FLEXO INSIGHT: It is not just about being profitable, it’s about how much more profitable

Information needed to run organisations comes from many different data sources and how it is provided is often determined by the size of the organisation, ranging from complex spreadsheets to fully integrated business systems or a mix of both. At the core is the need to provide a single source of data that is validated by the end users and agreed by line managers.

There is a strong correlation between information accuracy and process improvement, where people’s working practices have to adapt to the latest adjustments quickly. Timely communication and implementation of these adjustments is the key to success. Profitability comes from understanding, delivering and improving the value adding activities across the entire organisation while eliminating non-added value.

Increased turnover of staff and reliance on a small number of individuals increases the vulnerability of organisations to a loss of expertise. Sometimes this is unavoidable but it places emphasis on the relationship between technology suppliers, information management teams and the end users to capture and deliver the right level of information in an engaging way. Profitability comes from gaining competitive advantage and this is often down to the ability to problem solve and share best practices amongst groups based on experience and common objectives.

The question is how much more profitable could we be if we are confident in our decision making information and focused on combining the best of our people, the technology employed and improvements in our processes. Too little thought about processes and there will be confusion; too little thought about technology and there will be inefficiency; too few people and there will be under utilisation of assets. Now is the time for information management teams to step into the spotlight.