EDM Review Brings Reduced Operating Costs & Understanding Of Best Practice
Tuesday 27th June, 2017
Coeus was engaged to assist in a review of a construction company's current EDM (Electronic Data Management) services.
The client's EDM services had grown organically over the decades because of joint ventures, technology adoption and acquisitions, resulting in over 55 identified EDM products in active use.
There was no corporate strategy on how documents were managed or EDM tooling selected, and only 11TB of internally stored documentation were tracked. Furthermore, no records existed on data held outside those services.
The above factors generated a complicated data landscape, reducing the client’s ability to leverage any benefit from decades of information.
A rapid high-level review of the current EDM landscape was conducted, reviewing existing client documentation and interviewing key stakeholders to understand the current EDM tools in use. Operational, regulatory or corporate policy obligations driving constraints around EDM were taken into account.
Coeus assessed the tools already in use against current best industry practice for the sector and proposed a high-level model and set of recommendations to resolve the identified challenges.
The goal was to conduct the review and generate the agreed deliverables in 2 weeks to support a client budget review cycle.
The deliverables formed a strategy to address and resolve the proliferation of EDM tools. This included a detailed review statement which showed the client's current landscape, how this mapped into relevant industry standards and suggested a path to the new strategy. An Executive Summary was also delivered to support the development of a corporate EDM strategy showing a way to a more managed landscape.
Coeus significantly reduced the operational costs and dependency on skills for obsolete technologies by enabling the client to adopt “Big Data” practices to maximise the value of their historical data.
Having demonstrated the relationship between increased costs and the proliferation of tools and data duplication, we reduced the number of EDM products from 55 to an industry normal of 3-5.
We also left the client with a clear understanding of Industry Best Practice for EDM and provided a more robust monitoring and security operational model around document management.