This is a guest post written by Sarah Gayda from our partner company, Colligo. The original text, along with many other articles around SharePoint tools for the modern workplace, can be found on their blog.
Costs for email non-compliance far greater than implementation of governance solutions
Did you know the cost of non-compliance for an organisation is nearly three times higher than the cost of compliance? To put that in real numbers, the average cost of compliance for the implementation of governance and compliance frameworks and solutions came in at $5.47 million, while the average cost of non-compliance was $14.82 million.
At the same time, more work and communications are happening in email than ever before, and the volume of records created in email is ballooning. 86% of professionals prefer to use email when communicating for business purposes according to HubSpot, and research by Radacati shows the total number of emails sent and received each day is forecast to grow to over 347 billion by the end of 2023.
Email poses significant financial risks and productivity costs
The risks of not managing email records properly are severe. Recently, Morgan Stanley agreed to pay $200 million to “resolve probes into employee communications on messaging platforms that had not been approved by the company.” Further, “The SEC has been looking into whether Wall Street banks have been adequately logging employees’ text messages and emails as bankers moved to remote working during the pandemic.”
In addition to the significant financial and reputational penalties organisations face for email non-compliance, they also experience a tremendous loss of employee productivity due to improperly managing email. The average professional spends 28% of the workday reading and answering email, and more than an hour a day searching or recreating information that already exists in their organisation.
SharePoint email storage is ideal with effective add-ins like Colligo
Storing emails in SharePoint is a great method for staying compliant and saving time. However, on its own, SharePoint does not allow you to capture email to SharePoint or connect Outlook to SharePoint in a quick or user-friendly way. Even if your organisation aims to store emails compliantly in SharePoint, you likely face a couple of common stumbling blocks:
- User resistance – the process is too complex and cumbersome
- Lack of effective tools & technology for bridging the SharePoint Outlook gap
For example, for one Colligo customer, getting content into SharePoint was a laborious, time-consuming process. Filing an email or attachment to SharePoint, or emailing content from SharePoint, could take days and might involve a four-step process with multiple team members. Given the number of documents each client is required to upload, this amounted to 20-30 days per year. No wonder users were resistant!
After implementing Colligo Email Manager for Microsoft 365 to enable SharePoint Outlook integration, team members could stay in Outlook and:
- Quickly and easily file emails and attachments to SharePoint
- Quickly search SharePoint in Outlook and share SharePoint files
- Tag emails so they can be found again through search
Instead of taking multiple days to file emails to or send content from SharePoint, Agency staff can now file and send emails within seconds, without any administrative involvement – a time savings of close to 75% – increasing worker productivity. Read the full case study on the Colligo website.
Intrigued to learn more?
Keeping in mind that your costs to stay compliant are three times less than the costs of being non-compliant, let us show you how easy and cost effective it is to save emails to SharePoint with metadata from within Outlook. Get in touch with us here at Qaixen and we can share more information on Colligo’s Outlook SharePoint add-in and even to arrange a personalised demo with the team.
