BIP Features »

March 16, 2020 – 6:00 am |


One of the UK’s leading providers of strategic manufacturing outsourcing services has invested over £100,000 into creating a new Electrostatic Discharge manufacturing facility.
Go to the main page

Read the full story »
BIP business guides & tools

Please register/login to access content

BIP Access to Finance

Access to Finance,Grants & Business Support

BIP Features

West Midlands business highlights, opportunites and networking

Bips and Pieces

All the best from the web handpicked out by our team, including the World of tech

Business News

Latest West Midlands news affecting your business

Home » Business News

1 in 3 Senior Executives expresses concern about poor Information Management…

Submitted by on November 5, 2013 – 8:25 am |


Sam Ferguson, CEO at EDM Group - 1 in 3 Senior Executives expresses concern about poor Information Management...ONE IN THREE SENIOR EXECUTIVES EXPRESS CONCERN ABOUT POOR INFORMATION MANAGEMENT AND ANTICIPATE A RISE IN FINES LINKED TO THIS

30% of senior executives are concerned about how companies in their sector manage and store their information.

56.5% of senior executives expect the size and value of fines facing companies for poor management of their information to increase over the next five years.

80.6% of senior executives expect companies to improve how they manage their information, and 78.5% expect them to increase their expenditure in this area

Analyst survey highlights importance of information management to success of companies

New research1 from EDM Group, one of the largest providers of outsourced information management services, reveals that nearly one in three (30%) of senior executives  are ‘concerned’ or ‘very concerned’ about the ability of companies in their sector to manage and store the information they receive.

Given this, 12% expect the number and size of fines for poor management of information levied on companies in their sector over the next five years to increase dramatically over the next five years, with 44.5% anticipating a slight rise here. Only 2.8% expect to see a fall.

However, the good news is that the survey suggests that senior executives understand that this is a major challenge and over the next three years 20.4% anticipate that companies in their sector will improve dramatically in this area, while 60.2% anticipate a slight improvement.  The corresponding figures for five years are 22.5% and 60.4% respectively.

Sam Ferguson, CEO at EDM Group said: “It is alarming to see how many senior executives think that companies in their sectors are poor at managing their information.  Distribution, customer service and regulatory environments are becoming more demanding, and companies need to ensure maximum efficiency in how they manage their information in order to address today’s challenges.

The good news is that our research suggests that many have acknowledged this and are proactively addressing it.”

The research reveals that 17.4% of senior executives believe that the correlation between information storage and management and key performance indicators for companies in their sector will increase dramatically over the next five years, with 45% anticipating a slight increase here.  Only 1% believe there will be a fall in correlation between the two.

Given this, it is perhaps not surprising that 22.5% of senior executives interviewed expect their sectors to dramatically increase their expenditure on their information management systems, with 56% anticipating a slight rise.

Analyst survey

A similar EDM Group survey of analysts on the same issue of information management supports the views above.  26% are concerned about how the companies they follow perform in this area,  but 66% and 78% expect improvements here in the next three and five years respectively.
73.1% analysts interviewed anticipate that the size and value of fines for poor management of information will rise over the next five years.  This, along with the fact that 42.3% anticipate a growing correlation between information storage and management  and key performance indicators, helps explain why 92.3% analysts expect companies to increase their spend on their information management system.

EDM Group provides companies with effective and efficient ways to manage the rapidly growing volumes of information flowing into and through their businesses every day. Clients include Grant Thornton, Nationwide Building Society, Legal & General, Avis and Bupa.


Go to the main page

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

We use Cookies - By using this site or closing this you agree to our Cookies policy.
Accept Cookies
x