2009 14 Dec

Document Scanning And Document Management Systems Cut Operating Costs Quickly

A document management system that involves document scanning and conversion of key business files into digital files for archiving, retrieval and distribution straight from the computer is a proven cost-effective way to reduce operating expenses quickly. It can be very spotted, targeting your most paper intensive processes, for example accounts payable, proof-of-delivery, and human resources. These are areas where there are frequently paper jams that slow work procedures, decrease employee efficiency and add to operating expenses.

A document scanning system that automates manual tasks and eliminates time-consuming procedures will provide for a more efficient business processes and let employees work more efficiently and creatively. Based on the McKinsey September 2008 Quarterly Report, one of the critical business goals during a downturn is getting more “bang for the buck” from employees, and concludes that IT is necessary to meeting this goal.

Research shows that professionals use 5- 15 percent of their time reading information, however up to 50 percent looking for it. By introducing a digital imaging and workflow automation system, a business enables its employees to focus on their core business everyday jobs. Overtime can be avoided with automated processes, and employing temporary filing help is no longer necessary.

With a “paperless office,” the significant expense of copying and filing file is slashed- and so is the time spent looking for lost ones. That’s one more major cost saving: on average, businesses spend $20 in labor to file a document, $120 to locate a misfiled one, and $220 to reproduce a lost one! Knowing that 7.5 percent of all documents get lost and 3 percent of the rest get misfiled, those savings mount up fast.

if paper documents are converted into digital images, there is no more the need for photocopying and faxing. The expenses associated with this- including paper, toners, print cartridges, and equipment repairs, are also eliminated. And since digitized documents may be emailed quickly and with no trouble, the cost for shipping, mailing, and courier services are radically reduced. With a courier service costing from $8 to $15 per package, there is plenty of money as well as time to be saved.

Warehousing and office space overhead also decrease with electronic document management. Up to 99% of office space used by filing cabinets and boxes can be freed and used for income producing services. Document warehousing and storage is no longer necessary, as important business documents are always available directly from the computer.

A document management system can be implemented quickly and with no trouble with no capital outlay, and deliver a disproportionate worth in a short period of time. Actually, investing in this type of technology not only improves efficiency but also creates revenue growth that generates more money than straight cost reductions. Your business can operate more competitively and serve its clientele better- key factors in surviving a recession.

In this economic environment, it is efficient to take a close look at your end-to-end business processes. Examine where you can improve procedures, enhance the customer experience, and reduce waste. As soon as you have recognized those areas of opportunity, a digital imaging system as a component of the document management system will assist you achieve your goals quickly and cost-effectively. Replacing outdated manual processes will help get rid of redundancies and bottlenecks, get a better employee productivity, and your end result.