Written by Dan Marcus
It’s difficult to define a single number that each company can use to calculate the impact a management system will have on their bottom line. With that being said, there is transferable logic that every company can apply to calculate their return on investment by establishing better data management.
Managers are hired because of the unique knowledge they possess in their area of expertise (human resources, safety, environment, or quality management). A manager’s main objective is to implement changes that promote continual improvement. Investing in a data management system has a direct effect on an organization's bottom line because it enables the organization to better utilize their key employees. A direct return is inevitable when the amount of time key staff spend managing data is reduced. This is especially true when preparing for audits.
Audit reporting involves thousands of records and can take managers and support staff weeks to prepare, in addition to their daily data management routines. Utilizing a direct-entry database significantly reduces the time and intellectual resources required to collect and format company data.
Once the necessary information is collected and formatted, reports need to be generated. The Intelex Management System simplifies the reporting process through configurable reporting functionality that enables users to create and store reports based on their specific corporate or auditing criteria.
With information being collected in real-time and reports being preconfigured for single click access, employees save countless hours that can be more effectively devoted to their primary objective; observing behaviors, analyzing data, and developing changes that further impact the bottom line ? reducing costs and increasing productivity.
Data management systems also generate secondary return-on-investments such as new opportunities for corporate marketing efforts and corporate recognition through industry awards and media acknowledgements, both generate increased business opportunities.
An organization's bottom line is therefore improved by reducing the amount of time key employees spend managing data while providing a tool to aide in continual improvement. In an environment where transparency can make the difference, data management provides a basis to prove what you preach, which can make the difference between market share or the big contract.
