Posts Tagged ‘document management software’

Steve Breault, Vircosoft Founder / CEO

Business document management software is an agent of effective customer service which helps a business to grow when integrated. When your customers feel connected to your business, you receive in return the best form of advertisement which is referral or word of mouth advertising. Referral is the most organic form of advertisement for a business organization. If your business makes its customers who call in to make inquiry on their business transactions wait, that is not good for business. But if they can enjoy speedy responses in seconds with the information needed they will recognize that your business is customer service oriented and that is good for you too.

However, it is a common knowledge that in most businesses, employees find it difficult to locate and control key documents when it matters most because of the cabinet document filing system in use. For efficiency in keeping up with customer service inquiries, document management software provides you a more efficient document filing system needed to keep all your customers information as well as all regulatory compliant documents and eliminate paper records and individual document filing pattern of your employees. Here are some facts that show the importance of the document management software in every business.

Challenges and inadequacies of keeping paper documents: Often, there are many challenges associated with a business that lacks the application of the business document management and they include the inability to know where the business documents are kept, replacement of documents because the originals were lost or got missing in transits, difficulty of tracing out important files when somebody goes on holiday, difficulty of keeping track of many paper records, payment of wages to someone for filing and archiving files, poor response rate to customer inquiry, and the worry of being able to find appropriate document if the company is suddenly sued to court. All these challenges will be completely wiped out once the electronic document management software is integrated in your business.

Business document management is the solution for keeping business files electronically organized: Electronic document management software is the technology of efficient organization of business information and the ease of retrieval when needed. It involves the process of scanning, indexing, storage, retrieval, ease of sharing files with every employee intended, and the security of every archived document from unauthorized access. When any document has been stored with this software, the danger of being lost or misplaced is ruled out. You will have access to every document when you need it at anytime of the day and at anywhere even if you are at offsite locations.

The role of electronic document management software for enhancing customer service: When business document management is integrated in your business, it saves time in finding any files since all files are indexed and stored. That guarantees improved service to your customers at all times. Every required file can be accessed on each computer in every office and sharing of information between departments becomes easier particularly where a superior approval is needed to meet with a customer’s requests.

Steve Breault, Vircosoft Founder / CEO

In today’s challenging business world, running a paper based business would mean managing a business with endless amounts of paper, the file cabinets, and the storage space for keeping them. Besides the space and the volume of paper documents, there is the need for someone to file each paper document and for multiple times, someone else would have to retrieve the documents. When dealing with paper files that run into thousands or even millions of paper based information piled up over many years, filing and retrieval processes are bound to be very cumbersome and costly. The costs of this system of managing business information without business document management will mount up so quickly in the areas of wages and salaries of persons employed to do the filing and retrieval of the paper documents and the storage facility meant for keeping massive quantities of these paper files.

Paper filing system is inefficient and costly: The economic costs indices of the application of paper and cabinet filing system in managing a business has its effect in wasted time, absolute delay in customer response rate, inefficiency of the system,  and the costs of rent for the storage facility for this age-long pattern of managing business information. If a thriving business continues with this old business document management system for a long time, its bottom line is bound to be affected and the shareholders wealth will decline compared to if the electronic business document management software is deployed. With the electronic document management software, you will be able to store all the paper files online through the process of scanning and indexing. Once the document is stored online, you can discard the paper file because every document stored electronically is secured by hi-tech firewall security system and it will be kept protected throughout its legal lifespan.  

Investment in business document management software guarantees efficiency and higher profitability: Most often, the initial cost of acquiring the business document management software technology is what may look like a heavy expense but in reality, it is an investment into the future of the business and it would be recouped within the first few years of integrating the electronic solution into the setup of a business. Once a business has integrated the document management software into its mainstream, its efficiency will greatly improve, its customer response rate will improve, and the office will be more spacious since all the office clutters and the file cabinets are completely done away with. All these improvements will translate into more patronage for the business which will lead to more profits and increase in shareholders wealth.

