In today's increasingly competitive world, it’s essential to measure daily productivity. To keep pace, your business needs to run as efficiently as possible, especially when time and resources are limited. It is up to you to take advantage of the ideal opportunity to work smarter, not harder.
Speed and accuracy are differentiators in today's increasingly information-intensive world. Because of this, document capture has transformed into so much more than just scanning documents. Today, document capture capabilities have become complex, surpassing simple process automation and standard workflow actions. The fundamental shift in document capture has led to businesses incorporating it in their daily processes.
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.
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.
93% of companies that lost their data center for 10 days or more due to a disaster, filed for bankruptcy within one year of disaster. What would you do if all of your business documents were suddenly gone? Think of the aftermath. How would you recover? Most organizations fail to have an acceptable recovery plan in place because they do not recognize the need for it. But having a disaster recovery strategy is critical to ensure business functions can continue despite an unfortunate incident.
Many organizations still rely on filing cabinets to store and protect their most sensitive workforce 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.
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.
Maintaining a paper filing system is physically demanding, creating unnecessary stress for staff members. A sophisticated document management system that utilizes advanced software to store and manage important documents is the ideal solution for busy accounting departments. In addition to reducing paper waste substantially, document management systems help businesses reduce costs and boost productivity by:
- Streamlining operations
- Eliminating many manual processes
- Reducing photocopies by up to 75%
- Saving time
- Improving accuracy on approvals
- Reducing human errors
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.
Increasingly more businesses are transitioning into high-tech office environments with digital kiosks, collaborative workspaces and progressive amenities. Filing cabinets are vanishing as companies worldwide are taking business digital. The office of the future is paperless, and employers maintaining their documents electronically are realizing storage efficiencies, improved accessibility and workflow at drastically lower costs.
Moving a business paperless saves time and money while improving productivity, security and collaboration. The easiest way to get started is by digitizing personnel documents within the Human Resources department. Doing so allows the immediate benefits of paperless efficiency to be realized company-wide. Let technology do the work for you and, with these five tips, soon your company can experience the impacts of going digital.