Let’s face it, paper can be wasteful. Not only does it take up space and waste ink, but it also takes time to file and retrieve paper documents. Digital document management systems are designed to help modern businesses save time and money while making, filing, retrieving, and sharing documents. Incorporating it into your current business processes can be a competitive edge for you and your business. Read on to learn how.
If you work with large hardcopy documents, searching for keywords or phrases can take a significant amount of time. When documents are digitized, they become content with searchable text fields. This makes it easy to search for key phrases and words in documents or across a database.
Moreover, document management often allows internal business processes to be automated, freeing up staff time. Beyond automation, a document management solution means you can better manage workflows, routing, copies, team updates, approvals, and set audit trails for access.
In a recent study by Nintex, 49 percent of employees reported having trouble locating documents and another 43 percent said they had trouble getting documents approved. In companies that require multiple levels of approval, digital document management can speed the process up dramatically, cutting approval times from days or weeks to minutes.
Incorporating electronic approval and eSignatures with a document management solution can also increase efficiency. A DocuSign/Ombud survey reported that incorporating electronic signatures via a document management will reap savings per document for businesses and will decrease turnaround time by 80 percent.
Eliminate Lost Documents
In a recent global survey done by Adobe, lost documents and challenges finding and accessing documents accounted for a startling 32.4 percent loss in productivity. On the other hand, a dedicated document management solution can virtually eliminate lost documents.
Digital files can be automatically backed up in remote locations or in the cloud. This creates an additional layer of security in case of a natural disaster, such as a flood or fire. This may seem far-fetched, but it’s crucial that you take steps to ensure this doesn’t happen to you! Consider that 60 percent of small- to medium-sized businesses (SMBs) that lose their data due to an unforeseen event shut down within six months.
You can also set up various security access levels for individuals or workgroups, assigning editing rights, access rights, and print rights with clear audit trails to increase your data security.
Other Ways a Dedicated Document Management Solution Can Help
- In addition to time savings for you and your employees, you can also virtually eliminate the need for filing cabinets and storage space.
- You may be able to eliminate costs for off-site document storage.
- Remote workers can have the same access as office workers and collaborate no matter where they work.
To get started with a dedicated document management solution, contact Monster Technology today. Our document management solutions can help make you more productive, more secure, and more efficient.