The business document management is therefore an investment and the vital information of the business is also protected from being stolen, from getting lost in transit, from fire disaster, and from such unforeseen natural disasters as the Hurricane Katrina that claimed millions of paper based business documents when it struck some years ago.

Besides, the document management software has added benefits to your business by serving as a reliable off site backup. Likewise, its security features guarantees prevention of any unauthorized persons from gaining access to its contents  and even the authorized persons will be prevented from accessing any part of any document that they shouldn’t access which is what paper based filing process can’t achieve.

Steve Breault, Vircosoft Founder / CEO

Business document management software is a tool that saves time, money, and guarantees operational efficiency when installed in the setup of a business or an organization.

There is no doubt that running a business or an organization based on paperwork and file cabinets significantly reduces productivity and increases the costs of doing business in a wide range of processes of which labor costs is substantial.

Document management software permits you to capture, archive, store, and access your business information online. Once the deployment of business document management is accomplished in your business setup, you can access your business information from anywhere, securely and when you need it. Other major benefits of the electronic document software include ease of compliance with regulatory requirements where applicable and disaster recovery support which should give you confidence when it comes to critical documents.

Besides the basic functions of capturing, archiving, storing, and the ease of access to your online documents, business document management software does a lot more in a business or an organization some of which are stated as follows:

Document management software will ease your business inter-departmental approvals and improve customer care: With electronic document management, staff members’ ability to get urgent inter-departmental approvals comes with ease in a record time. This is because this electronic document solution creates a more streamed-lined and functional system for sharing business documents across the departments of a company which helps to improve customer care. Here is a scenario that explains this better:  If a client places a call to the Customer Care Department of your company where the document management software has been installed with a request for a refund, the Customer Care Officials will surely access the document online with ease within seconds. If after discussing with this client the Customer Care Officials proceeded to make a refund, the relevant document can be forwarded to the Billing Department within a record time so that the client gets a refund almost instantly.

Business document management solution improves the operations of a company’s accounting department: In an attempt to ensure a high level of success and return on investment, many businesses have chosen to start their electronic document management software deployment in the accounting department. Typically, document management system can create extreme evident efficiencies within an entire traditional business organization that has a pattern of conventional processes involving paperwork like the purchase order in requisition process of product or service procurement applications through the approval stages to the level of obtaining checks for payment by a bank. In this type of system, delays are bound to occur at some points in the approval process due to the non-availability of one or more of the managers or executives involved.

However, once the electronic document solution is installed in this company’s corporate network, the whole process can be completed in a record time with a single entry of information needed by the requestor and distributed to all managers concerned electronically. The concerned parties can be notified automatically about the arrival of a new document in their mailboxes waiting for their review and action after which the requisition is relayed directly to the purchasing unit while the entire procedure is done speedily and efficiently.

Steve Breault, Vircosoft Founder / CEO

Document management software is as relevant in health organizations as it is in any other sector of the economy. All hospitals and other medical facilities need to deploy adequate business document management software systems in order to improve their productivity both in the short and in the long terms. The business document management solution also ensures improvement in operating activities and compliance with regulatory standards and procedures.

The boat-load of administrative procedures handled by hospitals and other healthcare facilities occupy a substantial amount of time and therefore add to the operating costs incurred within the healthcare system. The application of document management software system within a healthcare setting works to centralize numerous pieces of information and it helps to integrate them for use at any time by multiple sections or departments.

Effective business document management solution combines the field of information science and healthcare basics into an electronic software system database program that connects all aspects of a patient’s health records, the patient care logs, the financial statement or reimbursement record, and all privacy protection legalities fused into each patient’s records. The database structures and organizational features incorporated into this software also integrate well with meeting the requirements of HIPAA for patient privacy and easy access to records when needed.

