Efficiency is all about maximizing your time and determining how much can you do in as little time as possible. When it comes to improving the efficiency of your business, many factors can contribute to where you and your employees spend their time. Small changes can mean significant gains in terms of how productive your business can be. Document management software is one tool through which your business can run more efficiently. Read on to discover three ways it can help:
Paper-based workflows cause inefficiencies in a few ways:
- They compromise the security of a business’s data because paper can be lost, stolen, or otherwise damaged. When employees cannot retrieve paper data, they either have to start over or spend time figuring out how to recreate that data.
- Moving documents through more than one touchpoint is cumbersome with paper and can present risks to the paper’s data.
- There is no automation, so repetitive tasks must be done manually.
Document management software brings these inefficient paper processes into a digital environment. It automates repetitive tasks, so employees save time, and it streamlines complex workflows. It enables your team to be as efficient as possible since documents are stored digitally and are easily accessible. Your documents remain secure, so you don’t have to worry about lost time or energy should files be lost or damaged.
Simplifying Document Retrieval
For businesses that are in any type of regulated industry such as healthcare or finance, audits are always a concern. Because these organizations have to produce documentation during audits, document management systems for businesses can greatly reduce the time spent gathering the needed material. The software categorizes documents you access through an easy-to-use interface, making document retrieval a near-instant process.
Even if you don’t have to worry about audits or regulations, your employees still waste time retrieving paper. A 2019 study from Nintex surveyed 1,000 U.S. full-time employees and found that 49% of them have trouble locating documents, 43% have trouble with document approval requests and document sharing, and 33% struggle with the document versioning. That’s a significant amount of challenges that document management software solves.
Safeguarding Against Disaster
Whether you use document management software on your premises or in the cloud, its digital storage protects against any loss during a natural disaster. Physical documents are always at risk. If there were a fire or flood, your business would be out the enormous amount of time required to recover or recreate paper documents. Electronic document storage gives your business a way to digitally preserve valuable data, so no time is lost should a disaster occur.
To truly improve efficiencies in your business, you need to cut down on time wasted in certain processes and workflows. The security, automation, and ease-of-use that comes with document management software is a surefire way to gain efficiency in any aspect of your business that requires documentation.