How Is Revenue Technology (RevTech) the Glue Between Marketing and Customer Success?
We’ve all seen bad marriages. Different goals, different approaches to life, different opinions on what constitutes a decent hamburger. (Is it too...
3 min read
Joe Moriarty : August 25, 2017
Information is the lifeblood of an enterprise. Providing timely access to information is the key to the success of a business in today’s knowledge economy. The time companies waste looking for the right, up-to-date content is astounding. This result leads to enormous costs for the enterprise.
According to a survey by IDC - 76% of company executives considered information to be “mission critical” and their company’s most important asset. Yet, 60% felt that time constraints and lack of understanding of how to find information were preventing their employees from finding the information they needed.
Source: The High Cost of Not Finding Information, IDC
To understand the enormity of the problem, which is growing with digitization, it is essential to understand the exact waste enterprises incur annually. Based on the report, the major enterprises stand to waste $2.5 billion annually due to an inability to locate, retrieve and consume information.
Several factors will cause this problem to grow as technological advancements happen:
All the above significantly impacts the enterprises to provide the most up-to-date information to their users when needed.
Timely access to critical information separates the winners from losers in today’s information economy. While a traditional Digital Asset Manager (DAM) is a great start, more advanced service providers can better help enterprises control their content and create rich learning opportunities for various user types.
Digital rights management (DRM) is a huge component of content control. Being able to keep your licensing straight is just the start, though. As companies scramble to provide the most up-to-date information to a wide array of user types, it is essential to consolidate all content in a single unified platform. A platform that combines version history and compatibility with multiple content types is critical.
Enterprises’ focus should shift from storing information to providing access to information to the right person when they need it. Pushing content to the right places from one admin portal is vital, regardless if the content is on a website, learning academy, brochure, or advertisement. It is just as essential to ensure the content is secured, access is blocked for users that don’t need it or unknown users, and this content cannot be downloaded and shared unless desired.
The right system to control your content and access will include the ability to implement a Style guide with text content control, dictating predefined definitions for plain text and rich text fonts, header sizes, inline text styles, and much more. Many style guides provide templates for specific content types.
Your content needs to be easy to search, with users and admins needing to filter the right content with robust taxonomy/metadata definitions. With the right search technology, users can use drop-down lists and checkboxes to find the right internal content. Though building the initial taxonomy might be daunting for enterprises, it is worth the investment. Being able to include metadata on public-facing web pages is very important as well for web filtering. If your content is public-facing, Google can also act as a search engine for your content.
Stay ahead of the game. Make sure that proprietary content does not land in the wrong hands. Being able to control who can download and when is critical. SSL for a website is great, but your content needs more- you need endpoint protection from ransomware and much more. Look to providers that are SOC 2 Type 2 compliant. Some systems can even dictate content control based on IP address.
The user interface is critical for those who manage content for companies user interface is very important. Having a platform that makes content versioning and dissemination easy is critical to properly managing and securing this content. Understanding how your content is used is essential to making crucial business decisions. Integrating with Google Analytics is helpful, but having an internal data visualization engine that details content usage is significant.
Digital transformation is happening right now. If enterprises don’t embrace it, they will be left behind. While the costs of not finding information are enormous, they are hidden within the enterprise and rarely perceived as having an impact on the bottom line. But the decisions are usually information problems. If they are made with poor or erroneous information, then they put the life of any enterprise at stake.
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