A common sense approach to managing paper and manual processes
Here are some interesting statistics about how paper is used in a typical organization:
Play The Cards You're Dealt Paper can be an extraordinarily efficient means of gathering and communicating information. Whether it is an invoice, a field report or claim documentation, it highly unlikely that paper will be disappearing any time soon. The issue with paper, though, is not what is recorded on it, but, the difficulty of finding the critical information on it once it is created. The paper document is now the ultimate silo, and is not subject to even the basic tenets of backup and storage. Once it is lost, it is lost forever, and is very expensive to recreate (up to $120 per document!)
Document Management Defined
A document management solution enables organizations to both replace paper based processes with electronic processes as well as better manage the paper that they have. The elements of a document management solution include:
- Capture – Ingesting and classifying documents
- Workflow – Creating electronic business rules to manage documents
- Governance – What to do with the documents once they are processed
In many cases, you may already have many of the tools in place to create a document management solution in your organization.
What you may need is some expertise to make these tools operate more efficiently.
Return On Investment
Big and small organizations that have document management solution have realized the following measurable benefits:
- Reduced cycle times – Less effort to accomplish the same goal
- Improved responsiveness – Less time to find customer, supplier or compliance documentation in response to a specific request
- Lower costs – Reduce or eliminate document recreation (searching and printing), transportation (i.e. FedEx) and storage (box storage) costs.
- Better collaboration – Enable sharing across customers, departments and group
15 Minutes To Spare? Click the following link to find out more information about how managing paper can be costing you time and money[link]. It is a short white paper that both demonstrates why paper is going to be here, how it is creating inefficiencies, and what a document management solution can provide. Spending 15 minutes to learn more can eventually save you thousands or millions in savings.