Vision
Overview
Society today is different. It is information-driven, digital, and constantly evolving. We live and work at times when computers make more information available to more people. We need to take advantage of it. How?
Peter Drucker said ‘The most important contribution management needs to make in the 21st century is to increase the productivity of KNOWLEDGE WORK and the KNOWLEDGE WORKER.’
Business and industry are involved in an increasingly rapid change to new equipment and that the distinctions between office, communications, and computer equipment are disappearing. More in-depth knowledge of office systems based on integrated new technology is needed.
As B2B Web services become a reality, companies should not limit the role of their portals to providing human-facing interfaces for business-to-business integration.
Information technology brakes barriers of communication in today's organizational environment. People, teams, departments, and managers are better connected with help of informational technology. It is changing organizations in a way that people start communicating better in different departments, levels, physical locations as well as share information. Organizations will need fewer middle managers, whose jobs are to facilitate these information flows, computers can do better jobs. This creates new opportunities for competitive advantage though faster decision making, better use of timely information and better coordination of decisions and activities. IT plays an important role in customer relations management by quickly and accurately providing information for decision makers regarding customer needs, preferences and satisfaction.
Business Facts
We live in an extremely paper intensive society where 90% of all business transactions start with physical piece of paper and is growing at the rate of 22% a year.
Processing paper document is an expensive proposition and costs both private and government sectors $500 Billion a year where administrative costs is 20 percent of each dollar spent.
The cost of processing a single paper document transaction is between $60-120 vs. just $5-7 for an electronic transaction. Sources provided by Garner Group
- State and Federal Governments spend $100 billion a year on processing paper forms
- US Private businesses spend $360 Billion a year to process paper forms
- About $12 billion is spent on just data entry
- More than 90 billion paper transactions occur each year in healthcare industry alone
- Currently 90% of corporate memory exists on paper only
- 19 copies are made from each paper document
- 22% of all documents are lost
- 7.5% of paper documents are lost completely, 3% of the remainder get misfiled
- $20.00 is spent on labor to file a document
- $75.00 is spent in labor to process a document
- $120.00 is spent on labor searching for the misfiled paper documents
- $250.00 is spent on labor to search for lost files