A document management system that involves document scanning and conversion of key business documents into digital files for archiving, retrieval and distribution straight from the computer is a proven cost-effective way to reduce operating expenses rapidly. It can be very focused, targeting your mainly paper intensive processes, for example accounts payable, proof-of-delivery, and human resources. These are fields where there are often paper jams that block work procedures, decrease employee efficiency and add to operating expenses.
A document scanning system that automates hand made tasks and gets rid of time-consuming procedures will provide for a more efficient business processes and let employees to work more efficiently and productively. According to the McKinsey September 2008 Quarterly Report, one of the critical business goals during a downturn is getting more “bang for the buck” from workers, and concludes that IT is necessary to meeting this objective.
Research shows that professionals spend 5- 15 percent of their time reading information, however up to 50 percent searching for it. By introducing a digital imaging and workflow automation system, a business enables its employees to focus on their core business tasks. Overtime can be avoided with automated processes, and hiring temporary filing aid is no longer necessary.
With a “paperless office,” the significant cost of copying and filing documents is slashed- and so is the time spent looking for misplaced ones. That’s another major cost saving: on average, companies spend $20 in labor to file a document, $120 to locate a misfiled one, and $220 to reproduce a lost one! Considering that 7.5 percent of all documents get lost and 3 percent of the remainder get misfiled, those savings mount up fast.
if paper documents are converted into digital images, there is no longer the requirement for photocopying and faxing. The expenses associated with this- including paper, toners, print cartridges, and equipment maintenance, are also eliminated. And because digitized documents may be emailed quickly and easily, the cost for shipping, mailing, and courier services are dramatically reduced. With a courier service estimate from $8 to $15 per package, there is an abundance of money as well as time to be saved.
Storage and office space operating costs also decrease with electronic document management. Up to 99% of office space used by filing cabinets and boxes can be freed and used for revenue producing services. Document warehousing and storage is no more necessary, as key business documents are always obtainable directly from the computer.
A document management system can be introduced quickly and with no trouble with no capital outlay, and produce a disproportionate worth in a short period of time. Actually, investing in this type of technology not only enhances efficiency but also creates income growth that generates more profit than straight cost reductions. Your commerce can operate more competitively and serve its customers better- key factors in surviving a recession.
In this economic environment, it is efficient to take a close look at your end-to-end business tasks. Examine where you can improve procedures, enhance the customer experience, and reduce waste. As soon as you have recognized those areas of opportunity, a digital imaging system as a component of the document management system will help you achieve your targets quickly and cost-effectively. Replacing outdated manual processes will help get rid of redundancies and bottlenecks, improve employee productivity, and your end result.
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