Globalization and the transnational interconnectedness of people, businesses, and economies it fosters comes with plenty of advantages and a fair share of drawbacks. This article explores how globalization changes the way companies conduct businesses. We’ll also explore the challenges created by globalization and how document management systems (DMS) can help organizations rise to meet them.
What Is Globalization?
While the world is becoming more interconnected in recent years, the trend to trade with other nations and travel is certainly not new. When people first settled down along the Fertile Crescent around 10,000 B.C., the rise of settlements and cities led people to trade with each other. Whenever possible, people used wagons and boats to reach destinations further away for trading opportunities. One of the majors drivers of globalization is technology: in the 16th century, advances in marine technology allowed imperial forces to sail around the globe, and today, information and communications technologies allow organizations to business across borders and time zones with ease.
Nowadays, globalization enables complex transnational trade flows, where, for example, an American-based company may importing raw materials from Mexico or China, contract marketers in the UK, and sell the finished product in America and Europe. The same company may have employees working for it all over the world in different satellite offices. They may also allow employees to work from home. Globalization opens up a world of opportunities for your business when it comes to procurement, sales, and human resources.
How Globalization Affects Businesses
Globalization is not just about connecting businesses from different nations, although your company may currently be doing business in other countries. Your company may also feel the effects of globalization through the technological leaps of our globalized age, which may mean that your employees work in different offices around the country. With teleconferencing and telecommuting technologies, your company is no longer limited in its recruitment for satellite locations.
While there are a lot of advantages to globalization, integrating people across time and space doesn’t come without challenges. For example, it can be difficult for remote employees to feel part of the team if your company culture isn’t built around a remote workforce to begin with.
Decentralizing Business Operations
More importantly, your company has to figure out how to conduct business effectively without centralizing business operations. Your employees need access to important paperwork and documentation in order to do their job. Your employees also need the right equipment to get the work done, whether that includes a laptop, tablet, phone, or a combination of those.
While providing employees with a computer isn’t more expensive when they’re located remotely, it is more difficult to ensure that they have access to the paperwork, documentation, and authorization they need to get their work done. It doesn’t make sense to replicate your filing cabinet collection for each of your employees. Instead, use a document management system to electronically store and integrate files across locations.
Whether you’re emailing or talking to employees, business partners, vendors, or customers around the world, the fast pace of our globalized economy requires instant communication from businesses. Your employees have to be able to talk to each other and make decisions even when they’re not sharing the same office or building.
While your global company needs to share information with employees, customers, and vendors, it’s important to keep your documents secure from unauthorized access. You may find that keeping your documents secure is easier when they’re locked inside filing cabinets, but that’s misleading. It doesn’t take much to break into a filing cabinet, duplicate a key, or swipe papers from an employee’s desk without anyone being the wiser.
On the other hand, an electronic DMS has built-in safeguards that prevent unauthorized access to your files. You can also use the audit trail to verify that your employees are following your document management procedures and policies correctly.
Why DMS Is Necessary in a Global Economy
When companies operate under a global economy, moving to a paperless office is an important first step. But in order to help employees connect within your organization, it’s necessary to embrace a document management system.
Instant User-based Access
A DMS allows you to grant instant user-based access to your employees. This gives them the ability to add, view, edit, and archive files as needed to get the work done. With our DMS solution, your employees can work remotely on any device, whether they’re using a laptop, tablet, or phone.
Sharing Files Securely with Clients
Our DMS solution allows you to share files securely with clients. Instead of having to pay and wait for expedited shipments of documents, you can securely share documents instantaneously. When you combine that with the ability to sign documents electronically and create streamlined workflows, your organization will operate with efficiency and speed.
At eFileCabinet, we understand the challenges your organization has to meet in this global economy. From integrating with business software to allowing you to create, edit, manage, share, and archive your documents, we provide a solution that works for you. Fill out the information on this page to start your free 15-minute demo.