With the use of technology and artificial intelligence (AI) services continuing to change the way we carry out work and live our everyday lives, businesses are still not prepared to utilise this technology in a way that benefits them.
According to recent research carried out by Crown Records Management, almost half (49%) of UK businesses are still operating a physical paper filing system, despite half (48%) of businesses recognising that it is difficult to find what they need quickly and 46% struggling to find the physical space to store the files.
Written by Kubair Shirazee
Kubair Shirazee, Enterprise Agility Coach and Founder of AgiliTea, discusses the biggest problems businesses face with data storage and how to fix them.
This could have an impact on the future of these businesses with more than 60% of Brits (61%) saying they are concerned about how companies store their personal information, with over 4 million choosing not to work with companies that only works with paper files and physical documentation, due to security concerns.
Tim Rushent, director of digital at Crown Records Management, commented: “This recent research outlines the issues that businesses are having when looking to store their data and highlights a nervousness of those businesses to store this data online, or on the cloud. Over the past few years, we have seen an explosion in how data is created; stored and used, which can be a scary prospect to many business owners.”
Despite concerns around paper documentation, over a third (34%) of Brits admitted they don’t have any understanding of what happens when data is saved to the cloud, even though 6 in 10 businesses are currently storing customer data in this way. While the cloud was previously considered a suitable means of storage, this may become an issue as a result of rapid technological development, with concerns that the traditional cloud infrastructure was not designed to support large-scale artificial intelligence.
With 60% of businesses expressing that they had experienced issues with data storage and records management previously, Crown Records Management is committed to supporting these businesses to find a new solution. When comparing different industries, the research revealed that the finance sector is having the most issues with data storage with almost 9 in 10 businesses expressing their challenges, followed by 77% of IT & Telecoms businesses and 76% of manufacturing and utilities companies.
When asked about using an online records management tool, a third (31%) of UK business owners shared that they had never used one, with 37% claiming it was too expensive, 16% saying they worried about security and more than 12% shared concerns around using the systems. Interestingly, almost 4 in 10 (37%) claim that there is no particular reason why they do not use online records management at present, which highlights the need for businesses to find out more about how this could transform business operations.
Talking from personal experience around embarking on a business digital transformation, Kubair Shirazee, digital transformation specialist and founder of healthcare-focused company Ikonami Ltd and Agilitea said: “Digitising a backlog of physical records was a significant undertaking. It felt like trying to drain a lake with a bucket – slow and seemingly endless. However, digital transformation has supercharged our efficiency, digital records is an aspect of that transformative journey. Files that took hours to locate can now be found in seconds. It’s like swapping a horse drawn cart for a spaceship!
“Resistance to change from manual process is always a major hurdle, but it is prudent to keep an open mind on tools and platforms as they develop, rather than get locked into any walled garden with your records and data.”
Tim Rushent continued: “At Crown Records Management, our mission is to make sure that our clients stay ahead of the increasingly complex regulatory landscape around data retention, use and destruction; with expert consultancy and information solutions.
“We are here to support our clients along the process, whether they are at the start of their digital transformation journey, or are looking to update their current system.”
Through its unique perspective, service range and network facilities, Crown Records Management works with organisations to maximise value for their corporate memory. This is achieved through digital and hard copy storage, active management, and smart and timely distribution of information assets across the enterprise.
For more information on Crown Records Management please visit the website.