Why Companies Should Use an Electronic Document Management System
The total amount of paper a company handles can be endless in today’s world of business. For each piece of paper, someone needs to file it, do occasional retrieval as well as get storage space. When you are speaking about thousands and even millions of pages of paper, this is often a very time-consuming and a very costly task. The costs mount up quickly, in the form of wages for employees who are in charge of filing and retrieving documents, as well as warehousing space required to place the massive quantities of paper files.
Paperwork is a continuous process that requires the time of several employees. That time could be better utilized in performing the tasks that they have expertise in. The opportunity cost of a paper filing system in inclusive but not limited to time wastage, reduced efficiency, and wastage of space. In short, the efficacy of a company is greatly hampered by continuing to use a paper filing program.
The advantages of an Electronic Document Management System (EDMS) are numerous. With an EDMS, you will be able to take all of the paper documents, scan them and then throw the papers away or store them in an off-site storage in case you are too skeptical to discard them. Each of the files will be stored in an electronic form and can be accessed from your office computer at anytime. You certainly do not need to get worried about misplaced documents.
The initial expense of transforming to an EDMS is what prevents people from embracing it. This cost consists of the time and money it takes to scan all the company’s paperwork into the system. An organization can hire a scanning support bureau to do the work to save time, which may sometimes be the most economical system in contrast to spending on a worker, who will probably be less effective. Regardless of the approach selected, the initial cost could be quite high, but these costs ought to be offset in the first few years.
Another method of moving to paperless storage is to start scanning your files from today as the documents come in and leaving all previous files as they were. This enables the business to avoid a big part of the initial costs while still appreciating some great benefits of the digital file storage. The company can then convert the old files slowly as they start appreciating the system grows, allowing them to spread their cost over months or years.
Their efficacy is considerably increased, once a corporation is totally paperless and using an EDMS, and their overall office clutter is eliminated. These improvement result in more business and greater profits instantly.
If this is not enough to convince you, then this will do so. The company has to no longer worry about the risk of losing vital business information, theft of documents or their destruction due to some unforeseen circumstances such as hurricanes. So nothing will be lost since the EDMS can backup your files offsite, plus its protection attributes will prevent unauthorized people from obtaining the records, a job that is quite hard with a paper submitting program.
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