Next-generation document generation platform Templafy has published new research it says shows businesses today suffer from a lack of content infrastructure, constantly putting their business success and reputation at risk.
Template‘s’Content is everything ‘global research report was conducted in Australia, the US, the UK and Germany and surveyed 2,296 full-time employees at enterprise-level companies.
Templafy says that report aims to determine the structural and financial consequences companies face when they lack integrated and automated technology solutions that support and connect content in employee workflows, and the Australian findings “specifically uncover a cause for concern”.
“Content management has proven to be quite a feat: despite recognizing the integral role of content in business success, companies are not prioritizing content infrastructure. More than half (57%) of respondents said their company has issues with content standardization, adding that when creating new materials they are not sure they are using the latest company-approved resources. This lack of consistency and integrity across all commercial content is called “content anarchy” and is a UA$35 million problem.” Tamplafy observes.
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“Poor document management and a lack of content infrastructure cause companies to lose thousands of employee hours each year. Templafy’s report found that the average Australian employee spends 16 hours a week creating content, more than the global average of 15, and 67% say their company’s process for reviewing and approving content delays other work. To put that in context, in a company of 1,000 people, that’s 16,000 hours lost per week and over 800,000 hours lost per year. This time loss leads to revenue loss, as 97% of respondents reported that they believe their business could increase revenue if content bottlenecks were removed.
“To optimize content across the enterprise and remove bottlenecks, organizations need to ensure contextualized content is actively delivered to employees in the places where they already work so it can actively support business processes. That way, business documents consist of the right pieces of content, like the latest logo or legal notice. Without technology solutions to do this, organizations risk jeopardizing brand reputations and breaching security requirements.”
Noting that security is at stake, Templafy says that content anarchy and lack of document control pose significant security risks to businesses today, with 91% of research respondents working for businesses that handle sensitive customer information indicated that having inconsistent and incorrect information, or unreliable content shared externally can be detrimental to their business and cause security risks.
And although 84% of those surveyed acknowledged that security requirements are increasing and believe that meeting strict requirements is more important than ever, Templafy says that “the terrifying truth is that almost half of those surveyed also confessed that their company shared mistake a confidential document with an unauthorized party. .
“Why is this? 43% say their business lacks secure system-wide alignment when it comes to content, and 41% said their business urgently needs a better system to support mandatory content classification.” Confidentiality of documents.” Notes Tamplafy
Commenting on the role of content in the digital headquarters, Templafy says that content is, and always has been, a critical business asset, but in an increasingly digital workplace environment, now known as the “digital headquarters”, content is a direct business. bridge with your stakeholders, particularly customers and employees, and in fact, 78% of respondents agreed that content is the most important driver of business success, while nearly all (94%) said content is the most important driver of business success. content is essential to the financial well-being of your organization.
“As the role of content evolves, so does the definition of content itself. While the majority of respondents agreed that they consider marketing materials and legal and financial documents to be content, many also agreed that productivity assets (51%) and classification and metadata (40 %) are now also considered commercial content. That means companies need to think about and manage content more holistically across their organization: everything from emails to presentations and the content components that make them up like metadata need to be governed in some way, otherwise they can face ramifications. in the whole business, “warns. tamplafy
“Content is mission critical to the success of any business, regardless of industry, size or location,” he said. Christian Lundco-founder, in Template.
“Historically, static content solutions like enterprise content management (ECM) tools were enough for a business to get by, but in today’s digital headquarters, users simply can’t navigate through the amount every time. largest content and business data. More content is being created across a plethora of apps than ever before, and that content must create value rather than introduce risk. businesses need a solution to these pain points and we are confident that content enablement technology is the key. ”
Tamplafy lists additional key findings from the report, including:
Metadata is introducing meta risk– 58% of respondents agreed that lack of control when it comes to metadata and classification poses significant financial risk, while half of respondents said the same for business and brand risk. Additional ramifications include reputational damage (60%), legal ramifications (58%), loss of customer confidence (47%), legal fees (44%), and lost revenue (43%).
Inaccurate content is rampant throughout the sales organization, hurting revenue– 78% of respondents said inaccurate or outdated information in content can hurt sales, however 56% said their team often includes outdated information in sales pitches and content. More than a quarter of respondents said they believe sales pitches and content reach prospects with out-of-date information more than half the time.
Poor document governance hinders efficient and accurate brand escalation: 61% of respondents indicated that their company has issues with backwards compatibility, that is, making sure that the materials and templates in use are regularly updated with the latest information. This means that when companies update their brand, it is extremely difficult to ensure that those updates are reflected in all existing warranties.
Automation is the answer: Over the next 12 months, more than half of respondents said their organization will prioritize automating document creation; 44% said their organization will prioritize software consolidation; and 36% said their organization will prioritize automating content creation.