document management is a vital part of any company’s operations, and also reduces costs and optimises working capital. Solutions to document processing can be frustrating when the provider turns out to be unpunctual, or have hidden costs. With a capable provider however, routine and necessary procedures such as invoice processing are improved.
The way to think of the situation is not as a problem to be overcome, but as potential waiting to be utilised. These assets can be gathered via the available technologies into substantial tangible and consequent benefits.
Tangible benefits of document management are many, and include the reduction of space used for paper storage, saving you commercial property costs. Integrating documentation into management systems obviates the need to store large amounts of paper documentation on site, allowing it to be stored if necessary in less expensive locations – and protects data from on-paper vulnerability to theft, fire, flood and vandalism. DMS archiving also preserves important paper documents from continual and damaging handling.
What is more, as well as ensuring higher security, these systems make data retrieval more flexible and intuitive, and save time as accessing data does not even mean leaving one’s desk. Multiple indexing can be operated simultaneously, search functions are rapid and can deploy a full text search, unlike paper or microfilm. Lost files are a thing of the past, as all documents are centrally stored.
As far as regulations and requirements are concerned, DMS security and control tracks the validity of stored files and reduces the risk of withdrawn licenses and even legal action, by demonstrating regulatory compliance. Due to the central control of invoice processing, DMS also greatly improves cash flow. Less tangible benefits include improved day-to-day operations internally, increasing the amount of information accessible to staff. This also has a beneficial effect on customer service, allowing accurate, quick and professional response. The ability to distribute information electronically saves time and fine-tunes audience targeting, lending a competitive edge to your organisation over others not using DMS. For those that are, it removes a competitive disadvantage.
Finally, document management opens up the pool of information which would otherwise be locked in individual’s head or separate email exchanges – or at best, ‘round robin’ emails. Once this information undergoes document processing and is utilised as shareable and accessible, its value increases and so does your employees’ ability to solve questions and tasks. Using invoice processing keeps all your financial transactions scheduled and trackable – all in all, the simplest and smartest business solution.
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