Almost two-thirds of Irish businesses have admitted to struggling with too many systems according to a new survey said to “shed light” on the issues companies are facing as information volumes grow.

Encompassing several sectors across Ireland, consultancy firm Convergent found that 63% of businesses reported using up to 10 systems and applications to store information, with almost 24% of respondents operate with more than 10 systems.

“This fragmentation of systems contributes to significant numbers of information silos that lead to duplication, version, and information trust issues,” said Nik Healy, Solutions Director with Convergent.

“This results in inefficiencies and manual processes, and also restricts reporting and business intelligence opportunities.”

Despite advances in technology, 42% of those surveyed are still heavily reliant on paper, according to the survey.

With information sprawled in lots of places, many businesses are reported to be “drowning” in information and are unable to harness its full potential, with the survey reporting that 82% of respondents found the information is the most difficult aspect. In addition, 63% admitted they couldn’t trust that it would be the correct version if they happened to find it.

“The findings underscore the necessity for solutions where information is trusted within a single source of truth,” Mr Healy added.

“For any business to perform optimally, it relies on its documents and information being available easily, quickly and securely. But when that information is spread across lots of disconnected systems and networks it’s hard to find, so true business automation is not achievable.”

The survey also said 97% of respondents expressed interest in investing in solutions that enable information to flow seamlessly and securely throughout their organisation, with 84% of respondents saying they would use AI to streamline business processes to reduce manual effort.

“AI has the potential to dramatically improve business processes and operations,” said Mr Healy. “But it’s important to note that the huge potential of AI can only be leveraged once the existing Content Chaos issues have been tackled and addressed.”

“AI solutions generate and process huge volumes of information, and organisations must have an information management foundation fit for purpose to cater for this volume.”


Source: Article Published in The Irish Examiner May 13th 2024.