Handling paper can be monotonous, laborious, and most of all, time consuming. Human capital is an essential investment and organizations need to mange it more efficiently. Having talented professionals resort to administrative duties will not only create an atmosphere of dejection at the workplace but also reduce productivity. Cost-effective office management necessitates the induction of automated processes within organizations.
Electronic documentation not only reduces the cost of managing a growing business but also automates the workflow. The software is beneficial for both managers and employees, enabling a more collaborative workforce. The Return of Investment on automating document management is pretty neat, pun intended. Nevertheless, a few significant reiterative points will help convince those customers who are wary of change. For organizations looking to cut administrative and operational costs, improve savings, reduce risks, and leverage new market opportunities, DMS solutions come in handy. Effective documentation is a critical task for every organization and this fact is very well demonstrated in the February 2012 Aberdeen report, wherein, roughly 39% of the respondents stated that processing documents is time consuming. Another 29% pointed out the exuberant costs of handling paperwork. Because unstructured data is growing at the rate of 30% per year, it makes complete sense for organizations to automate document management. The returns are encouraging, with the time taken to scan or capture a single document being reduced to 2.2 minutes for organizations using some form of DMS solution. For those that didn’t, this time came to about 3.6 minutes. Also, employees using automation to process unstructured data spent roughly three hours per week searching for information, as opposed to the 6 hours spent in manual search. Moreover, employees were able to seek the desired information 78% of the time, thereby, reducing the time spent on document processing by 10% (Aberdeen).
The impact of document management solutions on performance is also noteworthy with organizations gaining 8% more visibility into business data. In a nutshell, it pays well to automate office tasks and document management solutions enable better handling of unstructured data.