Electronic document management programs are a great investment because they can help businesses increase work efficiency and reduce lag times among suppliers and clients. Even though paper documents are becoming more dated, the sooner companies implement these solutions, the better off their staff will be in the long run.
Even though paperless office solutions are a great way to improve workflow, some business owners are afraid to make the switch because they assume that these programs are costly and time consuming. A recent article in CIO Magazine argues that these components have become more affordable and collaborative than ever. Electronic document management is capable of being tailored to the needs of workers who utilize tablets and smartphones.
"Back in the day, with the big 'one-neck-to-choke' model, when you switched providers you had to switch everything," Thomas Young of Information Services Group told the source. "It's the difference between switching out the stereo in your car and switching out the whole car."
Many of these vendors have made it easier for companies to collaborate with multiple partners, which allows organizations to create a custom platform that suits many needs. Because it is becoming easier to mix and match, business process outsourcing will continue to be more affordable and accessible. Executives do not have to be limited to a small selection of services anymore.
How are these providers able to offer these services for less cost? Young explains that through a significant increase of labor automation, packages can be as much as 60 percent more affordable. Now is the best time for business owners to begin integrating a program that will improve their overall bottom line.
As businesses are working on finding ways to improve their bottom line, some executives are considering implementing a company-wide electronic document management system. This program can increase work efficiency and has the capacity to host a large amount of documents.
Construction companies, like many other organizations, utilize many files like permits, contracts and financial statements on a daily basis. However, these firms face lawsuits for reasons like delay of progress or malpractice. Because many of these senior staff members do not have an organized document management system in place, a myriad of these companies settle out of court, which largely impacts their revenue.
If more construction firms utilized an electronic document management program to classify the paperwork in specific areas, then they could represent themselves better.
"Those working on the project must have a clear understanding of the repository's structure," Pepper Hamilton LLP lawyers explained. "Otherwise, when a dispute arises, a company may be forced to search the entire repository if the custodians are not storing the project data in the appropriate sub-file."
Administrative staff members can establish a well-organized database if they apply the paperwork into specific folders. For example, one section could be dedicated to communication between clients while another could be full of permits for upcoming or past projects.
Actively keeping track of all this documentation will be beneficial to the construction business. Not only does the sector have evidence a need for specific exchanges, but they also must comply to their state's document retention policy. Businesses that do not safely store or destroy private records could be subjected to fines or jail time.