As is my wont, I’ve spent some New Year’s time lately researching various genius’ opinions regarding the economy in the coming months, and I’m happy to say that there’s pretty good consensus that 2023 is going to be a really great year – except for when it’s not.
To hear them tell it,
- Consumers are in generally good shape, with savings accounts that are more full than they were before the pandemic … mostly because there were shortages of so many things during the shutdown periods that there was relatively little to spend on.
- Interest rates likely won’t go up much more, if at all, and so …
- Inflation will continue to come down, especially in the first half of the year … though practically speaking, I guess this means that the rate of price increases is slowing rather than the prices themselves actually falling.
- Meanwhile, the costs associated with accessing services are still climbing, apparently because of … well … reasons.
At that point, I kinda stopped listening, having gleaned the gist of what I wanted to learn, which is that we’re in for a year of uncertainty, with cautious optimism perhaps the best we can hope for … making this a particularly good time to bring our information challenges to heel.
The Time is Now
I know I’m always the one saying the time to Do Information Right™ is Now, and that’s because it is. But when economic waters are especially unglass-like, one of the best things we can do is tackle as much risk as we can. Doing so can spell the difference between profit and loss, and we in our space are perfectly positioned to a great number of things like:
- Speed and secure information access and delivery
- Ensure privacy, currency, and accuracy
- Support better business and process decisions
- Enhance your ability to serve your customers and constituents, inside and outside your place
- And a bunch of other benefits like remaining compliant and preparing for legal discovery
These aren’t issues that require a hazy economic outlook for us to shine, but it can help in a perverse sort of way by rising toward the top of senior managers’ To-Do lists, as they look for ways to protect your organization from the expected squalls.
So here’s the thing: rather than sweat the various squeezes that may be in the offing – at least until the economic winds freshen – embrace them as an opportunity to apply your information skills to pour a little oil on the waters.
- Focus on how better information governance can reduce fraud, improve customer service, and even guard against innocent mistakes like using a seemingly complete or inaccurate operations dashboard, or price sheet, or contract template. This is true always, but it’s compellingly vital when girding for a less-than-robust economy.
- Emphasize how doing these things can give you a competitive advantage while also allowing you to better meet your constituents’ demands, which may intensify as the economy bumps along.
- Use the need to operate smarter when times are tougher to build your business case, pointing out that every bit of improvement will drop instantly and noticeably to the bottom line.
- And lastly, don’t forget to also point out that, besides now, the best time for infogov is NOW. As it always is.
Now Tell Me:
How Can I Help?
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