| |AUGUST 20219With enterprise information management systems, there is scope to reinvent the way information is consumed, presented or analyzedIn the current remote work scenario, people are produc-ing huge amounts of information, which can be structured and unstructured. While structured data can be analyzed us-ing traditional tools, the real intelligence is buried deep in unstructured data which can be in e-mails, chats, invoices or voice messages. Most companies do not have effective solu-tions to analyze unstructured information. This is a big bar-rier to productivity, as it means that this knowledge cannot be analyzed and used for competitive advantage. Additionally, as data sources are widely dispersed, there is an inability to use information effectively. A cloud-based content management solution can be extremely effective, as customized solutions can be quickly implemented and content from different data sources can be aggregated and analyzed for business intelli-gence and optimized decision-making. The Role Of AutomationWherever possible, automated solutions must be used to re-duce or eliminate human errors. By using AI-based solutions, organizations can analyze and classify large amounts of data quickly. NLP (Natural Language Processing) today is used for extracting the real context of an e-mail, social media post or a chat. Similarly, speech to text conversion technologies can be used to convert audio into text, which makes it possible to convert unstructured data into structured data and analyze it in a more efficient way. AI can classify documents automati-cally, and make it available for knowledge workers, enabling them to make faster decisions. Enterprise Information Man-agement solutions help enterprises engage better with all stakeholders, by enabling data-driven workflows. This helps enterprises advance innovation and business performance as they have better insights into data. With so much information at their disposal, many enter-prises have to spend more time, resources, and skilled staff wrangling with the data. Overwhelmed, most business pro-cesses today are static -- and they rely on ineffective or ir-relevant information and/or on data that quickly becomes ob-solete. To become truly data-centric, organizations must take a new approach to information integration and management. This includes taking an open approach to collaboration, with information exchanged seamlessly, instead of being in silos. With remote work here to stay, albeit as part of a new hybrid work model, enterprises have to ensure that their information management strategy is aligned completely to a digital work-place, where employees work from anywhere. It is also equal-ly important to use automation principles wherever possible, so that enterprises can improve efficiencies, but at a relatively lower cost ­ a must need in these trying times.The Power Of Information Management In ActionTo understand how an enterprise information management solution can really deliver significant benefits and power digi-tal transformation initiatives, let us take a look at what Tata Power-Delhi Distribution Ltd. (Tata Power-DDL) achieved. The company is a joint venture between Tata Power and Del-hi's state government. When the pandemic struck, approximately 70% of its employees shifted to remote work. The company needed to ensure employees, customers, regulators and external stakeholders retained access to mission-critical content and business processes. With an enterprise information manage-ment solution, the company was able to keep critical users connected and working to provide power to different stake-holders, which included hospitals and essential utilities like water supply and pharmacies and laboratories. Using the enterprise information management solution, the company created workflows, which was provided to internal and ex-ternal stakeholders. Leveraging the enterprise information management solution's ability to integrate with key business applications, the company was also able to help customers by implementing digital self-service payment options so they could easily view and pay their bills on time via the web, SMS and apps. The result was a dramatic and lasting increase in electronic payments via mobile channels. Digital payments increased from 61% to nearly 96% during the pandemic and remained at 89% since. This is just one example of the impor-tance of information management to the digital transforma-tion efforts of enterprises. Today, enterprises are deluged with information. While this brings challenges, it also brings in huge opportunities. With enterprise information management systems, there is scope to reinvent the way information is consumed, present-ed or analyzed. If this is done using the right technology, then enterprises can deliver highly personalized experiences and empower employees to take quick and effective decisions. The time has come when businesses need to reimagine informa-tion management.
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