Every business has implemented some form of document management. This often comes in the form of paper files stored in a large filing room. Of course, with modern technological advancements, there are more efficient ways to store documents. But what are the actual advantages of making the switch?
Better document management can improve productivity, reduce errors, and allow for better team collaboration. This article will help break down those advantages in detail and make it clear why businesses need to consider a better document management system to assist with their operations.
What is a Document Management System?
A modern document management system stores files digitally in a way that’s accessible and customizable. For example, certain teams or employees could be given access to specific files for collaboration. Most importantly, the documents are held centrally and available on-demand when needed. No more searching through paper files or working with out-of-date materials. Simply put, a document management system removes a lot of room for error and frustration that comes with paper or local storage.
Here are the top 5 advantages of a document management system:
1. Greater Employee Collaboration
Many businesses require several different teams to work on a single project or workflow. In a sales situation, there could be sales staff sending orders to accounts receivable, who sends approved orders to a fulfillment team, who sends confirmation back to the sales team. Along the way, multiple pairs of hands may touch the project. This type of collaboration can be notoriously inefficient, simply due to poor sharing methods. Emails get missed, messages get ignored, and communication gets forgotten. 15% of employee time is wasted on poor communication.
With a document management system, employees know where the documents are stored, can access the most current version of the document, and collaborate effectively. This dramatically reduces the chance for errors to occur and can even improve employee morale.
2. The Search is Over
How much time is wasted searching for the right document? Even when the document is found, is there confidence that the most recent version is being viewed? Between paper storage and local storage on employee devices that may have no consistent rhyme or reason between staff members, searching for a document can be an exercise in futility.
With a document management system, the organization of documents is one of the greatest features. Everyone knows where to look for documents and can be confident that the documents they find are current. In addition, these documents can be accessed from anywhere with a cloud-based system – no more need to visit the office to grab an important document.
3. Better Workflow Analysis
With a document management system, workflow analysis becomes much easier and more targeted. Where are inefficiencies occurring, and how can they be fixed? Better data and the ability to adjust quickly based on need is one of the main advantages of a document management system. Employees waste nearly half their day on tasks that aren’t related to their primary duties. Things, like searching for documents and communicating updates to other team members, can be improved or eliminated with a more effective document management system.
However, it’s very challenging to analyze and improve workflow if the ability to do so isn’t readily available. With digital workflows and document management, the bottlenecks in workflows can quickly be identified and rectified.
4. Untether the Staff
There was a time when it was essential to be near a printer or a scanner. In fact, some offices may have even given staff their own individual printers at a high cost to the business. This was the reality of doing business in years past. However, with cloud-based document management, that’s no longer a requirement to get the job done. Now, instead of being attached to the nearest printer, employees can access documents wherever they may be on whatever device they may be using. Smartphones and tablets have become some of the most popular business tools and, yet, many businesses don’t enable their staff to use these devices to their fullest extent.
With cloud-based document management, the documents go wherever the staff goes.
5. Reduced Cost
Of course, anything that makes the bottom line look nicer is a huge advantage for any business. With a document management system, businesses can significantly reduce or even eliminate their reliance on paper. This means less money spent on paper products, less money spent on printer maintenance, and less money spent on additional supplies like toner cartridges. There’s also something to be said about the positive effect on the environment. Less paper waste means a smaller environmental footprint for the business and makes environmental initiatives easier to achieve.
See the Advantages in Action
Implementing a modern document management solution offers several significant benefits for businesses. Reduced costs, better efficiency, and better employee collaboration can all have a massive impact on the overall success of the company. To see document management in action and learn how it can help your business, contact Intellinetics today.
