How A Document Management System Gives You An Edge
For far too long, many companies have allowed poorly managed information to hold them back. The average employee spends 30 to 40 percent of their time looking through email, paper documents, shared hard disks and filing cabinets trying to find information they need to complete their tasks.
What if all those wasted hours could instead go toward making your company more competitive? No wonder forward-looking companies and organizations are turning to digital documents and enterprise content management to gain an edge in the global marketplace.
4 Key Advantages
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1. Greater efficiency and productivity
Upgrading your current paper-based filing system to a digital solution gives your employees streamlined access to business documents and – in addition - provides for a smooth and rapid information flow. Instead of searching for documents, your staff is free to focus on higher-level tasks and making good decisions that boost your bottom line. Did you know? Without effective enterprise content management, an employee spends an average of 18 minutes searching for a document.
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2.Lower costs for document storage and supplies
Creating and storing paper documents is expensive. A four-drawer file cabinet takes up lots of floor space and costs $1,500 per year; maintaining a dozen of these cabinets would require hiring an additional employee. Switching to a digital document management system delivers real savings on document storage, as well as copying, printing, shipping and personnel. Did you know? Paper accumulates annually at a rate of 22 percent for the average business, which means it doubles in volume every 3.3 years.
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3.Robust data security and automated compliance
A document management system helps you control access to sensitive information and enforce security measures. The system also helps ensure compliance with industry and governmental regulations by automating your financial records management and retention processes. Did you know? At any given moment, up to 5 percent of an organization’s files are currently lost or mislaid.
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4.Business continuity
In addition, document management makes sure that you continue to operate your business even in an event of a fire or flood. Documents can be easily replicated and stored off-line or in the cloud as a perfect disaster recovery solution. Did you know? If their paper-based records were destroyed in a natural disaster, 7 out 10 businesses would fail within 3 weeks.