Selecting the right project information management software and mailbox platform for your business means you can efficiently and effectively handle the volume of information coming in and moving through your company to ensure your team is on the same page. Here’s five reasons why inadequate IT architecture can result in losses - from files to business and revenue - and why you need to get smart about your information management.
1. You can drown in an overflowing inbox
The first email was sent more than 45 years ago and it feels like some businesses have been struggling to get to grips with their mailboxes ever since.
It’s not uncommon for employees in growing businesses to see hundreds of emails hit their inboxes every day, from multiple people, on multiple projects.
Left unmanaged, that volume of email alone will slow employees down at best, and at worst, it could seriously hamper a business’s chances of delivering projects successfully.
Some sources suggest project-based employees can spend up to three hours of their working day on email-related activities, which begs the question: Can any business afford to pay up to a third of project staff costs for managing email?
This is one of the big challenges of project information management, but the right IT system and support will see any business benefit.
2. Lost files mean lost time
If you’re storing project information physically and / or on the cloud, using multiple network locations, sharing it and trying to keep on top of version control, all at the same time, there’s a good chance important information is going to fall between the cracks.
More than half of businesses rely on network folders to manage projects, but inconsistent file structures, accidental deletion, drag-and-drop displacement and a lacklustre approach to information management generally, can seriously jeopardise project success.
Knowing where to place and find information that other people are responsible for is key to the smooth running of any project. So, instead of waiting until a project is complete to organise the documentation, it makes sense to be proactive and create a system that:
- Facilitates collaboration
- Encourages knowledge sharing and
- Ensures everyone is on the same page when it comes to document governance
When a project sponsor or client calls with question, having information at hand or knowing where to find it quickly, is key to instilling confidence in your project management skills and protecting the business’s reputation.
Businesses that rely on their project management services understand the importance of projecting professionalism, setting high standards and building a reputation for being on top of their game when it comes to PIM.
4. Sharing files should be easy
The ability to store large files and share them with other people, whether they’re at the other end of the office or working remotely at the opposite side of the world, shouldn’t be an issue. And, despite the fact 75% of businesses believe sharing documents is one of the most important ways to improve project collaboration, it’s estimated that fewer than 10% have the system capability.
With an information management system that provides unlimited reach and capacity to share, tasks can be assigned, tracked and reported on with much greater speed and accuracy.
5. There’s a fine line between asset and liability
If things such as intellectual property rights, data protection or online security are fundamental to your business, then keeping project information secure should be a top priority.
Remember, some industries have strict guidelines on what’s required when it comes to using, storing and sharing information. There might even be restrictions around how long you can keep certain information, making a fool-proof management system even more important.
Global brands, healthcare providers and government agencies are just some of the heavy hitters that have been damaged because information has been lost, leaked, hacked or simply stored inappropriately.
The consequences of being prosecuted or fined for mismanagement of information could spell disaster for a budding business, so savvy companies flip the situation and make their email inboxes and information management systems work for them, not against them.
With useful categorisation, tagging and prioritisation techniques that allow users to prioritise and make decisions quickly, project management teams can be on the front foot and turn liabilities into business-building assets. An IT consultant can help show you what information management systems and platforms can work best for you.
Discover how we can help you find and implement the right project information management software for your business by downloading our eBook below:
