How much time employees spend on finding the necessary documents?
How would you characterise yourself – what Digital Mind is?
Digital Mind is a Baltic business and information technology (IT) consulting company established in Latvia in 2005, which helps organisations to operate as digitally and efficiently as possible using content management and process automation technologies. Accordingly, our clients are organisations that focus on providing excellent customer service, efficient processes and secure and sound information management. Throughout our existence, we have grown from a company of a few people to an international company with offices in all three Baltic States. Our customers are the region's largest financial institutions, telecommunications service providers, manufacturers, government agencies and joint stock companies, for example, Amber Beverage Group in Latvia, Telia in Lithuania, Eesti Gaas in Estonia, Ergo in all three Baltic States, Conexus Baltic Grid, Luminor Bank, and many others. In turn, our partners are many of the world's leading technology manufacturers, such as OpenText, Optimal Systems, Microsoft and a number of other companies.
What is electronic information management and what are other fields of your activity?
The implementation of electronic information management is one of the major focuses of our activity and is manifested in the fact that we provide our customers with digitisation tools and instruments, as well as help define and implement the way employees work with electronic information according to common principles and as efficiently as possible. In other words, we help put in place the systems to structure, standardise and manage electronic information; to make it as easy or automated as possible to digitise and archive, so that managers and employees can find it quickly thus always working with the latest versions of documents.
Management also includes security solutions - where and how these documents are stored, how it is ensured that they are not used by undesirable persons, so that even if the files fall into unwanted hands or are stolen, both physically, with hardware, or through cyber-attacks, they should be encrypted and not usable outside the system. Information management solutions also address the issue of large volumes of digital documents that no longer require legal or business storage because they have reached the end of their life cycle. In the single system, you will always have access to information on such documents, as well as the possibility to dispose of them in a secure way. The implementation of the system will also guarantee compliance with all legal requirements related to information management, including the General Data Protection Regulation (GDPR).
The second basic line of our activity is process automation. If information management is the first step after which companies start working smartly, intelligently and electronically, then process automation is the second step when the operation becomes as efficient as possible. We offer several techniques, such as traditional, workflow automation and transactional process automation with multiple integrations, as well as robotics process automation. The latter is a relatively new field and concerns the automation of enterprise IT systems.
Another offer is the recently spread Low-Code No-Code automation technology. A kind of construction set, which provides an opportunity to create programs necessary for business automation, even without programming skills, from previously prepared blocks, system elements. Of course, more complex solutions will still need the help of professionals, but the use of this construction set is already a big step in the right direction.
How do customers understand the benefits of the first step - implementing information management?
The benefits can be determined using a variety of benchmarks. For example, how much time the employees spend searching for documents. According to a large study conducted at the end of 2019, it took an average of 18 minutes to search for one document in companies in our region where there is no good information management. Representatives of 83% of companies also admitted that they had to update a document at least once because they simply could not find it. This means that it often takes more staff time to find information than to use it.
We also offer our customers an analysis of the current situation before starting cooperation, based on which we have concluded that in the Baltic States, on average, a statistical office employee spends up to 40% of his/her working time processing, finding, transferring information to colleagues and similar activities. This takes place within specific business processes, and if the time required for them is significantly reduced, it allows you to improve work efficiency, conclude more contracts, serve more customers, etc. Based on the time reduction, estimates of hypothetical benefits and savings are also made.
Edgars Stafeckis, Digital Mind partner and SigningServices co-founder in an interview to diena.lv, before Enterprise Information Governance conference, March 2021.
Related articles about enterprise information management and intelligent business solutions, Enterprise Information Governance conference, 2021: