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15 May 2018

Can Your Data Catch Fire?

May 15, 2018Blog

To start things off I just want to clarify the difference between data Digitization and Digitalization as they can be mistaken from one another from time to time. Data digitization is creating a digital version of physical things such as paper documents and photographs. Digitalization is the process of improving or transforming business operations with the use of digital technologies and a broader sense of digitized data with a specific benefit in mind.

Many businesses today have yet to go paperless because of the time it takes to do so.  But with the magnitude of files and documents companies have today, it’s a huge risk to not have your data digitalized.

One of the biggest problems and consequences they face is the loss of all documents in the case of a natural disaster. It has happened with companies before and the rebuild process of it all is tedious. Just a few years ago in 2015, a New York City warehouse fire destroyed files from over 1 million court cases. Multiple lawsuits were filed as law firms are obligated to keep records for a certain amount of time. Along with law firms, NYC agencies, health companies and financial firms also lost documents in the blaze. Everything was handled case by case but if you look at the time cost that was added, it was surely greater than expected. If this ever happened to your company knowing that you could’ve prevented it from the start, how would you continue to operate your business and serve your valued customers? With such a significant loss of strategic information and resources, how would you maintain your competitive edge?

Besides losing your documents there is also the loss of time that arises, which is having to search through cabinets and folders just for one document. On top of that when you need a file you are limited in where you can access it, as it’s only in a handful of physical locations. If problems like these were solved before there was ever a problem then companies wouldn’t have to worry about losing their files as they would have reassurance from their backed-up files on their data servers or in the cloud, if a natural disaster ever occurred.

Of course, the best way to assure that your business records survive a disaster is to protect them before the disaster strikes. The best solution to this would be to digitize all the paper-based documentation in the company that can be physically destroyed.

 

How NRX AssetHub can help with data digitization 

 

Typically, when companies go paperless they also introduce their data into an EAM system. NRX AssetHub helps our customers automate data build projects from multiple sources to a staging area where it can be enriched and finalized until it is deployed into a system. Our data digitization process can be loaded from photographs and paper documentation. NRX AssetHub is also compatible with virtually any best-of-breed engineering, maintenance, and asset management software application. Including IBM Maximo, SAP PM, Oracle EAM, Infor EAM, and many others.

We make it easy to digitize asset information to improve asset data and make it more accessible, reducing cost and risk. Thus, making it easier to look up parts and service information, decreasing search time for documentation and parts. In fact, we help our customers save a minimum of 50% on the cost associated with a CMMS data build. When it comes to better maintenance, we help our customers achieve a 2.5% savings in ongoing maintenance and operations. Along with at least a 25% increase in wrench time for maintenance workers when all of your documents are digitized and easily available.

 

About NRX AssetHub

 

NRX AssetHub provides maintenance and reliability professionals at asset-intensive businesses with world-class software solutions for analyzing, visualizing, building, editing, organizing, approving, and sustaining high-quality Asset and Maintenance Data for the Enterprise Asset Management (EAM) and Computerized Maintenance Management (CMMS) systems. We help our customers get their CMMS data right.

To find out more on how NRX AssetHub can help your organization build your data and implement it into a EAM/CMMS, check out our brochure here or book a meeting today!

 

Sources

“Digitization, Digitalization and Digital Transformation: The Differences.” i-SCOOP, i-SCOOP, 6 May 2018, www.i-scoop.eu/digitization-digitalization-digital-transformation-disruption/.

Wiessner, Daniel. “NYC Warehouse Fire Destroyed Files from 1 Million Court Cases.” Reuters, Thomson Reuters, 3 Mar. 2015, www.reuters.com/article/us-new-york-documents-fire/nyc-warehouse-fire-destroyed-files-from-1-million-court-cases-idUSKBN0LZ2QE20150303.

 

 

 

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