Time is money. It’s a phrase we’ve heard hundreds of times, but we think features are also money. They’re money in the same way that time is. By properly utilizing the time – and the features – a DMS provides businesses new funds to reallocate.
When an electronic filing system is implemented by a business, it greatly reduces the need for paper and increases the efficiency of these tasks:
Searching for documents
Managing workflow (editing, approval, etc.)
Accessing documents remotely
Archiving (scanning and digitalizing documents)
Research from AccountingWEB indicates that the average staff member in an accounting office makes 60 trips to the photocopier per week and 15 hours monthly using a printer. While some administrative processes still require paper, a DMS can reduce the number of required copies by three-quarters and completely eliminating printing with its storage and sharing features.
If we figure the average office worker makes $25 an hour, that 15 hours translates into $375 of wages spent printing documents per month. These payments, as well as the other cost accrued from printing supplies, could be utilized in areas other than clicking print on a bundle of Word documents.
To allow everyone in the company to easily find documents, document management software includes search features that utilize metatags and keywords to sort data. Document titles, headlines, and document text can all be searched and filed in the right DMS.
Files that still require scanning can take advantage of the metadata and keywords feature because of optical character recognition technology (OCR), which deciphers text in a scanned document into text the software can recognize.
These metadata techniques can improve customer service and businesses’ reputations, as they allow representatives to answer questions quickly and effectively. Inquiries that may have previously taken months to be addressed can be answered in a matter of minutes by using the document control software search feature.
As the metadata and search features show, electronic document management software is about optimizing your workflows and business’ processes using features exclusive to a DMS. Those who choose to implement a system make their office an efficient one, even when all employees may not be on site. These features allow businesses the opportunity to standardize document structure, enhance collaboration through online editing, and automatically destroy unnecessary or sensitive documents once they are no longer relevant.
Implementing effective document management software increases efficiency and reduces headaches for businesses, but once they realize the return they’re making on the investment, they become even happier with their decision.
To get more information on enterprise document management best practices, visit Doccept.com.
Research referenced in this article was carried out and reported by AccountingWEB.