Virtually every company relies on selling. Whether products or services - and sometimes both - purchase payments are the lifeblood that keeps business pumping. But what is often overlooked is how important back-end activities are to business growth and success. Accounting departments oversee purchasing responsibilities, and without efficient, accurate bookkeeping, business would not survive. If collections weren't accurately recorded, it would look like they never happened at all. The key to creating a productive Accounting department is to develop a strategy that allows staff to route, track and review business-critical data easily, efficiently, and with minimal resources.
Every organization deals with paperwork, which is constantly slowing down the flow of business information and productivity. We all know that by implementing document management software, companies can become paperless by scanning, storing and retrieving documents for streamlined processing. Unfortunately, for some organizations, a simple document management storage and retrieval solution just isn’t enough. While the basics of a document management system are essential to any organization, imagine the opportunities when given the ability to also capture, extract and share critical information, while automating and routing documents and their data.
Topics: ROI, Compliance, Document Management Software, Digital Storage, Efficiency, Automation, Document Workflow, Integration, Collaboration, Mobile Document Management, OCR, Productivity, Enterprise Content Management, Legal Industry, Capture
In the U.S. alone, businesses spend more than $120 billion a year on printed forms, most of which outdate themselves within three months’ time. When you look around your office are papers starting to pile up? Is it becoming impossible to find what you’re looking for? Now is the time to clean up the clutter and tackle your paper-based business challenges with a digital solution. Doing so can drastically increase efficiency while providing sizeable monetary savings for your organization.
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.
From student enrollment to transfer applications, parent-teacher conferences and payroll, the education system distributes large quantities of documents every day. Whether a student, teacher, or faculty member, all are affected by the heavy paper trails existing in school districts from elementary to high school, college and beyond. The management of this paperwork is critical to ensuring a respectable reputable educational environment, and it must be organized efficiently.
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.
CMS Wire research predicts that from 2010 to 2020, there will be a 50x growth in digital content, proving that digital innovation is rapidly expanding, and in order for businesses to stay competitive, they need to rethink their document management strategy. This new approach will make it easier for organizations to adjust within the fast evolving technology world.
Accounts Payable (AP) is arguably one of the most critical departments of any company, regardless of industry. Accounts Payable processes often involve paper-intensive tasks including invoice processing, three-way matching and the overall management of payment records. Working with paper-based files and invoices can cause AP employees to capture data inefficiently and incorrectly. Paper records can also build up quickly, causing data entry processes to become very cumbersome, especially if your company has a large number of invoices.
It's a challenge for companies to keep up with the paperwork and electronic files that are routed throughout an office every day. Since keeping things organized is critical for success, virtually any business could benefit from document management software. Truly any business! If your company handles invoices, forms, correspondence, emails, personnel documents, client files or any other type of data, then implementing document management software can allow your business to run more productively and efficiently.
Utilizing document management software is a great way to organize all of your paper and digital files in a central location, where everyone with the appropriate permissions, has easy access to managing critical business information. But contrary to its name, that’s not all that document management can do for an organization.
All over the pharmaceutical industry, both businesses and patients depend heavily on the integrity and confidentiality of archived records. In the highly regulated world of drug manufacturers, properly preserving documentation is a critical requirement for business continuity. As technology continues to advance, medical corporations need to embrace document management solutions, eSignature capabilities and the benefits of automating workflow processes to help ensure the wellbeing of patients, business and the pharmaceutical industry.