Today more than ever before, the efficiency at which information flows through a business dictates their continued growth and success. Losing track of an order or forgetting to follow up on a lead can cause losses in revenue, reputational damage, or worse, losing a client altogether. It’s why every company still relies on processing documents and records during their daily workflows. If the company currently depends on manual document management procedures, the risk of an error creeping into the process remains high.
As every organization is unique, finding ways to achieve greater efficiencies and cost savings may appear to be a difficult task. However, with a modern Document Management System (DMS), the company can streamline its processes and make staff more productive by implementing an electronic solution. Adopting a DMS for managing all information flowing through the company also brings a variety of additional benefits to the organization.
What is a DMS Solution
Whether it’s a formal system or just the way the company has done things in the past, they likely already use some form of a physical document management system. The way the company receives, processes, files, and retrieves documents during their daily workflows is already a DMS. The larger the organization, the more likely they are to have formalized the process, but without an electronic system to help employees, it can be costing the company both time and money.
Adopting an electronic DMS will speed up processing cycles and improve the turnaround times by creating digital copies of all their documents. Walking documents from desk to desk add a lot of overhead to an employee’s workflow. With a DMS, staff can capture incoming records and route them to the relevant department quickly and easily.
The Primary Benefits a Company Gains from a DMS
Every company needs to look for new ways of doing things to remain competitive in a connected world. One of the best ways a company can achieve cost savings is by implementing a digital solution for document and record management. Not only does a DMS solution allow the company to regain control over wasteful practices, but it also provides them with an opportunity to review existing processes and find new efficiencies in the business workflows.
Saving on Operational Costs
Physical documents can take up a lot of space in the office, and the cost of commercial real estate continues to increase every year. With a DMS, the company can reduce the amount of physical space dedicated to retaining documents. If the company receives a physical document from an external source, it can scan and file the document in its electronic library. For any records they have to keep for legal reasons, the company can opt to archive them offsite at a less expensive facility.
Electronic libraries also help the company to reduce the cost of demonstrable compliance. The rising cost of compliance with new laws relating to information security is a significant concern for most organizations. California and Nevada businesses need to comply with many state and federal laws if they process or manage any sensitive information. An electronic DMS solution tracks every document, ensures access controls are in place, and keeps a complete history of everyone who’s accessed it during its lifecycle.
Improved Office Productivity and Information Security
A DMS usually comes with a customizable electronic workflow engine to help route and manage documents through the different processing requirements. Staff can quickly send a new document to another department or resource with predefined workflows, keeping everyone productive during the process. An electronic library also helps staff promptly search and retrieve a specific document, further improving their efficiency.
Additionally, a DMS provides greater access control on the document level. Using the company’s access models, the system is configurable to prevent the unauthorized disclosure of the company’s sensitive documents. The workflow will also record any comments and allow only authorized persons to make decisions on how to handle any problems they encounter. With greater oversight and the ability to investigate any incidents, the company can streamline its entire information management process.
Digitize Company Operational Workflows with Smile and a Document Management System
Notwithstanding any of the above, a DMS also improves collaboration in the organization and provides more exceptional disaster recovery capabilities. As new documents enter the system, staff can route them for review and ask for detailed comments from Subject Matter Experts immediately. With electronic copies of all the documents, the company can back up and restore their library if any catastrophic event does occur.
The latest DMS solutions come with the flexibility that ensures any organization can benefit from the system. Smile Business Products Inc. delivers a variety of solutions that help organizations regain control over their information management workflows. Since 1997, Smile has served California and Nevada’s companies to achieve greater cost savings and find innovative solutions to operational problems.
For a detailed assessment of your company’s DMS requirements, reach out and speak to one of Smile’s friendly consultants today.