Introduction to how digitization saves money, eliminates risk and optimizes efficiency at various levels.
Every growing business needs to manage a growing workload and reduce tedious, manual tasks, but a smart business manager seeks a solution that can capture significant ROI also. To help make the right choice for a smart solution, let’s walk through a typical day and determine your savings for five major business areas, to see if going paperless saves you money, time and effort for your business.
Irrespective of the industry and size, every organization develops and implements processes that help them successfully deliver customer satisfaction. These processes move information from source, via several touchpoints, to its destination. In most cases, processes are only as good as the people involved in it. While having a dedicated, motivated and loyal workforce means that processes work “efficiently”, manual and paper-based processes tend to become a serious drag on both efficiency and profitability when the business environment changes. Unfortunately, the per-unit price of paper transactions is so small that it goes unnoticed until it is consolidated – monitored & measured – and cancelled. A worldwide survey conducted by IDC showed a 21% loss of organizational productivity accounted for by manual versus digital document management.
The COVID-19 pandemic forced us all to find new ways of working, interacting and living. Managing digital information has become a key component of our collective effort to tackle the virus and support new ways of living and working. While many well-prepared organizations were digitally ready to manage information, many workplaces struggled to meet task turnaround times with an adverse effect on profits. The pandemic has toppled the notions of an office being a brick-and-mortar structure, approvals requiring a human signature and accessing information stored in filing racks and storage rooms. As industries redesign organizational culture, there is an amazing opportunity to shed the old and use-tailor-made digital solutions.
The right document management system (DMS) for your business not only overcomes delays and errors in processes, it also saves time and money significantly. Whether it is paper-heavy invoice processing, procurement, sales, marketing, finance or any other business unit in your organization, digitization can elevate performance and productivity.