With 15.3 million tweets in its first week, Pokémon GO has taken the world by storm as the latest gaming phenomenon. Pokémon GO's mixture of gaming and reality allows players to travel between the real world and the virtual world, capturing colorful critters while battling opponents. I know what you’re thinking – what could this possibly have to do with Enterprise Content Management? The idea behind this game is where we see trends that align with advanced Capture Automation and Business Process Management solutions. Let’s explore Pokémon GO and how it can be used to help understand the benefits of document technology:
Moving your business documents to a paperless format can be challenging. But by embracing new document technologies and digital business practices, any company can benefit from paperless solutions by saving time and money while improving business efficiency.
The success of a company relies heavily on efficiency and productivity. Replacing the manual management of business content with automated solutions creates a streamlined workflow of processes, increasing production and positively impacting a company’s bottom line.
Even within the world of rapid technology advancement, paper isn’t going away anytime soon. This is especially true in Accounts Payable (AP) departments. While the amount of invoices received differs based on company size, number of vendors and industry, AIIM research finds that invoices represent around 77% of business documents. A typical AP employee spends on average 30-40% of their time mining invoices for information, proving that manual data processing is an ineffective use of time and resources.
What is the starting point for your business processes? Is it sifting through a filing cabinet for paperwork? Or is it at your document management system, where you can digitally search and retrieve the information that is imperative for your business to function. While this is an acceptable starting point, a good foundation for creating efficient business processes begins with capture automation.
Did you know that a typical employee spends 40% of their time looking for information locked in email, printed documents, shared hard disks and filing cabinets? (AIIM Survey 2016) We can all agree that the main goal for businesses of any size, in any industry, is to drive revenue and reduce costs.
How much time do you spend each day manually typing in data? Think about it. It could take hours, even days to process documents and sometimes even longer to find them. Document management software uses the power of automation to simplify these daily tasks, significantly reducing the time it would normally take to manually process documents. It allows employees to streamline administrative responsibilities, like organizing and filing papers, while providing more time to focus on higher priorities.
The trend to go paperless is growing. According to CMS Wire research paper consumption is decreasing in 44% of organizations compared to 35% three years ago, and the average amount of paper storage in offices is currently13.5%, down from 15.3% in 2011. Converting to a paperless process with document management software will keep your company well organized and efficient, benefiting your overall business strategy.
On average, employees spend 50% of their time searching for information while taking an average of 18 minutes to locate a document. Wouldn’t it be so much easier – and less stressful – if you didn’t have to search through stacks of papers to find what you’re looking for? With this logic, the decision to implement document management software should be a simple one. The hard part is deciding where to start. In order to gain immediate benefits of document management software, it’s important to determine the best starting point for your company.
All companies face challenges when dealing with paperwork, slowing down the flow of business information and productivity. The solution? Document management software is a tool that can organize and store your documents, eliminating paper-based file systems. However, in order to get the most out of a document management software investment, you need to understand that it’s much more than just digital file storage.