The Risks You Take When You Don’t Enable Data

Posted by: Pitchly

Data is your organization’s best growth tool and a necessary data strategy. It can make your firm faster, stronger and more efficient. But if you aren’t taking steps to enable data, the time and money you spend collecting data is all for nothing. Luckily, data is something your firm already has; you just need to know how to turn it into your biggest asset.

How do you Enable Data?

Data enablement is all about making the most out of the data you have to make it actionable, accessible and flexible. In short, data enablement takes your data and makes it work for you. Tools and technology, like a data enablement platform, can be used to enable data. 

When you use data enablement technology, everyone in your firm has access to quality data they can use to directly impact your business outcomes. Your data is structured in such a way that is always centrally located and accurate.

Risks You Take When You Don’t Enable Data

Making the decision to enable data is not one you can put off. Without data enablement, you could be putting your organization’s future firm at serious risk.

Limited Growth

Without data enablement, your organization risks its longevity, ability to scale and overall competitiveness, i.e., inhibiting its ability to grow. Firms run off data – including all the information gleaned from clients necessary to market to new clients. If you’re using spreadsheets to track that data, you’re missing out on a solution that scales with your firm.

Data enablement is a solution to stagnant growth. Data enablement software takes the hundreds of client information points to build an internal database. The data can be used to quickly create new pitches and proposals. 

Data enablement software allows your staff to use your high-quality data to quickly generate tombstones, case studies, logo slides, team bios/CVs and firm profiles. Your data is now actionable, giving your firm the ability to compete with your competitors and win more clients.

Lack of Security

Data enablement helps keep organizations secure. If your firm is using spreadsheets to track sensitive business information, you’re missing out on finely-grained permissions that keep your data safe and resistant to human error. 

Even if you use a cloud service to manage your spreadsheet, like Google Sheets, this only solves the collaboration and versioning issues, but it doesn’t solve any of the other problems with spreadsheets, like having one error ruin your entire database.

While access can be given firm-wide, the data going in is only controlled by a couple of people, helping to mitigate breaches in security. 

Assigning a “champion” of the data in each business unit that accesses the database is another key component of data enablement. The champion can create and access registry and limit permissions to sensitive information. This ensures consistency and accuracy by making sure data is structured, properly safeguarded, and collected in a timely manner. 

Time Wasted

Data enablement simplifies how your employees use data, which saves time and resources. 

When your employees can quickly grab the data they need, time isn’t wasted. Enabled data is structured to allow teams, departments and business units easily access data to put together pitches, proposals and so on. Time isn’t wasted searching multiple databases. 

In fact, some users of Pitchly’s data enablement software say they have saved 93% of the time previously spent preparing credentials and researching firm deal experience. With all that time saved using data enablement technology, investment bank marketers can shift focus to big picture tasks, like new business marketing strategies. 

Start enabling your data now

Stop putting your firm at risk and start enabling data today. Pitchly’s data enablement solution can help. 

Pitchly’s solution will help you leverage your data so you can gain more new clients, beating out the competition. And, when your law firm marketers spend less time pulling data and creating tombstones, pitches and proposals, they have more time to focus on other strategic growth-oriented initiatives.

Want to learn more about what Data Enablement is all about, and what strategies you can implement in your organization? Download our ebook, Data Enablement 101!

Data Enablement 101