As you know, documents are an incredibly important piece of the business process, but if your organization is still utilizing a manual paper system it’s costing you a tremendous amount of wasted time and money. This is because the price of paper seems to increase daily in today’s economic climate. In addition, the cost to store all those paper documents is escalating. Even if you own or operate a small business, the expense of a paper-based document system is negatively affecting your bottom line. The good news is that there is a simple solution.
By implementing an electronic document management system, you will save a significant amount of money each year. This implementation is also a lot more cost effective than you think. So without further ado, here are the top three (3) ways document management reduces costs.
Significantly Lowers Both Storage Equipment and Supply Costs
Updating from a manual paper-based system to a digital document management system eliminates the need to purchase costly storage equipment and other related supplies. For example, you will no longer need filing cabinets, printers, files, paper, ink, toner, and other maintenance related costs. Investing in technology is a good thing. Investing in physical filing and storage space is a waste of resources.
Printing and Copying Expenses
Did you know that utilizing digital records instead of paper documents eliminates the need of making multiple copies of the same document? This holds true when working with customers/clients, inter-office distribution, and/or in-house storage. With an electronic document management system in place, the primary copies of each document are created in centralized location where they can be accessed by anyone with authorization, saving both time and money.
Streamlines the Overall Business Process
Typically speaking, electronic document management systems include an automated workflow process and access control. These much-needed features provide business organizations with the ability to completely streamline their processes and procedures such as accounting, customer services, human resources, and sales to name a few. In conjunction, the workflow optimization results in an increase in work output, quicker payment collection, lower production costs, and lower purchasing costs.
It also goes a long way in improving a higher level of customer satisfaction and increases employee retention. The bottom line is that an efficient electronic document management system increases productivity and lowers overhead. It creates a higher profit margin, reduces human error, and saves your organization both time and money.
Please request a no-cost 15-minute assessment today for more information about the many ways document management reduces costs, and how our digital solutions can help your organization. NeoLedge is a well-established, yet fast growing electronic document management company that has a global reach. The business was founded in France over 25 years ago by a team of entrepreneurs that genuinely believe innovation is a living and breathing process that pushes us to find better ways to help organizations perform.
That principal has served us well through the years, as we are now a recognized throughout the world as a groundbreaking leader in the cloud-based software industry. We are incredibly proud of the fact that we have guided and continue to guide hundreds of organizations through their digital transformation. Our company has also supported thousands of daily users, and millions of managed documents in both the public and private sectors.