If your business does not have a document management system, you are losing time and efficiency. It can costs hundreds of dollars to manage a document over its lifetime, and even more if the document is lost, and that’s just one document. Properly managing those documents will help your business save money and run efficiently, and here’s how.
Organizing Multiple Documents
One vendor order alone can generate a paper invoice, email confirmation, digital receipt, paper delivery acceptance form and even email communication. Some of those documents may end up in an inbox, while others may be tossed in a cabinet and some may be filed properly. Document management, especially digital document management, ensures that every document ends up where it should be and can be retrieved when needed.
Sharing Documents Safely
Sometimes documents need to be accessible to more than one department. The HR department may need to see it, while the shipping and receiving department may also need access to it. A quality document management system will organize files and documents so that they can be accessed safely and quickly by a variety of departments without the risk of getting lost in the shuffle. Through digital databases or barcode tracking, the business will always know where a particular file or document is.
Streamlined Business Practices
Large businesses spend a tremendous amount of time and money working with their documents. Paying someone to organize files or retrieve documents is not cost-effective. Estimates indicate that the average worker in a large business will spend 40 percent of his or her time searching for documents, both paper and digital.
With a logical records management system, that time an be cut significantly. Searching for emails and digging through filing cabinets will no longer feel like looking for a needle in a haystack. Instead, workers will be able to use the system to find documents in an efficient manner, saving both time and money.
Document management helps keep documents secure. Files can be stored in a secure filing system with access carefully controlled or they can be stored digitally with encryption and password security. Either way, the risk that someone who is not supposed to see a document is lowered significantly.
Large businesses need to find ways to cut costs and increase efficiency without sacrificing the integrity of their business operations. That’s where document management can help. If your business is in need of document management services, contact FileSolve today for a custom records management solution.