There continues to be a steady increase in companies turning to document management services. As the move to digital continues to grow, companies are recognizing the outdated practice of hardcopy, paper-based document storage. Benefits of document management range from cost saving to federal law compliance. We’ve outlined the top five benefits of document management for companies, large and small.
It’s a Space Saving Practice
Did you know that for the average company 50-70% of office space is devoted to filing and storing documents? The direct cost of storage space, combined with the time cost spent searching for specific documents results in thousands of dollars in lost revenue each year. By digitizing files, the need for large storage areas is all-but eliminated and the time spent looking through cabinets and boxes is replaced with just a few clicks of a mouse.
It’s All About the $$$
The higher the volume of paper documents, the higher the cost of maintaining them. Consider all the pieces and parts used to maintain hardcopy files: paper, printers, ink, filing cabinets, security measures, personnel, etc. Each of these costs can be greatly reduced by streamlining your document management process and choosing to go digital. Money saved in document management can be reassigned to further business goals.
Once your documents are uploaded to either a cloud-based or software-based document management system, they will be easily retrievable (for those with secured access) from computers, tablets and mobile devices. Having all your important documents in one, organized location, minimizes time spent searching and the risk of misplacement. In business, time is money. Document management allots more time to running your company.
Digital systems help to automate business processes including processing: invoices, orders, bank information, employee records. When automated, tasks are completed at a faster speed and productivity increases. Another benefit of automation is accuracy. Electronic data virtually eliminates errors that occur when sorting and manually inputting hundreds of pieces of data at a time.
Security for your company’s data is an important issue in today’s environment. When there is a breach in your security, your customers’ confidence is broken and your reputation is negatively affected. Document management is key to keeping your documents in a safe, secure environment. When scanned and uploaded to your specific system, you have the knowledge your data is protected. Don’t take chances with break-ins or missing files.
Apyxx Technologies will safely and securely oversee your company’s document management from beginning to end.
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