Archive for November, 2010
Technology has completely transformed the world today, so much that any business can be run from any corner of the world. Ability to communicate at all times using the internet and any handheld device has completely changed the way world interacts today. With ever-changing technology and scores of new gadgets being introduced every year, where do you think the world would be a decade from now? Probably much more advanced, with even more sophisticated hardware and software to manage everything, right from educations systems and businesses to government organizations. Considering this, where does your business stand? Is it up for the competition?
If you have been thinking about revamping the way your business is managed, then installing a document management system is a great way to start. The best part about starting reorganizing your office this way is that you get to do away with all the paper in your office. Along with this you also get rid of bulky filing cabinets and folders, thus emptying a large amount of space to carry out the next step of reorganizing your office.
Document management system is a great method of archiving documents for future use. You may have several documents lying around apart from those used on daily basis. These may be in the form of brochures, policies, user manuals, and so on, which can be easily digitized using data capture solutions. Data capture essentially includes digital imaging, wherein your documents are scanned and saved as a .tif, .pdf, image only or text format. The system does not save the documents just anywhere, but at a location on the hard disk specified by the user. A document imaging and management software saves all your records in a concise and easy to retrieve manner.
This is the most affordable and cost-effective method of maintaining records today. Imagine a situation where you need some important data for your report and your subordinates or colleagues are not able to find it in the filing cabinet. Archiving documents using data capture solutions helps retrieve data by using simple keywords or fields used while saving the records. For instance, you can easily search for data using serial number, invoice number, order number or any other such information that you have. It is the easiest method of managing records and saving precious time.
Even if you have switched to a computerized system, data capture solutions can be used for archiving documents such as old paper files. This way you can easily reduce the hassle of storing older records in paper format by simply converting them into digital files. It will also be easier for you to look for old reports or other information by searching it on your computer rather than going through loads of old data on paper files. In fact, such a system guarantees that you would definitely find the information if it has been stored correctly, where with a physical storage system you can never really be sure whether the record even exists.
A document management system also helps streamline the workflow of documentation and retain consistency while archiving documents. For instance, in paper records, different people may write the same field or detail in different ways, even if there is a set format for the same. This is not possible in a document management system as there are set fields and ways in which records can be entered. Apart from this, often such systems are installed for centralized use, where any employee can access the records from anywhere in the office. This again saves time in finding and taking a file from one office to the other, where reports and updates can be easily sent electronically.
Installing a document management system is the best business strategy that you can implement to improve the way your office functions. Imagine the amount of time saved, which can now be utilized in concentrating on business goals and objectives rather than looking for information. A document management solution can really help improve your services, reduce administrative burden and increase productivity. It is the best way of using technology to your advantage and creating more opportunities for your business to grow.
Document management has come a long way, from maintaining paper files to computer based documentation to automated data capture. The reason why automatic data capture has gained importance in recent times is the large amount of data that needs to be maintained on daily basis. Both large and small businesses and organizations receive thousands of documents everyday in the form of bills, receipts, order forms, and so on. It is becoming increasingly difficult to keep a record of all the data that comes in, leading to loss of important information and consequently loss of precious time.
Data is one of the most important entities for any organization, be it government or a business. Everything from records of employees to transactions involving millions of dollars is dependent on efficient accounting. Also, hundreds and thousands of entries are laboriously made by typing on the keyboard, increasing the scope for errors. Considering this, one lapse in manual entry can have very serious consequences, emphasizing the need for automatic data capture system. A system in the form of document management software not only helps in maintaining data but also in retrieving it at the right time.
A simple issue like not being able to maintain a database correctly can be a big hindrance to expanding your business. For instance, it may not be possible for you to provide your services to more than a certain number of customers at a time simply because you don’t have a system to maintain those many records, orders and transactions. In such cases, software with the facility of automatic data capture can be a great tool to take your business to a new level.
The automatic data capture feature of document management software helps add records directly from the documents, without any manual intervention. It uses technologies such as bar codes, optical character recognition, smart cards and so on to record data for future use. For instance, a data imaging software scans and captures relevant information from a paper document and records it in a folder selected by the user. Basically anything that your office maintains in the forms of paper documents has the potential to be captured and maintained on a digital format.
Some benefits of document management software include:
Increased efficiency: Document management software is truly a time saver. The automatic data capture feature can save several hours otherwise spent in typing out data from paper documents. This also tremendously reduces the likelihood of errors and again the time spent in correcting them. As there is very less manual work involved, your employees can concentrate on the business objectives rather than putting their efforts on document management.
Increased ROI: As every document is saved digitally, document management system helps streamline the process of maintaining database. It also reduces the need for paper and consequently space required for their storage. These can have significant impact on investments made just for security and storage of such paper documents. Also, there is noticeable decrease in the amount of hours spent in searching and retrieval of documents, thus saving hours of business time.
Access control: Document management software can be setup in a way that it can only be accessed by authorized personnel, thus reducing the chances of loss of information. The data can also be shared on need-to-know basis.
Streamlined workflow: One important feature that matters most to organizations is consistency in processing. For instance, you may have certain document naming conventions or particular folders where each type of document is saved. There is always a chance of error when this is entered manually. However, once you have set this on document management software, you need not worry about whether the document will be saved in the correct folder or not, as everything is automated.
As you conduct meetings from time to time to monitor weekly or monthly progress and increase efficiency, you may have come across document management as a recurrent issue presented by your managers and other employees. There may be several problems ranging from accidental loss of data to hours spent in documenting records. Document management software is a great tool to automate your office and significantly reduce the time spent in manual documentation. It is one of the best means by which you can look to expand your business and help it grow exponentially.
Steve Breault “DocMeister”