As we approach 2015, we can reflect on the business decisions we made that helped or hindered performance in 2014. If you are like most businesses, you are already planning your strategy for the next year.
“Unsurprisingly, the number one challenge for organizations today is managing paper based documents.” ~The Aberdeen Group
There are a number of ways to improve your company’s performance, and one of the most prudent is by improving your document management process.
Perhaps you are still using paper-only processes for all of your departments, or you have adopted a hybrid approach – some paper, some digital, or maybe an intranet to store all of those documents.
Whatever the case, there is a better way to improve your company performance across all departments – reducing costs, increasing efficiency and enhancing internal communications – and with a system that can be up and running almost as fast as you can say “Happy New Year!”
Document management systems allow you to scan, upload, search, retrieve, share and archive documents and enable all departments to easily access all relevant company data on one platform. Employees can access content any time, anywhere, and can reduce paper, printing and shipping costs.
With Google-like search capabilities, employees can get the information they need to get the job done in a matter of a few seconds versus waiting hours or days for a fax, email or a printed document.
According to a recent research report by the Aberdeen Group, Best-in-Class organizations are “44% more likely than all others to have integrated business applications that serve as a complete and auditable system of record…information is combined and reconciled to provide decision-makers with a holistic version of the truth.”
With companies expanding their geographic reach, it can be increasingly difficult to coordinate data, generate reports and analyze findings with company data on multiple systems, or across multiple locations. DMS can ensure everyone has access to the same information in order to make the best decisions.
Not only that – many DMS systems have built in workflow tools to help streamline time-consuming processes and ensure accountability and timeliness.
Even if you have a home grown document management system in place, you need to ensure one thing – can it scale with you as you grow? Many “in-house” systems become antiquated if system upgrades aren’t appropriately managed.
Cloud-based DMS adoption has increased because there’s generally no hardware or software maintenance cost, are easily accessible from anywhere, and can deliver increased capacity no matter how large your company grows, or where employees are physically located.
Cloud-based systems are often easy enough to manage without the cost of full time IT staff and can provide seamless product updates and support via the web – and they are usually easier and quicker to implement.
With the growth and prevalence of cloud-based technologies, it makes sense to do your research and find the one that is right for your business and can address your needs moving forward.
Solid Return on Investment
DMS is one area where companies consistently see a positive ROI – regardless of department. From AP and AR to Sales and Marketing, Operations and Customer Service, DMS can improve data access, efficiency and reliability across the enterprise.
For the past 15 years, Nucleus Research has been tracking and reporting on the content management space. Its latest Research Note Nucleus reveals that companies investing in modern Enterprise Content Management solutions reap a return on investment of $7.50 for every dollar invested.
As you look to improve your business outcomes in 2015, consider technology that can not only help with efficiency and communication, but can do so without the need for large upfront investments. No matter your company size or business goals, DMS can get you there with proven ROI’s in industries such as healthcare, legal, manufacturing, education, human resources, finance and government.
Look no further than your laptop. Get started on improving company performance today.
Want to get started on improving your company performance now? Download our brief: Integrating Automated AP Processing with MS Dynamics GP Makes “Cents” for Manufacturing.