Emerging economies, increasing amounts of data and new ways of information consumption: these changes that have happened across businesses in Europe in just three years have triggered a major shake-up of business priorities, according to a new study from Ricoh Europe.
Too much incoming data has been the major global trend impacting businesses operations in the past years, with 91 per cent of respondents saying it had the most impact on their ability to manage critical processes within their business. The information overflow is allegedly taking focus and resource away from revenue generating activities.
Businesses also identified managing multiple vendors and emerging high-growth economies as having a major impact on their organisations, which has in turn created further amounts of data that they are required to manage.
The Ricoh Document Governance Index 2012, conducted by Coleman Parkes, has been compiled from 1,075 interviews amongst C-level executives, directors and other employees in Europe.
Crucially, the trends it identified have had a radical impact on business priorities. The research found that in just three years, European businesses have replaced a focus on cost, efficiency and the environment, with a focus on business risk.
The importance of transparency with overall business goals was also highlighted, with 64 per cent of respondents saying they set targets for processes to be aligned with overall business goals, compared to just 15 per cent in 2009 confirming the same.
These findings are in stark contrast with the results of the Ricoh Document Governance Index 2009. The focus for European businesses three years ago was basic cost and efficiency, with 67 per cent of businesses setting targets for cost and 59 per cent for efficiency, compared to 43 per cent and 51 per cent today.