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Companies at risk – Economist survey shows lack of visibility

  • 27 September, 2004 11:42

<p>Sydney — September 27, 2004 — FileNet Corporation has announced the results of new research that looks closely at business process management practices in more than 100 enterprise organisations.</p>
<p>The study shows a lack of corporate visibility to business processes and high risk factors that include non-compliance and customer dissatisfaction. The Economist Intelligence Unit, a United Kingdom-based leading provider of country, industry and management analysis, conducted the study.</p>
<p>The survey shows that boardrooms in more than a third of European companies lack an enterprise-wide view of their business processes, even though 96 per cent identify a clear link between process management, regulatory compliance, and profitability.</p>
<p>In 76 per cent of companies responding, responsibility for process management lies with multiple ‘line of business’ managers who are expected to work together to ensure that improvements to one part of the organistion do not negatively impact another. Often, no formal collaboration procedures exist.</p>
<p>Only 10 per cent of respondents said they always have sufficient visibility of business processes to respond quickly and appropriately to change. Forty-one percent said that they do not manage the risks associated with that change in any systematic way leading to potential inefficiencies and customer dissatisfaction.</p>
<p>James Rae, Managing Director of FileNet Australia and New Zealand, commented: “There is no reason to doubt that the survey’s results are reflected locally. In many companies, process management is still decentralised and based upon a fragmented view of the larger picture. We believe the boardroom needs greater insight into core operations in order to replicate successes and respond quickly and appropriately to changing business, regulatory and economic pressures.”</p>
<p>Rae added: “Companies need to take both a content-based and a process-based approach to compliance. They need to be able to audit the steps involved in a decision - regardless of whether they were automated or manual and regardless of the number of times associated regulations may change. To do this, companies are turning to integrated enterprise content management solutions which deliver best-of-breed business process management capabilities in order to address their compliance needs.”</p>
<p>Fifty-five percent of companies involved in the survey said they are evaluating Business Process Management tools. After core business operations (65 percent), customer service was identified as the area that would most benefit from more systematic process management (50 percent). Fifty-six percent of senior executives identified customer service as their number one priority.</p>
<p>Other areas expected to benefit from improved process management included supply chain, sales and marketing, product development, finance, accounting and compliance.</p>
<p>The Economist Intelligence Unit research is part of a survey and seminar series from FileNet exploring all aspects of Business Process Management and entitled ‘Need to Know Now’. For more information or a copy of the report visit: http://www.filenet.com/bpmnow.</p>
<p>About FileNet
FileNet Corporation helps organisations make better decisions by managing the content and processes that drive their business. FileNet’s Enterprise Content Management (ECM) solutions allow customers to build and sustain competitive advantage by managing content throughout their organisations, automating and streamlining their business processes, and providing the full spectrum of connectivity needed to simplify their critical and everyday decision-making.</p>
<p>FileNet ECM solutions deliver a comprehensive set of capabilities that integrate with existing information systems to provide cost-effective solutions that solve real-world business problems.</p>
<p>Since the Company’s founding in 1982, more than 4,000 organizations, including more than three quarters of the Fortune 100, have taken advantage of FileNet solutions for help in managing their mission-critical content and processes.</p>
<p>Headquartered in Costa Mesa, Calif., with offices in Sydney, Melbourne and Canberra, the company markets its innovative ECM solutions in more than 90 countries through its own global sales, professional services and support organisations, as well as via its ValueNet Partner network of resellers, system integrators and application developers. Visit FileNet's Web site at www.FileNet.com, or call (02) 8224 09900.</p>
<p>About EIU
The Economist Intelligence Unit is the business information arm of The Economist Group, publisher of The Economist. Through its global network of over 1000 in-house editors and economists, and a global network of over 650 contributors, the unit continuously assesses and forecasts political, economic and business conditions in nearly 200 countries. As the world’s leading provider of country intelligence, EIU helps executives make better business decisions by providing timely reliable and impartial analysis on worldwide market trends and business strategies.</p>
<p>Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This release may contain forward-looking statements that involve risks and uncertainties. Words such as "anticipates," "expects," "intends," "plans," "believes," "may," "will" and similar expressions are intended to identify forward-looking statements. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are FileNet's ability to develop, complete, introduce, market, distribute and gain market acceptance for its products and technologies in a timely manner; announcements of technological innovations, new products or product enhancements by FileNet or its competitors; general market conditions; and other factors detailed in the FileNet's filings with the United States Securities and Exchange Commission, including its recent filings on Forms 10-K and 10-Q.</p>
<p>Note to editors: FileNet and ValueNet are registered trademarks of FileNet Corporation. All other company or product names referenced in this release may be trademarks or registered trademarks of their respective owners.</p>
<p>Media Contacts:
James Rae David Frost
FileNet Corporation PR Deadlines
Phone: 02-8224 9900 Phone: 02-4341 5021</p>

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