Benefits of Document Management

Achieve greater performances & remove inefficiencies

90% of business information is unstructured and held in documents. Workforces are spending 30% of their time looking for information & up to 70% of documentation is recreated – IDC. It is clear that Document Management is a major issue and drain on workforce productivity. Beyond the benefits of just search and retrieval, there are also the huge performance gains possible through document process management and automation, remote working and collaboration. For organisations not managing documents effectively, document management can be an effective platform for delivering greater performances and efficiencies. Gartner estimates that a company can save up to 40% of document-related costs if they deploy a document management system.

 More informed, Data-lead decisions faster supports Business Agility

46% of all workers say it’s challenging and time consuming finding the documents and information they need to make informed decisions. (M-Files) Not only is this inefficient, it prevents data-lead and robust and informed decisions which will impact the businesses ability to respond and be agile. A Document Management solutions help workers unlock the value of information contained in their unstructured data and documents. Document process can be automated and governed more effectively. Integrated Business Intelligence capabilities measure KPIs, performances and issues with any processes and workflows.

Effective remote working & mobile workforce

During the huge shift towards remote working in the last year, much of the focus was on enabling communications ie. Microsoft Teams and also access to systems Microsoft 365. Whilst this is an important part of enabling remote working, it can also increase information chaos in a remote working world. Content and documents get shared, modified and processed independent of a central management system and workflow. Document Management solutions are an important part of staying in control and enabling an efficient remote working operation . Document Management solutions provide a centralised platform to manage the complete lifecycle of any document or content from access and search, to sharing, collaborating, workflows and also archiving, insight from anywhere. Importantly a DMS also adds a layer of security and governance to remote operations that simple remote access doesn’t offer.

Reduce risk and improve compliance, governance & end to end control

At basic level, enhanced document security and governance can be applied with ease through user-based dynamic access control, version control with full tracking of edits and views to protect the integrity and authenticity of master data content as well as the ability to roll back to previous versions. The Entire DMS can be backed-up and recovery automatically. At a more advance level, Document workflows can be created for specific task and processes to enforce procedures and avoid mistakes. For example, when handling contracts, proposals, HR information

Unlock workforce potential and retains the best talent

If workforces are spending their time just looking for information and only finding it 56% time of the time – IDC, it doesn’t say much for an empowered and enabled workforce especially when you consider 70% of documentation is recreated. Document Management removes this unnecessary burden from workforce so they focus on what they excel at – ie informed decision making, trouble shooting, Compassion, empathy, consulting, creativity etc. If you combine this with the ability to work and collaborate remotely, effective document management is a force for good. Those companies that support remote work have 25% lower employee turnover than those that don’t. (Owl labs)