Electronic Document Management is a simple method of keeping all of your company’s records organized. Why would anyone want to manually organize essential files and folders in this day and age of technology? Not only does it waste paper and take up valuable time, but it also increases the likelihood that crucial documents may be mistakenly lost.
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Manual document handling is also a significant financial burden. Unfortunately, the costs associated with this are often overlooked by the majority of businesses. Some aspects of document management that may not be recognized, but which represent significant costs to businesses. Inefficient use of time and resources throughout the retrieval process documentation. According to studies, around 17 percent of the energy expended by employees is spent attempting to locate files and/or papers.
Paper and ink expenditures that are incurred as a result of producing numerous copies of documents for backup purposes or simply because the original could not be found and it was more convenient to print another copy were not included. It is difficult to maintain high levels of productivity when documents are not stored in a centralized database. A disruption in workflow occurs when an employee has go to retrieve documents, where they may encounter unavoidable distractions and irritation if the document cannot be found quickly enough to complete the task at hand. Companies who do not have an adequate document management system are putting themselves at risk for security breaches without even realizing it. Everyone has access to confidential documents that were left out in the open.
Because there is no paper trail, it is extremely impossible to identify and trace down the perpetrator in the event of a security breach. As a result, a corporation becomes more subject to audits and legal issues. Companies are embedding electronic document management systems into their printers/copiers or multifunction printers in order to reduce security concerns and expenses. This enables crucial papers to be encoded, so ensuring their confidentiality and security.
The lifecycle of a document is tracked from beginning to end by electronic document management, which gives numerous benefits when it comes to restricting visible access or just checking on the state of a document. Electronic Document Management (EDM) is a fantastic tool for streamlining a procedure. By centralizing and organizing your documents using the most up-to-date technologies, you will save money on costs such as decreased productivity, paper and toner costs, as well as on workflow and process efficiency, which will benefit your bottom line. You can choose from a variety of electronic document management software options based on your current print equipment and your company’s requirements.