Many accounts payable (AP) processes utilize outdated and inefficient techniques for data capture and distribution. According to a study by the Aberdeen Group, 50% of accounting organizations surveyed have yet to adopt an automated AP solution, with a third of those organizations receiving roughly 25,000 invoices per month! Whether they are aware or not, manually processing business critical AP documents can lead to a number of business challenges, from repetitive data entry, to missed deadlines, and costly double payments.
Enterprise Content Management (ECM) has been a longtime proven necessity for businesses looking to establish more efficient document processes. Also known as document management, ECM has evolved overtime, and continues to do so as a number of new trends have emerged. But behind each new development is the same theme - taking the comfortability of the desktop to the web.
Many organizations still rely on filing cabinets to store and protect their most sensitive workplace records. However, today’s office space is being used more resourcefully, and bulky file cabinets pose more problems than real estate. From accessibility to productivity, old storage methods like filing cabinets can drastically minimize an organization’s efficiency, time and cost savings. Are you looking to improve records management processes in your business? Start by ditching those filing cabinets for a digital solution.
Topics: Paperless Office, Document Management Software, Digital Storage, Efficiency, Document Workflow, Collaboration, Mobile Document Management, Security, Productivity, Enterprise Content Management
On average, with every new year in business, organizational content increases by 200% (Forrester Research). Although the popularity of digital documents continues to grow, paper is still dominant in business. With documentation moving between departments and file cabinets, not having control or a strong document management strategy in place could lead to processing challenges and a heavy increase in costs.
Regardless of the industry or size of your organization, there are many reasons why Enterprise Content Management (ECM) software is important to your business. By implementing an ECM system, you can streamline all of your day-to-day document demands. From efficiency, security and collaboration, smart content management will allow you to improve each, so you can spend less time sorting through documents and more time doing business.
According to the Association for Information and Image Management (AIIM), on average, businesses spend $20 to file a single document. It then costs an additional $220 to search for and replace each document that is not filed properly. The price of these simple administrative tasks is just the tip of the iceberg when it comes to office inefficiencies. From slow processing, to difficulty retrieving files, incomplete data and duplicate work, it is common paper-based problems like these that can severely impact company operations.
Topics: Paperless Office, Compliance, Document Management Software, Document Workflow, Integration, Collaboration, Mobile Document Management, Cloud, Enterprise Content Management, Business Continuity
Documents, data, decisions, oh my! It’s no wonder why paper-driven processes are becoming increasingly overwhelming for businesses to manage. 47% of organizations admit the need to hold something physically remains the primary reason for continued paper usage. Yet the demand for paperless communications is rapidly increasing for 65% of those same survey respondents. That’s why a digital transformation could be the solution for you. Not only will a digital document strategy enhance the security of your files, but you will gain immediate access to documents, improving collaboration, and providing greater insight into everyday activities.
Topics: Paperless Office, Document Management Software, Digital Storage, Efficiency, Automation, Document Workflow, Collaboration, Mobile Document Management, Customer Service, Security, Enterprise Content Management, Business Continuity, Capture
Marketing Communications Manager at Square 9, Lauren Ford, participated in a guest blog post for a digital issue of The Imaging Channel. From effective marketing tools to a solutions-led sales approach, Ford discusses the power of workflow automation and how to use the power of the web to deliver visibility, data and direction to your business processes.
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
Now that the NFL season is in full swing, fantasy football platforms like DraftKings and FanDuel are once again flooding the advertising scene. Annoying? You bet. But these fantasy juggernauts continue to break records, with over 4 million entries each week, and the numbers steadily grow every year.