file management

3 Signs You a Need Document Management Solution

The employee surrounded by teetering stacks of paper is less common today. What with the move to digital technology, we’re all doing more online. Yet some businesses remain true to traditional processes, passing documents around the office. You could be paying for this in lost productivity or worse. Here’s a list of 3 telltale signs your business needs a document management solution.

Trouble Sign #1: Conflicting information is causing problems

You have digitized some work processes, but you have staff who still prefer to do things the old way. You wanted to be flexible, yet document control is a problem. It’s difficult to know who has the most-current copy of a file. Plus, when someone enters inaccurate data, it takes time to notice, because various documents are floating around.

A good document management system helps you organize all your files in one place, keep track of document versions and revisions, streamline your workflow, improve collaboration, and provide secure 24/7 access to your files from anywhere in the world.

Trouble Sign #2: You are losing business due to slow work processes

It may not even be this severe. Maybe you’re not actually losing that client, but your customers are not happy with the time it takes your staff to get back to them. They call with what they see as a simple question, but your team needs to hang up to find the right folder on their desk or look through filing cabinets.

Trouble Sign #3: Inefficiencies are costing your business time and money

Exchange of information is essential for business success. You could be a one-person shop doing every task. Otherwise, you need to know what is happening end-to-end in the business. When you’re relying on manual processes, it is more difficult to track:

  • Orders received;
  • Where inventory is in the supply chain;
  • When orders ship;
  • Current inventory levels;
  • What customers are saying to customer service;
  • Which customers get discounts and which don’t pay on time;
  • Where a document is within a multi-step process;
  • What employees are responsible for what tasks.

A miscommunication or lack of communication between departments wastes valuable resources. According to Google, executives waste 30% of their time looking for information. With what you’re paying top brass, you want them to do more with their valuable time.

Document Management Advantages

  • A document management system allows you to easily scan, capture, and retrieve documents. When a vendor calls, your employee can search a key phrase, email, or phone number to bring up the correct file.
  • A document management system can also streamline workflows. When sales submits a contract, underwriting can receive an alert that it’s time for them to take over. Once that’s done, the document is forwarded on to the next party. Throughout, everyone works with the same file, and all revisions and comments can be recorded and saved along the way.
  • Advanced document management software can also automate workflows to speed your processes. Additionally, the artificial intelligence engine running the software can confirm accuracy. You might configure the software to pre-populate fields. Some document management tools even check forms to confirm completion.
  • Automating document management also gives you access to data analytics. You can identify human bottlenecks and recognize employees who are particularly efficient. Monitoring documents can help identify trends, which can help with prioritizing business improvements.
  • With online document management, you can save on office space, too. Instead of keeping hard copies in file cabinets or off-site storage, digitally archive relevant materials.
  • That digital archive also supports compliance and can save your business from legal action. You don’t have to worry about being unable to provide the proper document when it’s needed. Document software systems provide a complete audit trail. The software might even generate automated notifications when sensitive information is shared.

Looking to add document management to your digital solutions? We can help your business find the best system to meet its needs. Work with our IT experts to find document management to make your work smooth and easy. Give us a call at 240-839-5300