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Any consulting company can be defined as a company that sells knowledge. The most valuable feature that a consulting company can offer to the client is the collective knowledge that they have developed over time. These companies are faced with increasing customer pressures for high quality projects, economic uncertainty, and shrinking time frames to conclude projects and stay ahead of their competition. They need to take control of their business by improving efficiency and productivity.
In a consulting company, documents and knowledge related to them is a critical element to enhance core competences. A company's success will finally depend on the speed at which they can generate, capture and disseminate knowledge and use it to develop capabilities that cannot easily be copied by their competitors. The ability to create knowledge and continuously learn from it can become a competitive advantage because innovative knowledge developed today will become the core knowledge of tomorrow.
Consulting companies have huge volumes of paper documents and knowledge related to them. However, they are faced with the following challenges in managing these paper records:
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High Costs:
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The employees of consulting companies are spread across different geographical locations and usually maintain their records in individual locations separately. The inefficiency of paper-based or stand alone systems becomes counterproductive and costs a lot of money in terms of man hours.
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Due to lack of collaboration and centralized knowledge repository, same documents have to be recreated over and over again costing a lot of money
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Storage and Search Issues:
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It is extremely difficult to search for paper documents and costs a lot in terms of time and man hours
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Paper documents require a lot of expensive storage space
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Communication Issues:
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In paper-based systems, the document review process can be long and cumbersome. It requires a lot of meetings to discuss changes and obtain approval and signatures. When a change is rejected, more meetings are called for resulting in loss of time and man hours.
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- Knowledge Dissemination and Retention Issues:
- Consulting companies need to retain and improve the organizational
memory represented by knowledge and experiences. The employees
of these companies share knowledge and communicate complex concepts
and processes amongst themselves via email or phone. This valuable
knowledge is lost with time and has to be recreated every time
it is required. Thus companies are not able to repeat successful
practices and reuse valuable expertise.
- Consulting companies need to retain and improve the organizational
memory represented by knowledge and experiences. The employees
of these companies share knowledge and communicate complex concepts
and processes amongst themselves via email or phone. This valuable
knowledge is lost with time and has to be recreated every time
it is required. Thus companies are not able to repeat successful
practices and reuse valuable expertise.
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Information Availability Issues:
- Consulting companies are also faced with the challenge of information discovery as the right users are not connected with the right information at the right time. Manual categorization of large amounts of documents, building comprehensive taxonomies, and absence of knowledge sharing is a huge challenge faced by consulting companies.
How can LuitDox SaaS help Consulting Companies?
LuitDox SaaS can help consulting companies streamline their
document filing and records management processes. The following are
the "before" and "after" effects of implementing
LuitDox SaaS :
| "Before"
using LuitDox SaaS |
"After"
using LuitDox SaaS |
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| Document
Management Challenges |
LuitDox SaaS
DMS Solution |
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| Inefficient paper-based Document Management System | Efficient Document Management System | |||
Lack of document revision
control |
Automated document revision
control |
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Disconnected document
management processes |
Centralized document
management |
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Loss
of Knowledge and organizational memory represented by knowledge
and experiences |
Centralized knowledge
management repository for storing business critical documents and
knowledge for future reference and use |
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High costs of storage
and searching paper documents |
Advanced search functionality
makes searching documents very fast. Documents are stored in your
servers instead of filling hundreds of square feet of prime space
with file cabinets. |
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Lack
of oversight due to absence of a centralized reporting facility
on the document activities |
Increased visibility
due to document usage reports that can help in maintaining a record
of the document related activities performed by the different employees |
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Inability to track if a
user has viewed a document. |
Whenever a user takes a look at the document,
LuitDox SaaS captures the document viewing event |
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Inefficient Workflow
Process - A paper-based system is plagued by bottlenecks, lack of
follow up and inadequate response. All of these can result in delayed
approval of documents. |
Efficient Workflow Process
- the easy to configure workflow process of LuitDox SaaS helps consulting
companies in streamlining document approval processes |
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Loss of knowledge assets
and duplication of work |
Protect knowledge assets
to reduce the duplication of work and to enable organizations to
identify knowledge gaps using a easy-to-use system |
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| Expensive
employee training processes due to lack of training materials in
a centralized and searchable repository |
Reduce
training costs, improve learning and foster innovation by streamlining
information access and retrieval, putting content in context |
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Lack of a single system
to reconfigure, recombine, and integrate knowledge from distinct
and disparate sources and foster team working in environment. |
LuitDox SaaS provides an adequate media to
reconfigure, recombine, and integrate knowledge from distinct and
disparate sources without limiting a consultants’ creativity
to solve problems. It supports effective team-working in environments
where teams are located physically together in the same office,
as well as virtual teams who do not necessarily meet face-to-face.
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Poor Follow-up - Assigning
team members and following up document review tasks via e-mail or
phone is a time-consuming process that could easily fall through
the cracks |
Efficient
Follow-up - Automates document review task assignment and follow-up
and has notification capability for any review not completed by
deadline. |
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Lack of Security - Consulting companies have specific security
requirements to ensure the integrity and authenticity of data. Paper
submissions compiled in binders and folders or stored partially
in computers provide little security. |
Secure Repository - Documents are stored in
secure centralized servers and can be viewed only by authorized
users |
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