Whether it’s health insurance, car insurance, or life insurance, there is a need for superior security and efficiency when it comes to record documentation management. After all, insurance documents often contain a plethora of private information. From social security information to financial statements, insurance documents are no stranger to compliance and while this compliance is absolutely necessary, it can also be a huge hassle. However, if you’ve ever had to manage insurance records then you are likely all too aware of this concept.
The Problem with Traditional Document Management
The chances are probably high that you have dealt with at least one, if not all, of these problems at some point in time. Whether it was training your team on the latest HIPAA-compliance standards or tracking down missing files, the woes of traditional document management are numerous to say the least.
Here are just some of the most common problems you may have come across:
Storage
Files, files, and more files. Finding a suitable place to store all those files is a challenge all of its own. Traditional document management often relies on paper-based storage and before long, if you’re like many companies, you have more papers on hand than you even know how to deal with. If the very thought of your storage room gives you or your employees anxiety, rest assured you’re not alone.
Confidentiality
When you’re dealing with confidential information, security becomes of the utmost importance. Between managing complete regulation compliance along with organizational security, confidentiality is an issue that plagues businesses of all sizes. From venture capital-based startups to Fortune 500 companies, confidentiality is often a troublesome issue for organizations managing confidential information such as insurance paperwork.
Duplication
Whether you need a duplicate copy made or are searching for a duplicate document located within your organization, traditional file management can be rough. Sure, information may be organized, but it can still be a hassle to try and retrieve a document, especially when you’re standing in a room full of file cabinets. If you’ve ever found yourself feet first in a world of paperwork, we understand that searching for files isn’t the most pleasant task known to man.
Resources
Efficient resource management is crucial to any organization’s success. After all, spending more than you need to rarely makes sense, and while documentation management is necessary, it can significantly deplete organizational resources over time. Between taking up physical office space, increasing paper-based consumption, and reducing employee availability, documentation can be one of the most costly and time-intensive activities for any organization.
Errors
Have you ever made a mistake? Well, of course, you have! After all, we’re only human and while some errors are to be expected, errors related to confidential insurance information can be extremely costly. Not only do human errors lead to financial consequences, they can also lead to harsh penalties in some cases. Although mistakes are rare, they do happen. After all, how many times have you found yourself making a mistake after a particularly stressful day?
While managing insurance information may not be the easiest task in the world, there is a better solution. In fact, there is a solution that could reduce or eliminate many of these errors completely.
A Solution to Insurance Records Document Management
Traditional document management can be messy, costly, and time-intensive. While in the past we were left with very few outside options, today we face a different reality. In fact, the days of labor-intensive document management may well very be a thing of the past. The solution is simple: document management software, or DMS.
Why DMS?
What does DMS offer that traditional document management tactics alone cannot provide? Well, we’re glad you asked. While you will find the capabilities do differ between systems, there are a number of added advantages you can expect, explained briefly below.
Reduced Overhead
Unlike traditional insurance documentation management methods, an effective DMS can reduce organizational overhead significantly. With no need for physical file cabinets, paper products, postage, and more, organizations can save big by transitioning to software-based storage solutions.
Enhanced Security
In addition to reducing overhead, effective document management software also offers enhanced security, which can be particularly beneficial for organizations dealing with sensitive information as insurance. Designed to provide heavy encryption along with frequent back-ups, a DMS is an incredibly valuable tool for organizations looking to improve the efficiency and integrity of their operations.
The eFileCabinet Advantage
As you might have guessed, document management software offers a number of lucrative advantages. However, not all document management software is created equal. After all, when you’re an organization that is managing highly secure information such as insurance, you need a system that is capable of managing this type of information the most effectively. Luckily, that’s where eFileCabinet’s DMS solutions can help.
In fact, here are just a few of the benefits you can expect from the integration of eFileCabinet’s DMS:
Superior Security
Keeping your organization’s information safe has never been easier or more secure. Our role-based securities along with a 256-bit encryption and off-site data storage centers for frequent backups, eFileCabinet’s document management systems provide the enhanced security and protection your organization needs.
Complete Compliance
Compliance can be a headache, especially when you’re dealing with insurance. Luckily, an effective DMS can reduce or eliminate many of your organization’s biggest concerns and hassles when it comes to compliance. Whether you’re dealing with HIPPA compliance or any number of other compliances, rest assured eFileCabinet provides your organization the complete compliance it needs.
Seamless Integration
Worried that your current software might not integrate with eFileCabinet’s? After all, it’s a common concern that deters many organizations from going paperless. However, with eFileCabinet’s document management software, third-party integration becomes a single, seamless process. Our DMS is designed to integrate seamlessly within your organization, even when outside software is present.
Competitive Edge
Perhaps most of all, eFileCabinet’s DMS can help your organization gain a competitive advantage. With the opportunity to make work more efficient, environmentally-friendly, and effective through the power of digital, our effective DMS can provide the digital solutions to some of your organization’s biggest and most costly problems.
Curious to see what eFileCabinet’s DMS looks like in action? Be sure to fill out this form and receive instant access to our 15-minute free demo, where you’ll get to experience first-hand eFileCabinet at work for your organization.