Can the lack of an information management system cause bankruptcy?

Computer based information systems are now seen as a critical part of information management and a way of providing companies an edge over their competitors. If your staff are spending a lot of their time trying to find documents, struggling with version control, have no idea of audit trails/archiving, or you have no idea who is accessing you data and potentially walking away with it to your competitors, then I would say that it will not be long before your competitors with information systems will have the edge over you. If you have no way of assessing data integrity or the increasing volumes of electronic data that are coming into/being generated/being distributed by your business, no archiving systems and no disaster recovery, then you may well be on your way to bankruptcy without even knowing it.