Planning, control and execution, these are three essential words for the success of a company. No wonder they are the basis of the so-called business information management, so essential today.
This is because whoever has a range of information about the market and the business itself is able to make more assertive decisions. Once the workflows become more productive and efficient.
Corporate information management is not only essential for good times, but is a support point in times of crisis. After all, it is easier to make a decision when you have the right information in hand, coming from the management of business information.
In this content we are going to talk about the importance of managing business information, especially in times of crisis like the current one, due to the coronavirus, and giving tips on how to implement it. Check out!
What is business information management
We can explain business information management as a cycle of activities that encompasses workflows for better decision making. It considers internal and external factors and can cover data on sales, finance and routines in general.
With business information management, the power of optimization and efficiency of the operational flow from end to end is enhanced. Since it simplifies the communication process and eliminates steps that may be unnecessary
Corporate information management aims to:
- Search for information;
- Identify what is relevant and irrelevant;
- Process and adapt to information;
- Data storage when necessary;
- Sharing correct consumer information.
Taking into account each of these steps, which go through different sectors all the time, decisions have a more solid basis and can be taken at the right time. Even so, that business information management is so important in moments of crisis
Because, sectors can expose exactly the reality in which they find themselves, based on the information collected over time. Influencing even the communications that will be made to the consumer based on the moment in question.
Tips for implementing business information management
The implementation of business information management, especially in times of crisis, can help the company not to rush or make mistakes in decisions. To help you make this model real we have separated some tips.
Make good use of technology
Automation is in fact a great ally of business information management. Through it, information, via management software, is at hand more quickly and widely, in the so-called “real time”.
Learn more about management software in our article: “Management software: because it is very important for your company”.
This not only makes access and sharing faster, but also delivers a wider range of information to managers and leaders in difficult times. Given that decision-making often needs to be quick and assertive.
Perform a systems integration
Therefore, choose systems in your organization that talk to each other, because this way you can have more accurate data from different areas, integrated in one place.
This reduces the chance of errors and the flow and routines become simpler, since this scenario is essential to face a crisis, which does not admit errors in the strategy.
Determine rules in the process
Defining who can access, view or change any type of record is essential in a business information management process. This way, the information is more secure and can actually contribute to the functioning of the processes.
This type of rule / definition avoids confusion in the internal communication and each professional knows exactly their responsibilities within the workflow. Having defined roles can be of great value when facing moments of crisis.
Values data integrity
Good business information management goes through a crucial step in this process, data conferencing. Communicating correctly impacts both internal and external communication.
Incorrect information can put days, months and even years of work in the trash. Therefore, it is essential to pay attention to the integrity and veracity of what has been harvested. Controlling this information can help your company use it at the right time and in the right way.
Especially because in times of crisis, what will most assert itself is your image before consumers and employees. Being true is the best option ever with your customers.
Keep data organized
The management of business information depends completely on a good organization of the data. There is no point in having a large number of privileged information if you do not know how to access or use it.
This is because the more information you gather, the greater the need to separate what is beneficial and what is not. For, a structuring of the business information management process requires that everything is in sight.
Information needs to be accessed quickly, enabling a time optimization and not the other way around. Since correctly categorizing and organizing information allows you to use it in an assertive way, especially when you are in crisis.
Improve internal communication
Good external communication depends primarily on the success of the internal communication. Therefore, business information management needs to be effective internally so that it can flow correctly in the market.
It is impossible, then, to put aside an extra dedication for the company's internal communication.
Especially because the functioning of business information management is dependent on the efficiency of this workflow that values standards, objectives and data sharing that is visible to teams.
Keep in mind that your employees are the starting points for effective communication and depend on an efficient internal work / communication process.
Because only then, your company will be able to make correct decisions and pass them on exactly, even in times of crisis, which requires patience, awareness and preparation.
Optimize jobs and routines
But you must be wondering how to perform this optimization.
The answer is not so simple, however, there are small daily changes in the routine that can be decisive for you to stop wasting time and consequently money and prepare yourself in the event of a crisis.
Starting today, for your business information management to be effective, do:
- A reorganization of the task flow;
- A standardization of processes;
- A delimitation of who does what and who is the final word;
- An organization about relevant and irrelevant tasks.
Undoubtedly, in times of crisis, following the steps above can facilitate decision-making, however difficult it may be. Since it will not be a hasty decision and in the kick, but with a basis.
The benefits of business information management
Since we already know how to implement business information management in the company, let's now talk about the main advantages of this scenario.
Reduced costs: managing information well makes the processes more correct and consequently everything that is unnecessary is cut. Preventing investments in production or maintenance from being carried out without prior planning.
Information control: the breadth that business information management allows, mainly thanks to automation, facilitates access to data, shares and reduces the chances of errors in the workflow, after all, the data will always be at hand.
Greater financial efficiency: in times of crisis being efficient in controlling expenses is essential. With business information management, workflow is more efficient and expenses are optimized in a more responsible manner, respecting financial health.
Workflow improvement: A business information management process reduces manual and bureaucratic processes and optimizes time in the execution of tasks. Not to mention that it presents strategic indicators for decision making and faster access to this information.
Customer satisfaction: with more assertive decision-making, business information management directly impacts strategies that motivate customer satisfaction. In times of crisis, customer management is essential for customer loyalty.
The role of business information management
Corporate information management plays an important role in routine of organizations
Another important point, especially in times of crisis, is the need for responsible management, which values financial health. With business information management, all decisions are made based on hard data.
Even in crisis, no decision will be rushed and each sector will have greater control over its own functioning.
Especially because in business information management, data is always ahead of managers who can allow a macro view of what the company needs.
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