FKP Limited is implementing an Enterprise Content Management (ECM) solution from Objective Corporation (ASX: OCL) that will support FKP’s future growth strategies.
FKP is a leading diversified property and investment group with operations across Australia. FKP draws on expertise in development, construction, land subdivision, retirement village ownership and management, investment, property and asset management.
FKP is embarking on a program of change to improve enterprise-wide collaboration and control. Legacy document systems and business processes had created a situation where growth constraints were occurring.
Problems identified that led to the procurement process included a high percentage of time wasted trying to locate information; an inconsistent process to the distribution and sharing of information and no auditable record of access.
Objective was chosen as the Document Management Solution (DMS) because of its functional fit with FKP’s business requirements and compliance with ISO standards.
Laurie Martyn, Business Systems Project Leader, IT & Telco Manager FKP Property Group said: “Objective presented as the overall preferred vendor, it is a local company, with strong national and international presence and offered the lowest risk profile.”
“The business case for implementing a DMS in FKP has identified over $1 million in tangible benefits and avoided costs,” said Mr Martyn.
In an enterprise-wide implementation, Objective is being rolled out in two stages. Stage one is being executed across all business units and retirement villages. Stage two will involve a roll out to all offices and construction sites Australia-wide.
“FKP’s core business activities rely on the efficient and accountable processing of contracts. Having access to the right contractual information at the right time is crucial. Until now, processes for retaining contracts and agreements have varied across the company. The current business challenge is that contracts and agreements are stored in multiple ways and across multiple locations,” said Mr Martyn.
Objective provides a single source of contract and agreement information for FKP. Its use will increase customer and stakeholder satisfaction through faster and more efficient processing of contracts, reduced operating costs and improved accountability.
To ensure accountability, FKP staff currently collaborate by transferring hard-copy documents, such as contracts, emails and non editable PDF’s, between departments. Working with hard-copy documents increases the risk to accuracy as multiple copies can inadvertently be produced and the rework involved increases administrative overhead.
“By leveraging Objective’s automated version control and other management and collaboration facilities we intend to deploy a single, easy to use system for the management of electronic information,” said Mr Martyn.
The Objective solution delivers the following benefits to FKP:
For further information on FKP, visit www.fkp.com.au
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The IBM Compliance Warehouse for Legal Control features an information vault for storing all required evidence, complemented by tools that automatically identify, classify and aggregate content and process information from multiple sources, and that allow organizations to analyze, monitor and deliver that information for legal and operational purposes.
IBM Compliance Warehouse leverages IBM’s end-to-end Information on Demand capabilities, combining integrated products and services with best-practice expertise, providing clients with an accelerated approach to addressing multiple, but specific, compliance issues. With this offering, customers can optimize their processes and systems for compliance through a comprehensive set of capabilities, including:
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