Businesses need to make smart business decisions that increase revenue and profits in order to sustain enterprise asset management business growth, and further its longevity. Data management takes the two major resources that an organisation claims as its trading assets, assets that represent the most valuable final resource, that is, its data.
Data management can have many ramifications on how organisations operate and manage its data. For instance, enterprise asset management organisations can easily improve their level of professionalism by protecting, storing, using, and controlling their data.
Once organisations begin to make decisions that make the difference to their bottom line, and consequently, its survival, they inevitably have to depend upon the balanced use of roto-coding and enterprise asset management document imaging systems to aid them in achieving these goals. This method of business operation was pioneered in the mid-70's by banks, who began to rely on roto-coding and document imaging to replace their increasingly tedious manual processes and improve system-wide efficiency and productivity.
Since then, this method of data management and data capture has become a scientific process recognized by many respected organisations and has become a widely accepted practice, achieving numerous useful benefits and advantages for companies of the world, including:
From the late 1970's to the present, enterprise asset management companies have created hundreds of methods and strategies to improve the efficiency of data management. One such strategy developed in the late 1980s by the medical device industry resulting in the introduction of a new data management solution.
This strategy was a Single Source Application (SSOA) and offered hospitals and other qualified providers a means to staff the companies with medical experts 24 hours a day, 365 days a year, at any given time, without having to employ expensive and time-consuming staff who would be paid a pre-established salary or hourly rate, and without having to repeatedly train those staff in ways for the collection and manipulation of medical records. The benefits of this process can be summed up in one word: increased productivity!
The cost of employing Six Sigma SSOA was one of the many benefits of the process. The system was capable of processing and generating millions of statements every day, from multiple healthcare professionals and enterprise asset management providers and could manage hundreds of thousands of records for any given facility. These records were categorised and stored in a database so that they could be accessed, filtered for relevancy, shown to Requisition Analysts, and monitored so that no information was outdated.
The benefits of the system also required that financial and management reporting be streamlined for improved accuracy, streamlined trades/stock management, far more efficient processes, and reduced inefficiencies. Training was more effective, because the new system came equipped with courses on profit and expense analysis, significance principle, Six Sigma process management, and Six Sigma simulation.
Companies began to reap these benefits, and to implement systems in their organisations, more than ever before. Today, the Six Sigma system provides users with the ability to:
Over time, and as technology advanced throughout the 1990's and continues today, the benefits of the Six Sigma system are well documented. Medical practices and many organisations, ranging from Fortune 500 companies to community based organisations, often link Six Sigma with their goals to reach new levels of performance and productivity. Most recently, the widespread adoption of the Six Sigma methodology has also created a new educational tool for professional trainers, offering this.
Finally, enterprise asset management businesses recognize that the increased productivity and capacity have opened the door for a new and exciting technological means of data management. A study released by Total Systems Research Inc. (based on the 2006 Revenue Report from the American Hospital Data Services, Inc.) in July, 2008 states that employees in 50 different types of businesses report using mobile devices for personal data tasks.
Data management no longer lags behind other industries. Even when organisations focus primarily on the selling aspect of their business, they are finding ways to become ever more efficient in their enterprise asset management and in producing operational reports to drive decision making.