Businesses are always looking for ways to increase efficiency. One often-overlooked way to do this is to utilize document management software, or DMS. Here are 6 reasons why the increase in efficiency from DMS is worth the cost.
1. Storage Costs
You will save money on file folders, file cabinets, office space, time, and labor. You will not only save money on the physical costs to maintain and store documents, but will also save the cost of labor to manage the physical storage of documents. You will free up your employees’ time to do other revenue-generating projects.
2. Print and Copy Expenditures
You will be greatly reducing your costs for toner, copy machine and printer maintenance, paper, and carbon copies. You’ll also save time by eliminating the act of making several copies. There is a labor cost associated with these tasks that can be saved and allocated to revenue-generating projects.
3. Labor Costs
The cost associated with filing, searching, and maintaining a physical structure is eliminated. How much time does your company lose in man hours searching for lost or misplaced documents? What about deals lost or sacrificed because documents were filed improperly or lost? In a document management system, all documents can be accessed by any individual in an organization, no matter where they are located. There’s no need to email, Fed-Ex, or fax sensitive documents back and forth, try to keep track of who has what version, and add corrections and additions to the document. With DMS, anyone can access files from any location, including having mobile access from smart devices.
4. Business and Employee Efficiency
Tasks can be completed faster and in a timely manner and workflows can be optimized to be more efficient, which can lead to quicker payments from customers and lower purchasing costs from your vendors.
Documents can be locked down and permissions given to the appropriate individuals and departments. When an employee is terminated, permissions can be immediately changed and locked out. No need to re-key cabinets and offices to protect your valuable data. Permissions can also be applied to individual documents within a cabinet or drawer for individuals or departments. They can also be changed on the fly as the situation dictates.
6. Disaster Recovery
All your documents can be located off-premise and backed up to geographical safe zones. There’s no need to worry about an onsite theft, natural disaster, fire, flood, or whatever worst-case scenario you can imagine, and no need to have special disaster recovery options for your paper archives and physical file system.
DMS can add dollars to your bottom line and increase customer and employee satisfaction. eFileCabinet can help you free up resources to grow your business and increase profits by reducing your cost to maintain and manage physical documents. Fill out the form on this page for a trial offer to see how eFileCabinet can benefit your business.