Whether your company manages 100 or over 100,000 business documents daily, there are sure to be challenges with manual processing. As multi-formatted documents are received, staff across various departments must quickly and accurately process their data. According to AIIM, on average, 44% of documents arrive as electronic records, however 59% of these will end up as a paper copy. This may include PDFs, faxes, emails, Word documents and Excel spreadsheets. Not only are processing times and accuracy considerable factors for a more efficient environment, but paper costs rise dramatically for unnecessary printing of digital documents.
Wouldn’t it be great to have one secure electronic repository that could streamline the processing of all business documents, regardless of file format? Well you’re in luck! Businesses of all sizes and industries can serve a rewarding process management strategy with document management software.
Document management software, also known as Enterprise Content Management (ECM) software, provides the tools to streamline business workflow by simplifying the capture, retrieval and distribution of data. Best of all, ECM software is customizable to fit your unique process needs, while integrating with unlimited business applications from QuickBooks to Microsoft Dynamics, Salesforce, and more! Let’s explore the basics of document management software and how it works!
- Step 1: Capture Documents From Anywhere
On average 35% of scanned documents are 100% born digital. This means that they were unchanged from when the document was printed to when it was scanned. This is a time-consuming, costly, and unnecessary step to process data. ECM software delivers the flexibility to automatically gather document information from virtually any source, including multifunctional office printers, email servers, a watched network directory, or even a desktop scanner. With powerful capture automation capabilities, your documents are available for staff processing as soon as they are received – no more bottlenecks.
- Step 2: Index Your Documents Into A Central Location
ECM software delivers KeyFree Indexing tools that eliminate manual data entry and the inaccuracies of missed keystrokes. By digitally indexing your documents within a browser-based ECM solution, high value information is automatically stored and available within a central location. This allows staff to then extract critical data as needed, view and edit documents from anywhere, search and retrieve content, and secure sensitive information effortlessly.
- Step 3: Search and Retrieve Documents Effortlessly
According to AIIM, 61% of organizations say their content is held on non-ECM systems, making it difficult to search and maintain records. With advanced search functionality, ECM software allows users to find any record instantly by simply searching for a keyword or phrase. This may include customer name, invoice number, address, barcode number and more. ECM provides the information you need, the moment you need it.
- Step 4: Automatically Route Your Documents
With automated workflow processes, routing documents is made easy with ECM software. Users can take advantage of automated email notifications, letting them know when a document has been captured or reviewed, and is ready for their approval. Plus, with audit trail visibility and real time analytics, no document is lost in the workflow process. Administrators can view who accessed which document, when they accessed it, and any changes that were made.
- Step 5: Implement ECM in Every Department
55% percent of AIIM survey respondents cite costs and productivity as their biggest driver for a digital transformation solution. Luckily, you can easily customize ECM software for all of your business needs in areas like accounts payable automation, accounts receivable processing, human resources onboarding, and financial administration. With ECM in every department, your business can drive increased productivity, ensure business continuity, and build more effective collaboration.
AIIM reports that 46% of organizations are considering removing paper as the single biggest productivity improvement for their business processes. Will you join the digital movement? With an intuitive web-based designer, Square 9’s award-winning document management solution will enable your business to eliminate paper processes, while streamlining the flow of information. Get started by contacting Square 9 today!