Often, small and medium sized businesses do not spend big bucks on their cyber security. Guess what? Hackers know this and they have been investing a lot of effort to try to exploit that.
The employee surrounded by teetering stacks of paper is less common today. What with the move to digital technology, we’re all doing more online. Yet some businesses remain true to traditional processes, passing documents around the office. You could be paying for this in lost productivity or worse. You may benefit from a Document Management Solution. Check out the common signs of trouble and learn how a Document Management Solution can help.
Trouble Sign #1: You are losing business due to slow work processes
It may not even be this severe. Maybe you’re not actually losing that client, but your customers are not happy with the time it takes your staff to get back to them. They call with what they see as a simple question, but your people need to hang up to find the right folder on their desk or look through filing cabinets.
Trouble Sign #2: Conflicting information is causing problems
You have digitized some work processes, but you have people who still prefer to do things the old way. Perhaps you wanted to be flexible, yet you’ve discovered document control is now a problem. It’s difficult to know who has the most-current copy of a file. Plus, when someone enters inaccurate data, it takes time to notice, because various documents are floating around.
Trouble Sign #3: Inefficiencies are costing your business time and money
Exchange of information is essential for business success. You could be a one-person shop doing every task. Otherwise, you need to know what is happening end-to-end in the business. When you’re relying on manual processes, it is more difficult to track:
- orders received;
- where inventory is in the supply chain;
- when orders ship;
- current inventory levels;
- what customers are saying to customer service;
- which customers get discounts and which don’t pay on time;
- where a document is within a multi-step process;
- what employees are responsible for what tasks.
A miscommunication or lack of communication between departments wastes valuable resources. According to Google, executives waste 30% of their time looking for information. With what you’re paying top brass, you want them to do more with their valuable time.
Benefits of Document Management
A document management solution allows you to easily scan, capture, and retrieve documents. When a vendor calls, your employee can search a key phrase, email, or phone number to bring up the correct file.
A document management system can also streamline workflow. When sales submits a contract, underwriting can receive an alert that it’s time for them to take over. Once that’s done, the document is forwarded on to the next party. Throughout, everyone works with the same file, and all revisions and comments can be recorded and saved along the way.
Advanced document management software can also automate workflow to speed your processes. Additionally, the artificial intelligence engine running the software can confirm accuracy. You might configure the software to pre-populate fields. Some document management tools even check forms to confirm completion.
Automating document management also gives you access to data analytics. You can identify human bottlenecks and recognize employees who are particularly efficient. Monitoring documents can help identify trends, which can help with prioritizing business improvements.
With online document management, you can save on office space, too. Instead of keeping hard copies in file cabinets or off-site storage, digitally archive relevant materials.
That digital archive also supports compliance and can save your business from legal action. You don’t have to worry about being unable to provide the proper document when it’s needed. Document software systems provide a complete audit trail. The software might even generate automated notifications when sensitive information is shared.
Looking to add document management to your digital solutions? We can help you and your business find the best system to meet your needs. Work with our IT experts to learn how document management can benefit your business. Contact us today at (843) 236-6436 or complete the form on this page to schedule a 10 minute consultation. We’ll be happy to answer any questions you may have.
For more information on our services, be sure to visit www.wactel.com.
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