Benefits of Content Analytics

Early adopters of content analytics are reaping the benefits with 68% reporting ROI within 18 months, as well as more efficient workflows, enhanced search and improved compliance advantages.

Discussions surrounding big data have increased in recent years, so it is no surprise that interest in content analytics, the use of digital content to improve business strategies and eliminate manual document processes, has grown significantly. A recent survey conducted by the Market Intelligence Division of Association for Information and Image Management (AIIM) sponsored by Swiss Post Solutions (SPS) examined the market trends on adoption, applications, issues, and progress surrounding content analytics. The research shows a lack of expertise (36%) discourages many from opting-in to content analytics implementation, yet equally reveals a growing interest in leveraging content analytics as a business tool.

The study confirms that only 38% of respondents utilize at least one type of content analytics, however, 73% know there are real business insights to be gained, and 54% feel they are exposed to risk from non-identified content. Moreover, the findings attest that both larger and smaller companies have adopted these practices more swiftly when compared to mid-sized companies.

In relation to process automation and inbound routing, 50% agree that processes are flowing faster and smoother while the majority is reporting positive ROI. The most popular application being utilized in this area is invoice processing where data is extracted via OCR technology from inbound mail, then validated against purchase orders.

In addition to the lack of expertise, information governance policy creation and investments in tools and resources are cited as inhibiting progress according to the research.

“We’ve seen customers struggle with simply getting started, but they quickly recognize that many of the issues surrounding implementation are reduced greatly when those processes are outsourced to companies such as SPS,” said SPS North American Vice President of Solutions and Services, John Chestnut.

With 68% of respondents reporting ROI within 18 months, as well as more efficient workflows, enhanced search, and improved compliance advantages, it is clear to early adopters of content analytics that the benefits outweigh the issues. Dan Moscatiello, CEO of Swiss Post Solutions North America stated, “Our customers are experiencing significant productivity gains, in addition to real cost savings, by transforming their paper processes to automated workflows. The solution is not only a short-term gain but the long-term enablement of scale and process improvement that continues to yield benefits in future years.”

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