Healthcare administrative application of document management software: Where there are multiple pieces of a patient’s information documented in files, on medical forms and on receipt slips, it becomes difficult if not impossible for such pieces of information to be accessed by all departments of a healthcare facility at the same time. Therefore, when it comes to tracking a patient’s medical history, legalities and financials within a healthcare setup, document management software streamlines information access in a way that anyone who accesses a patient’s medical records will have access to the most comprehensive and updated documentation always.

Document management software system improves patients’ healthcare account payables or payment reimbursement procedures: When it comes to payment reimbursement procedure, it is typical for a healthcare facility especially a hospital to have to relate with multiple health insurance providers where different insurance policies and patient’s out of pocket costs and insured services are all different from one health insurance provider to the other. When document management software is deployed, it permits various reimbursement procedures to be carried out electronically by automation programming based on the records documented in each patient’s database. Since it is certain that there will be inflow of much documentation, business document management system incorporates document imaging device which automatically allows immediate transfer of new pieces of paperwork information into the database of each patient.

Clinical healthcare applications of document management software: Effective document management software solution is built around the electronic health records of each individual so that patients vital information like demography, progress notes, problems, medications, vital signs, medical history, results of laboratory tests, and records of immunization are preserved for clinical uses. It follows then that every pertinent detail needed for clinical decisions for each patient is available in one place. The likelihood of overlapping or repeating medication or other services are also eliminated with the application of the document management software since care received from outside health facilities can easily be included in the patient’s existing electronic record and quality control is therefore assured.

Steve Breault, Vircosoft Founder / CEO

If your business is making its customers spend too much time on hold, it certainly requires the deployment of business document management software which is capable of speeding up the rate of processing your documents and also improves the rate of service delivery to your customers while keeping the costs of rendering service to each customer lower.

In a global business environment that is rapidly changing, customer service is cardinal and though sound intelligence is very valuable, yet it is no longer adequate to provide the vast pool of knowledge and the data required to take prompt business decisions when you really need it especially when dealing with a client on phone or one that is physically present in your office but the deployment of business document management solution will help you achieve all the customer satisfactions in a record time when it comes to the rate of hunting down crucial business information. Here are some benefits companies achieve when the business document management software is integrated into a business set up.

Business document management solution guarantees instant retrieval and processing of documents required to provide answer to existing clients’ questions at the right time: The simple reasons why some companies are able to retain many customers every now and then is that they offer their customers a level of satisfaction in terms of answering their inquiries and questions appropriately with relevant documents at the right time. If one of your customers call in to request for a copy of their contract with your company and it takes a longer time to satisfy the client, that is sure to give a poor image of your company and it is an indication that the business document management software needs to be integrated in your business.

Document management software gives the prospect of attracting more clients: When your company customer service is enhanced through the ability of your staff members to access customer records within seconds and the required information delivered or e-mailed immediately, then your company stands as a reference point in a business world of stiff competition such that many referrals can be expected and hence more clients gained for your business. It is therefore true that when a business provides the best customer service possible through electronic record keeping, it seals good relationships with its existing clients and it is therefore placed to gain new ones.

Electronic document management solution helps your employees stay focused on the core business of your company: Research reports says most business managers spend up to 15 per cent of their time reading documents but spend a whopping 50 per cent of the time looking for it. By implementing the document management software in your business, it will help your company eliminate the time wasted on hunting down documents so that both the management team and the employees can spend more time working on the core aspect of the business of your company.  In fact, more employees can be reallocated to business tasks that provide value and increase the income of your business enterprise.

Steve Breault, Vircosoft Founder / CEO

Business document management software is a perfect fit for all kinds of businesses; small and mid-sized companies inclusive. As a perfect fit, document management software has come to replace the file cabinets so perfectly and even much more with many benefits over and above the file cabinets. For example, document management software fits into the doctors ‘offices and relieves the offices of many paper based files and at the same time preserve the medical diagnostic  files online to meet regulatory requirements. Business document management application does a similar thing to the lawyer’s office and makes it free of all the old case files while the documents will continue to be legally and properly kept electronically.

