EDM Workspace believes that this problem could become even worse because the amount of data employees receive is increasing dramatically. Its research reveals that 57% of employees estimate that they are now receiving more information at work than they were three years ago, with only 24% claiming it has fallen.
It is perhaps not surprising that 20% of employees believe that the organisations they work for are open to breaking compliance and governance rules because of weaknesses in how they manage their data and information. The research revealed that while 62% of employees believe their employers have an information management policy, a shocking one in four (26%) don’t know whether they have a policy or not.
Guy Spragg, Managing Director at EDM Workspace said: “Our findings are worrying. Organisations have to cope with a huge increase in the amount of information they receive, and at the same time manage stricter regulations around how they manage this and treat customers. It is little wonder that research we conducted with senior management across a number of organisations revealed that more than half (56.5%) expect the number and size of fines for poor management of information levied on companies in their sector to increase over the next five years. Less than 3% expect them to fall.
“The solution is to have more information digitalised and managed in such a way that it is easy to find and utilise.”
EDM Workspace’s research also reveals that one in three (30%) of employees believe that the level of customer service offered by their employers is adversely affected by how they manage their information.
EDM Workspace provides companies with effective and efficient ways to manage the rapidly growing volumes of information flowing into and through their businesses every day. Clients include Royal Bank of Scotland, Investec and WPP Group.