For hundreds of years, organizations across the world have traditionally depended on paper filing systems to store and retrieve their important documents. Moving from paper-based to electronic document management, however, can help your company significantly reduce costs.
That’s because paper records are extremely difficult to manage. Not only does each document have to be manually stored and retrieved, searching for documents in filing cabinets or off-site locations can be incredibly time-consuming.
In fact, a global survey of workers and IT professionals by IDC found that document challenges account for 21.3 per cent of productivity loss. Not only that, but a report from PricewaterhouseCoopers claims a staggering 7.5 per cent of all paper-based documents in a business will be lost or misplaced.
A well-implemented electronic document management system will remove these productivity issues from your organization’s daily processes. So what exactly is an electronic document management system and how can my company transition from a paper-based system? OT Group answers these questions below.
What is an electronic document management system?
An electronic document management system is a software that allows your business to organize, store and manage different types of documents in one easy-to-navigate digital solution.
By providing a way to centrally store a large volume of digital documents, an electronic document management system makes it significantly easier for your company’s team to retrieve, manage, store and utilize important documents and integrate them into existing systems.
Electronic document management systems solve storage and retrieval problems inherent in your company’s existing paper filing systems by consolidating core business information into one central location - making it accessible whenever and wherever you are.
The result? Reduced business costs through the automation of tasks, improved productivity and instant access to information.
How can my company transition from paper-based to electronic document management?
As intimidating as the thought of transitioning to an electronic document management system may be, adapting your company’s process to a paperless approach will help you realize a wide range of benefits that empower your business to compete in a highly competitive market.
Here are three simple steps that will help your organization transition to an electronic document management system:
1 - Prepare your paperwork
The first step of transitioning to an electronic management system is the worst part, and probably why many companies choose to chug along with countless pieces of paperwork overtaking the option to become an efficient, well-oiled machine - organizing your paperwork.
Before you can start storing and managing your physical documents through a digital solution, you’ll first need to organize the paperwork you already have. This will take some work and delegation among your team, but, once done, your entire organization will be impressed with the efficiency in which they can now complete tasks.
2 - Find the right digital solution
A report by M-Files found that professionals spend a staggering 50 per cent of their time searching for information, taking an average of 18 minutes to locate each document. Just like your physical document storage system is already doing, a poor electronic document storage system could also cost you lost time.
Not all electronic document solutions are fit for the unique needs of your organization. Don’t just choose the first or cheapest one you find. Speak with an expert, such as OT Group, about which type of software would work to help you achieve your business goals.
3 - Get your entire team onboard
Adopting new business tools is essential for the growth of your business in a world where technology is constantly advancing. However, the success of every technological implementation relies heavily on its successful adoption by employees.
For an electronic document management system to truly save your business time and money, it’s essential that your employees embrace it. There’s a variety of ways you can improve employee adoption, such as:
- Organizing training sessions.
- Give employees the time they need to adapt.
- Give staff members input on the solution.
- Reward employees for using the technology.
- Integrate the technology perfectly into your existing processes.
How OT Group will help
If you’re reading this blog, it’s likely that your organization’s data is scattered across your network in various file locations, outlook folders and databases - not to mention those paper files in filing cabinets and the piles of paper on your desk.
OT Group can help you effectively capture, process, secure, access and integrate your data into one seamless system that makes use of electronic records and digital workflows.
Want to know how exactly? Contact the OT Group team of experts today, and find out how we can implement an electronic document management system into your business that saves you time, reduces spend and improves the productivity of your employees.