consolidate. We’ll talk about connect now – and consolidate more so in the TCO-focused webinar that I mentioned earlier. CLICK
- So Connect - well it does exactly what it says on the tin and connects the various systems within your business – and one of the benefits of that is a reduced search time – simply because information is in ONE place – not spread across multiple repositories. CLCIK
- So back to our simple example – instead of having to search across 4 systems - click
- You search from one. In my example if you do that you reduce your average search time to 1 minute – that a 75 reduction in time and money. Even just connecting two systems together gives you a Worst case search time average of 3m which is a 25% reduction in time and cost. So what are you getting as a result of doing this? CLICK (1m + 1m + 1m + 1m + 1m) Average 3 min 25% reduction
- Well aside from the user satisfaction of finally being able to find information quickly – you are getting exactly what you set out to get – a rapid return on investment. CLICK
- In fact in our example a 75% reduction in cost – simply by connecting systems together and providing a simple, effective search. That’s quite staggering and I’m sure you’ll see similar numbers when you head to the online calculator. CLICK
- But there are more benefits – Yes you connect multiple repositories, But this also allows you to connect and get value out of those locked legacy systems, delivers that important ROI But also provides the platform for you to build new solutions and applications on top of – all of which can access that centralized information. CLICK
- So that has been a very quick drive through a simple way in which you can achieve rapid ROI. But to summarise the overall message The successful modernization of information can deliver both rapid roi and reduced tco. We’ve focused today on connecting systems to deliver rapid roi - a return on investment that grows with each system you connect, and consolidation takes that concept further by delivering reduced total cost of ownership as well. – BUT THAT is a story for another day and another webinar to be specific. CLICK
- Thank you very much for your attention thus far I’m now going to hand back to Theresa for the Q&A session Theresa – all yours.
- We offer live, instructor-led training // as well as online, self-paced classes. You can thoroughly immerse yourself with a "deep-dive" course, or dip into a topic with our "quick study" offerings. We can even arrange for a trainer to come to your place of business and provide a custom perspective to our instructor-led programs. Info on all of that can be found at aiim.org/training