Too many paper documents get in the way of success. Managing a few files may not be a problem at first, but what if you have thousands of papers to sort through? Stick to paper processes, and you end up with cluttered office desks and inefficient processes. The point is, you don’t have to be stuck working in the past when there is a modern, more effective alternative.
Document Management Systems (DMS) paired with workflow automation features offer significant benefits over traditional paper management. These advantages include:
One of the biggest problems with paper documents is that they require physical storage. If employees need to retrieve a specific document, they’ll have to visit the archive room and sift through mountains of paperwork just to find the information they need. Research has shown this typically eats up to 30-40% of an employee’s time on the clock.
Document management systems like PaperSave fixes this by digitizing and storing your files in a single, easily accessible location. When documents are scanned into your system, PaperSave uses electronic capture features like optical character recognition (OCR) to record and index key information contained in the document, eliminating manual data entry.
Once stored in a central database, employees can find their documents without ever leaving their desks. For instance, if you’re looking for a particular invoice, you just need to type in keywords like the customer name, item, or transaction number.
Document version control
Another benefit of DMS is version control. If employees need to keep track of changes made to a document, version control features record previous edits and allow them to be recovered if needed. Again, this saves you from the headache of locating a specific version of a file.
Business processes typically involve moving both hardcopy and digital copy files across departments, individuals, and other companies. Rather than moving files manually, however, DMS allows you to create workflows that streamline document distribution.
With PaperSave, you can automatically move documents from one place to another based on predefined rules. For example, you can configure a workflow that redirects order request forms to the appropriate supply manager for approval and even sends an email notification to alert them of the task. This way, employees don’t have to concern themselves with distributing hard copies and you can rest easy knowing that documents are going to the right person.
With paper processes, everything is usually free flow, meaning there’s no way for managers to know whether employees are handling documents properly. Unless you have a way to catalog and track the locations of your files, this can be a noncompliance issue in the making.
If you’re working in a highly regulated industry, PaperSave helps by enabling record retention and deletion schedules. What’s more, PaperSave gives you status updates of each document — whether it’s been approved, who currently has access to it, and what changes have been made. This ensures that everyone is accountable for their actions and that your business remains compliant.
Improved security and business continuity
Did you know that at least if they suffered a disastrous loss to their paper records? It’s a shocking number, but your company can easily avoid contributing to that statistic with DMS.
Unlike paper documents, electronic documents can be safely tucked away in multiple offsite servers that are safe from disasters like floods, fires, and theft. To prevent digital thieves from accessing your data, DMS also comes equipped with enterprise-level security settings, including data encryption, firewalls and intrusion prevention systems, and role-based access permissions.
It’s important to remember that DMS can also save you lots of money. First, consider the capital expenses:
- Paper (around $20 per pack)
- Printer ink ($13 per ounce)
- File cabinets (at least $100)
And those are just the materials. On average, companies spend up to $25,000 to fill one file cabinet. Then, think about the operational costs such as the time spent managing paper processes. When you add all this up, the number you get is simply too much for a small- or medium-sized business to handle on a yearly basis.
Good document management systems can dramatically reduce these costs because you won’t be using as much paper or spending too much time being bogged down with slow, manual processes.
If you’re looking for a cost-effective, highly-efficient document management system, then consider PaperSave. Our product has helped companies get rid of the paper clutter and streamline business processes. For more information on document management and how it can specifically benefit your business, call us today.