One of the primary obstacles executives, archivists, and information professionals may face in the digitization of their physical assets is the cost.
Traditionally, companies have used the supply and demand of physical properties from existing clients as a separate recurring revenue stream that directly affects the bottom line. By providing unlimited access to intellectual properties online, the ability to charge the same fees for access may diminish. Additionally with the glut of digital assets available for purchase online, prices are diluted and similar content might be selected instead of your content.
Successful businesses already recognize that in order to keep up with the rapidly changing business world, they too must be willing to adapt and evolve. When a revenue stream is eliminated, the costs associated with that stream must be reduced or eliminated as well, in order to maintain financial solvency. Finding ways to reduce expense plays a critical role in the digitization process.
At LAC Group, we have an established team of efficiency experts that have been working with clients over the few decades analyzing, identifying, and advising clients on specific areas of information management and asset management expenses that can be offset or sometimes eliminated to create a return-on-investment as they re-invent their businesses in this new digital marketplace, whether through monetization strategies or reduction in physical footprint and inefficiencies/speed of information delivery.
“Almost all quality improvement comes via simplification of design, manufacturing…layout, processes and procedures.” – Tom Peters