But how exactly?
1) Simplifying Complex Workflows: The paper-based workflows in your organization could use an update in the digital age. Through document management, repetitive business processes – moving documents through multiple touch points – are simplified in a digital environment. Complex processes where new information is added to a workflow or additional decisions need to be made may be automated to allow your employees to focus their time elsewhere. The right software allows you to create and revise workflows as your organization changes or additional positions and processes are added to the mix.
2) Integrating Existing Business Systems: Pursuing document management software without integration in mind is a mistake. By integrating vital software and systems, customer and vendor documents are a mouse click away. Integrating your software with the programs and applications your employees use every day not only increases their efficiency, it increases the likelihood that they use and support the document management system as a whole. This enhances your ability to leverage your technology investment organization-wide.
3) Increasing Document Retrieval Success: According to a PwC study, on average, workers spend around 40% of their time managing non-business critical documents. Similarly, the IDC estimates that employees spend about 20% of their day looking for paper-based documents, and half of the time, their search ends in failure. Through digital document management, document retrieval time drops significantly. Complex search functionalities enable users to use multiple parameters to discover the documents they need when they need them.
4) Protecting Business From Unforeseen Disasters: While moving paper-based documents into a digital environment frees up office space, it also protects these documents from physical damage and loss. Where natural disasters have the potential to destroy physical documents, electronic documents are backed up in multiple ways – through the cloud and offsite servers. So, even if your internal infrastructure is compromised, your documents are safe and secure.
5) Tightening Security On Sensitive Documents: A comprehensive approach to document management considers multiple users in multiple roles, which means safeguarding documents and file access through authentication and authorization. File types, including folders and documents, help you balance security through feature and user rights. Here, the time-saving aspect of digital document management is seen in audit trails and being able to automatically monitor and recall every touch point.
Document management software helps your business deal with the rapidly changing digital environment while increasing your efficiency and keeping you competitive. As other businesses turn their documents digital, your customers in some cases may expect to deal with you digitally.
Plus, by implementing a single document management solution, you stop wasting time on handling paper and spend more time doing what you do best: providing quality products and services to satisfied customers.