BPI Network Study, Sponsored by Foxit Software,Highlights Challenges and Risks of Working with Untraceable Documents
(SAN JOSE, CA — June 27, 2016) A new study released today by the Business Performance Innovation (BPI) Network finds an overwhelming majority of professionals are dealing with document-related productivity challenges associated with the inability to locate and track documents, control versions, efficiently complete reviews and approvals, and maintain information security.
Based on a survey of approximately 500 professionals worldwide, the study finds 92 percent of managers and knowledge workers consider themselves to be document-dependent, including 90 percent who say they are dependent on PDF technology to create and distribute documents. Most expect their dependency to continue to increase into the future.
The study, entitled Overcoming Document Deluge and Danger, was sponsored by Foxit, a leading software provider of fast, affordable and secure PDF solutions. Foxit today announced the introduction of ConnectedPDF, a new technology that embeds identity and intelligence into PDF documents, enabling a range of cloud-delivered document management capabilities, including document locating and tracking, file update notifications, shared and synchronized review, remote file protection, data collection, and more.
To download the report, visit http://www.bpinetwork.org/document-deluge-report
The study finds that workers are frustrated by a wide range of issues related to creating, finding, sharing, approving, and processing documents. Their top four concerns are:
Lost time searching for documents
Wasted time recreating lost documents
Long waits gaining approvals on documents
Security and privacy worries
The survey demonstrates that managers and knowledge workers would benefit from technology solutions that make document management simple and affordable. Three-quarters of all survey respondents say that being able to track the receipt, readership and location of documents would be valuable to their work. Top benefits, according to respondent, would be:
Ensuring the integrity and trust of each document
Improving conformance with policies and regulations
Easier removal of outdated documents from circulation
Intellectual property protection and control over who sees it
“Far from reducing our use of documents, the digital age and connected economy seem to be increasing the value, necessity and use of documents in our daily work lives—and perhaps multiplying the challenges and dangers as well,” said Donovan Neale-May, executive director of the BPI Network.“Yet, at least until now, there is no widely adopted technology solution to mitigate common challenges that are costly to businesses of all kinds.”
“The study findings demonstrate the need for a new approach to document management and collaboration in a connected world,” said David Ronald, Head of Marketing at Foxit Software. “It’s time for a new kind of PDF that is intrinsically connected so it can be better protected, tracked, recovered and collaboratively reviewed without the need for costly and complex systems that are largely ignored. ConnectedPDF is that solution.”
Among the key study findings are:
92 percent of survey respondents are document dependent, including 51 percent who are “highly dependent”.
91 percent said the pace of document creation will either increase (58%) or stay the same (33%) within their organizations.
83% agree that today’s “accelerated pace and connectivity of business” requiresthem to produce, share, manage more documents.
The most important types of documents: legal contracts/business agreements, price quotes/RFPs, ongoing business communications
The top frustrations in dealing with documents: lost time searching for them, lost time recreating them, the risk of using the wrong version, security and privacy concerns
Security and control of documents is a concern to 84 percent of respondents
77 percent of all respondents say it would be beneficial to be able to track receipt, readership and location of PDF documents
The most beneficial features in a next-generation cloud service for PDFs would be: simplified document retrieval, simplified refresh and updating of documents in circulation, ability to easily notify recipients of document changes, the ability to track who is opening and editing a document.
About the BPI Network
The Business Performance Innovation (BPI) Network is a peer-driven thought leadership and professional networking organization reaching some 50,000 heads IT transformation, change management, business re-engineering, process improvement, and strategic planning. It is dedicated to advancing the emerging roles of the Chief Innovation Officer and Innovation Strategist within today’s enterprise. The BPI Network brings together global executives who are champions of change within their organizations through ongoing research, authoritative content and peer-to-peer conversations. These functional area heads (operations, IT, finance, procurement, sales, marketing, product development, etc.) and line-of-business leaders are advocates for Innovation as a fundamental discipline and function within 21st Century organizations. They seek to demonstrate where and how new inventive solutions and approaches can advance business value, gratify customers, ensure sustainability and create competitiveadvantage for companies worldwide. For more information, visit www.bpinetwork.org.
About Foxit Software
Foxit is a leading software provider of fast, affordable, and secure PDF solutions. Businesses and consumers increase productivity by using Foxit’s cost-effective products to securely work with PDF documents and forms. Foxit is the #1 pre-installed PDF software, shipped on one-third of all new Windows PCs, including those from HP®, Acer, and ASUS®.
Foxit’s Software Development Kits (SDKs) help developers reduce costs and improve time to market by easily integrating industry-leading PDF technology into application workflows. This technology shares the same underlying technology that powers Google’s open-source PDFium project, as well as PDF reading in the Chrome browser and Android phones.
Winner of numerous awards, Foxit has over 425 million users and has sold to over 100,000 customers located in more than 200 countries. Since Foxit products are compliant with the ISO 32000-1/PDF 1.7 standard, they are compatible with existing PDF documents and forms.