International Data Corp. has release a white paper highlighting that improving document and information processes can significantly help organizations seize new business opportunities such as: faster time to market with new offerings, rapidly addressing customer needs, reacting more quickly to changing market dynamics and winning competitive business.
According to the study, document processes are important to an organization's revenue but can have a bigger impact on time to market. Ninety-one (91) percent of respondents said that optimizing customer-facing processes would help speed time to market — on average by 13 percent. Improved processes enable teams closest to customers — such as sales and marketing — to quickly and accurately convey opportunities they have identified to design and development teams responsible for new product or service creation. The ability to supply information to the right people, at the right time and in the right format can easily make the difference between being a leader or a laggard — and success or failure of a new business initiative.
The research also found improving processes can help sales and product-development organizations create new market opportunities. Study respondents said fixing document processes would help their organization more rapidly address customer needs (78 percent); respond more quickly to market changes (65 percent); and improve their competitive stance (63 percent). Improved processes can also help cement customers' loyalty to an organization and decrease the chances that they will defect to a competitor, according to the study. Companies with outstanding document processes can capitalize on the vulnerabilities of their competitors' inferior customer service.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For more than 48 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company.