Document Management Systems Will Reduce Your Operating Costs
Business operators and CFO’s are always looking at ways they can make their organisations more efficient and save money.
An increasing number are now considering more seriously than ever the benefits of a document management system particularly with the necessary changes placed on working arrangements during the COVID pandemic.
Whilst the advantages of moving away from traditional paper based manual process might seem obvious, a stumbling block to implementation over the years has been reconciling the costs involved against the return of this investment (ROI).
Significant research into payback timescales has been undertaken and indicates a healthy return for every pound invested. Below we list a few of the key advantages for you to consider as part of your deliberations.
- A Reduction in Storage Costs
These savings are delivered in two important areas.
By moving to an electronic document management system, you remove the need to generate and store large volumes of documentation either expensively on-site or with off-site storage providers.
In addition, as employees are increasingly working away from the office, with the likelihood that this will continue after the pandemic, are you able to scale down your accommodation and achieve the huge savings this can represent.
- Massively Reducing Copying and Printing Costs
An electronic document management system eliminates the need to print and store paper. Files are stored and retrieved instantly from a secure environment.
A document management system can save every document associated with your business, be they invoices, contracts, CV’s or email. Once stored documents may be retrieved either by title or their text.
Version control means that your employees will always be working with the most up to date copy, avoiding time consuming and potentially expensive errors.
- Reduce Staff Time Filing Documents
Moving away from paper, your employees will spend far less time storing, retrieving and sharing documents and most of all, time looking for them.
Routine tasks which previously took minutes or even hours can now take a matter of seconds with accuracy assured.
This can have a massively positive impact in areas such as Accounts Payable and Human Resources both of whom carry out routine processes from Invoice Processing to Staff Onboarding which traditionally have been cumbersome and labour intensive, all of which can be irradicated using electronic solutions.
- Business process costs
How we store and retrieve documents can be expensive, but these can pale into insignificance in respect of the costs associated with processing them within a business.
Using a document management system can streamline and automate these processes be they in Finance, HR, Sales or Customer Service, leading to greater compliance, faster payment collection, lower purchasing costs and greater customer satisfaction, not forgetting much higher staff morale.
- Security, Disaster Recovery and Compliance Costs
Over recent years the focus has intensified around data security and with it increasingly and well publicised instances of compliance breaches attracting stiff penalties.
Using solutions such as DocuWare, will ensure your data is secure, fully backed up, compliant and only available to those with permission as standard. Additionally, full audit analytics record who has accessed the solution, what they have changed or deleted and when.
There is a great opportunity to improve the bottom line and implement efficient processes to ensure that your company is agile and responsive to the changing business environment.
Why not get in touch with one of our implementation experts and let us help you on your journey.