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.
Wouldn’t it be nice to focus on the performance of your work, rather than managing the logistics of sending, filing or creating time for document collaboration? Automated document workflows enable organizations to manage project tasks more efficiently by attaching business logic to documentation. With document workflows in place, process consistency is established, impacting productivity levels by extending the ways in which people can work with their business critical information.
Delivering paperwork from desk to desk, requesting written approval, manually searching for correspondence – all of these tasks are inefficient and time-consuming. Implementing a process automation solution can transform an existing routine from ineffective to exceptional.
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.
Every day large volumes of paperwork can become difficult to manage, often leading to data entry errors, loss of information and inconvenient work delays. This inefficient use of time, equipment and resources can result in significant financial losses for any sized business.
Many companies look to workflow software to scale up their productivity. Workflow software is comprised of a set of tools aimed at maximizing all the benefits of performing automated business processes while reducing costs. It allows individuals to automate repetitive business processes and easily follow up on uncompleted tasks. Users gain knowledge into workflow performance with in-depth visibility into what needs to be done, who is involved in the process and what will happen after an action is taken. In order to build effective automated processes, organizations can implement workflow software that will deliver the following five essential features:
As Q4 comes to an end, businesses must now take the time to review their P&Ls and finalize a suitable budget for the upcoming year. Visual numerical data instantly shows decision makers if and how a new implementation has impacted costs. However, not all business solutions deliver hard ROI figures.
Proven for paper-intensive work environments, Enterprise Content Management software allows businesses to become more efficient with the seamless ability to capture, index, process, retrieve and archive digital documents. A main goal of implementing content management solutions is to reduce costs, however increased efficiency does not always correlate to recognizable cost savings. This is, of course, without a little thought and exploration. Let’s identify common business inefficiencies where the ROI benefits of content management software come to light.
Essentially every business, regardless of industry, manages a Purchase to Pay process. For financial departments, Purchase to Pay is common knowledge, but those in other areas of business might struggle to understand this process in its entirety. Also called ‘Procure to Pay’ and more commonly referred to as P2P, Purchase to Pay is the process of events which occurs in a business between the purchase of goods and services and the payment of an invoice.
From purchase requisition to purchase order, delivery confirmation and final payment, P2P is a document-intensive cycle and involves the proper management of detailed paperwork including checks, invoices and proof of deliveries (PODs), among others. A critical cross-functional process, various people and departments are involved, making paper-based Purchase to Pay initiatives time-consuming and highly inefficient.
Paper-intensive companies turn to GlobalSearch Document Management for a number of reasons. GlobalSearch is an easy to implement, easy to use and extremely flexible solution, built to eliminate inefficient paper processes and reduce manual data management. But when searching for the right document management software, time and time again, prospective customers will ask one deal-breaking question: “Can I access files stored in the digital database from my other business applications?” With GlobalSearch, the answer is yes!
From a manufacturer’s perspective, accounts receivable begins with the arrival of a purchase order. The AR department then manually keys the purchase information into a data application and generates a packing slip to ensure the order is properly fulfilled. Also known as a pick ticket, the packing slip provides a list of all goods to be pulled from the warehouse shelves, helping the AR staff ensure that everything ordered is ready to ship.