I have worked at several different sorts of companies over the years, and the one thing that is common amongst all of them is the amount of paperwork and documents that they generate.
It seems that regardless of whether you do a simple or complex job, as an employee you have to spend a significant portion of your day dealing with and processing all sorts of documents such as order forms, invoices, receipts, bank statements, and, of course, the notes that you write down on paper to remind you of stuff!
Did you know that, on average, employees typically spend nearly half of their working days looking for information in emails, documents, on computer systems and networks, and filing cabinets?
Then you have the time spent doing something with the information you have spent ages looking for. As you can see, a lack of document management in a business can cause a lot of lost productivity and is obviously a highly inefficient way of doing things. Here are some of the main benefits to utilising an effective document management system for your small business.
Documents are easy to find
When an important document such as a sales invoice or purchase order comes in, the person or department tasked with processing these documents will usually store them in a pile somewhere so that they can be dealt with later.
Unfortunately, it is often the case that such documents seemingly ‘disappear’ from this pile of paperwork, either by accident or due to an employee being absent-minded and forgetting that they took it away from the pile!
A document management system solves this problem because such documents are scanned as they come in and then processed immediately from that point, minimising the risk of important documents going astray.
Supplier invoices get dealt with appropriately and paid on time
When you work for a company that receives hundreds of supplier invoices like I used to, one thing you will discover is that sometimes you can be snowed under with paperwork to deal with! One of the main benefits to document management systems is that all supplier invoices are allocated to the correct project or cost code, so that they can be paid on time.
Your company becomes eco-friendly
Because you are not having to store lots of paperwork in a massive room full of filing cabinets and shelves, you not only save on space, but you are also becoming an eco-friendly organisation as a result.
As a by-product, the reduced amount of documents that you have to print out means that your business is saving on printing costs, not to mention the electricity that your power-hungry laser printers would have eaten up!
Documents can be processed in a number of ways
Many document management systems integrate with all sorts of accounts and relationship database systems, so they can be processed and stored in a number of different ways, giving you the flexibility and free to do what you want with them, whenever you want!