The Cost of Bad Information

Corporate managers overwhelmingly agree that access to good quality information is critical to their operations. Yet, many companies do not invest enough time and money to create the necessary information management tools, systems and strategy.

Not a Priority Although many companies know they need good documentation to meet compliance requirements, establish some basic policies and procedures, ramp up new hires, or help people learn new systems – it may not be worth the time and effort that it takes to develop and maintain. It’s not a priority. Company executives and managers may have other important issues to worry about – like sales performance, customer satisfaction, operating costs, audits, or compliance.

Focus on Technology Or, they purchase technology to “solve” the documentation problems. But technology can be poorly designed or implemented. And technology alone is not a solution.

No Information Management Strategy Poorly designed information management systems, outdated formats and documentation with “wall-to-wall words” do not address the accessibility, quality, or effectiveness of the information.

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