Here are 5 key areas in which your company will experience savings with the help of a document management system:
Time – By working with digital documents, rather than paper ones, you won’t waste time manually filing and retrieving documents or searching for lost or missing documents. Instead your time can be spent more productively. Electronic documents can also be distributed in a fraction of the time as their paper counterparts, speeding up your customer service processes.
Money –The cost of physical storage for paper documents adds up, including filing cabinets, off-site storage, and perhaps the biggest expense, the manpower to manually file and retrieve paper documents. Additional savings comes from reducing the amount of postage, ink/toner, and paper your business uses. Not to mention the costs associated with lost or missing documents, the replacement of which is estimated at $250 per document.
Space – Electronic documents take up a fraction of the space that paper versions do. Off-site storage becomes unnecessary and the space once taken up by filing cabinets can be put to better use.
Legal Woes – Document management provides access controls, protecting sensitive or classified information by limiting who can access it. Audit trails track everyone who views and edits your documents. These measures help businesses ensure regulatory compliance.
Your Business – Yes, most important of all, a document management system can help save your business—from going out of business. Paper files and records can be irretrievably lost due to corporate espionage, fire, flooding, or natural disaster. Thanks to disaster recovery, your company can literally rise from the ashes and get back to business fast.
Learn more about Document Management Solutions for your business from Modern Office Methods.