Research published today by Ricoh Europe reveals that European businesses could be missing out on potential profit increases of €46 billion, due to the existing, inefficient methods used to process information. TheRicoh Process Efficiency Index shows that employees across Europe responsible for managing business critical document processes spend approximately 362 million hoursof their time per year on the function, which amounts to an overall business cost of €147 billion. The Index examines how European organisations are managing their business critical document processes; those that occur regularly and repeatedly and have a direct impact upon businesses interactions with clients and employees. For example, purchase orders, patient records or invoices. The study also identifies the areas for improvement and the economic return that those improvements could deliver. Carsten Bruhn, Executive Vice President, Ricoh Europe said: "This report is essential reading for every European CIO. It highlights that if European businesses are to meet the challenge of competing with emerging markets, it is essential that they look at the efficiency of their business critical document processes." "The Index clearly illustrates how outdated, manual processes have multiple impacts on the business. For example, if critical information is processed using traditional hard-copy methods, business risk is enhanced as they are less likely to be backed-up. They are also easier to lose, making them more prone to security breaches. It is also inevitable that employees are spending unnecessary time processing business documents, instead of focusing on the core business transactions and customer service."
Access Investments-Building Awareness - European Union-ROMANIA
Thursday, June 30, 2011
Research published today by Ricoh Europe reveals that European businesses could be missing out on potential profit increases of €46 billion, due to the existing, inefficient methods used to process information. TheRicoh Process Efficiency Index shows that employees across Europe responsible for managing business critical document processes spend approximately 362 million hoursof their time per year on the function, which amounts to an overall business cost of €147 billion. The Index examines how European organisations are managing their business critical document processes; those that occur regularly and repeatedly and have a direct impact upon businesses interactions with clients and employees. For example, purchase orders, patient records or invoices. The study also identifies the areas for improvement and the economic return that those improvements could deliver. Carsten Bruhn, Executive Vice President, Ricoh Europe said: "This report is essential reading for every European CIO. It highlights that if European businesses are to meet the challenge of competing with emerging markets, it is essential that they look at the efficiency of their business critical document processes." "The Index clearly illustrates how outdated, manual processes have multiple impacts on the business. For example, if critical information is processed using traditional hard-copy methods, business risk is enhanced as they are less likely to be backed-up. They are also easier to lose, making them more prone to security breaches. It is also inevitable that employees are spending unnecessary time processing business documents, instead of focusing on the core business transactions and customer service."
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Over the past two weeks, we have been suggesting, tongue in cheekily, that despite the relentless desires of everyone to sell the EUR, it has continued to drift higher, due to some inexplicable force with bottomless pockets, which, after some deductive logic, we assumed was China. It turns out we were correct. Naturally, figuring out what China does with its $3 trillion in foreign reserves is sometimes more complex than brain surgery (except what it does every time it sees a barrel of oil for sale: then it is pretty much guaranteed what it will do). But when it comes to preserving its 3 rounds of horrendous European down payments, it was pretty logical that China would do everything in its power to prevent a waterfall effect that would result in Europe imploding in a ball of illiquid singularity. The WSJ has confirmed that China's SAFE is actively doing all it can to transfer billions of its dollar-denominated holdings into euros. And while this does not mean the EUR is the new reserve currency, it certainly means that China has now become the deciding factor as to just who is (much to the chagrin of Markel, and delight of Geithner... for the time being).
From the WSJ:
China's deep pockets are momentarily keeping the euro supported.
BERLIN, June 29 (Reuters) - German political leaders clashed with the head of the country's largest bank on Wednesday over regulation of the financial sector and the role Greece's private creditors are being asked to play in a new aid package.
In an unusually blunt exchange at a conference on regulation, Chancellor Angela Merkel and her finance minister warned of the risks of failing to tackle the "too big to fail" and of delaying regulation while waiting for elusive international consensus.
They openly challenged Josef Ackermann, the chief executive of Deutsche Bank (DBKGn.DE), who argued that unilateral steps would hurt the competitiveness of German banks and that a new banking levy would cost his bank 700 million euros after tax.
The banker told the audience of politicians from the ruling conservative bloc and members of the financial industry that the country "has pushed ahead with a series of unilateral reforms" in the crisis which were costing his bank over a billion euros.
But the centre-right chancellor and her finance minister, Wolfgang Schaeuble, both argued that there was no choice but to push ahead on the national or European level because of the lack of consensus on a broader international level.
"Germany has by all means put itself at a disadvantage," Merkel acknowledged, but both she and Schaueble said Berlin was ready to accept such a cost in the struggle for new regulation.
Germany's largest bank would be among the hardest hit by a new banking levy, which would be paid into a fund to relieve taxpayers of the cost of future bank bailouts. Ackermann also cited German initiatives such as limits on naked short selling
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