Data is the lifeblood of business today, and it’s not easy digging through it to uncover insightful, actionable intelligence.
That’s one takeaway from a survey of 600 IT decision-makers in large US, Canadian and Western European organizations.
Xerox’s Digitization at Work report shows the move from paper to digital processes is nearly upon us, however, many survey respondents admit they may not be ready for it.
The report found broad concern over paper-based processes, with cost (42 percent) and security (42 percent) cited as primary issues. 40 percent of Canadian respondents said cost reduction was the prime reason for digitization followed by improved data collection at 33 percent.
Survey respondents predicted an average of only nine percent of key business operation processes will run on paper in the next two years.
But more than half (55 percent) of the respondents admit their organizations’ processes are still largely or entirely paper-based, and about one third (29 percent) are still communicating with end customers via paper, rather than email or social channels.
This is despite the fact that 41 percent agree moving to digital workflows will cut organizational costs, and 87 percent appear to have the skill sets available to make this happen.
The survey showed that Canadian companies are generally ahead of their global counterparts in digitizing processes in the areas of invoicing, contracts, customer engagement, HR on-boarding, new product development, and vertical and operational processes. 44 percent of Canadian respondents said they will have all seven digitized in two years – the highest across all countries surveyed.
“Organizations foresee a lean and agile digital future, but current business processes are still weighed down by paper,” said Andy Jones, vice president, Workflow Automation, Large Enterprise Operations, Xerox. “The disconnect between an organization’s vision and the steps required to achieve successful digital transformation has stalled the promise of digitization.”