The amount of floor space paper documents and file cabinets occupy and the time and human power spent in filing and retrieving documents the traditional way constitute the biggest headaches of businesses. Therefore, business document management can go far to ease every known documents storage headaches for all professionals including doctors and lawyers and therefore boost their efficiency.

The reasons you should dump the file cabinets for document management software includes the followings:

1.      It is often difficult to retrieve the documents if you are not on site or if the person who does the filing is away from your office. With the document management software, you can have access to your documents at anywhere real time with no confusion because the files will all be indexed and stored.

2.      Business document management will help you avoid jinx of any sort that sometimes occur when you have to locate important files urgently. No matter the quantity of your data base, you will never lose any file once you deploy the electronic document management solutions.

3.      You gain the time needed to re-file a document after use into a file cabinet when you deploy the document management application.

Now, here are some of the numerous benefits of using the document management in your organization.

Capacity to import: Good business document management software will enable you to import your file into where you would be able to organize and then store it where you wish to for easy retrieval.

Common storage: You can store all of your documents together according to your choice regardless of origin and file type. So, all drawings, correspondences, e-mails, images, MS office files, and other kinds of files can be stored together.

Ease of Retrieval: The rate at which you are able to find any document stored with the aid of the document management software determines how good the electronic file storage is. Within seconds, any document can be found when you deploy the document management system simply by using search terms which may be in full or in part.

Permits editing of files: Documents store online with the aid of the document management software can be edited at will by you or whoever you authorise to do so.

Improvement in automation and efficiency: The business document software guarantees the efficiency of your business operation and in fact, it allows automation so that things you were doing on paper before can now be done in a more efficient way. The security of your documents is guaranteed so that you alone can determine who should have access to your documents.

Steve Breault, Vircosoft Founder / CEO

Document management software (DMS) is a computer- based application that captures, process, does document indexing, stores the file, aids easy retrieval, and distributes or even disposes of the document. This document which could be in any form is automatically stored online by the business document management software and it is protected from unauthorised access by the most sophisticated firewall security system.

DMS eliminates obstacles and reduces cost of doing business: The adoption of business document management software in a business removes most of the costs and obstacles associated with and created by the use of paper and file cabinets. The intensive labor costs due to paper duplication procedures, the effects of slow distribution of documents, the problem of misplaced originals and the near difficulty of retrieving files from off-site file cabinets are all completely eliminated when the document management software is adapted into a business set-up.

Experienced management experts have said that the methods of reducing or cutting business labor costs include the application of technology and by streamlining the processes of a business. When labour intensive jobs like manual document filings are replaced with technology, labour costs reduces considerably.

It is true that computers and the appropriate computer software applications can easily automate most normal tasks and eliminate errors. Good computer-based software ensures a hassle free, impartial, and orderly manner of meeting specific needs without any element of confusion. Electronic document management software has been declared to have a better accuracy of filing documents than the manual approach to filing documents.

DMS automates document filing and lowers labor costs: From experience, document filing is much of a chore. You have to always decide how to file a document, where to file the document, the location and the right sequence for the document. Besides, while filing the document you have to consider the ease of locating it when it is needed again. The labor costs involved in doing all these manual filing and retriever processes can add-up so quickly so that electronic filing is the way to go.

Let us assume that it takes an average of five minutes for an employee who earns $20 per hour to search for and locate a needed document in a file cabinet, retrieve the information needed from the document, replace it and walk back to her seat. If she needed to take the file with her to get more information, we should expect that the time taken would be longer than five minutes!

If this employee handles not more than five files a day, this translates to about 108 hours spent a year filing documents. In monetary terms, this translates to about $2,166 a year at $20 per hour. If the number of files handled per day increases to ten, the labor cost becomes $4,333 for just one employee who does document filing in your business organization. That labor costs could have been eliminated if computer based business management system is deployed where every employee that needs a file would get it on the computer within seconds without having to even stand up from their chairs.

This system of filing also eliminates the costs of recreating lost documents and it makes business operation effective and efficient.

Steve Breault “DocMeister”

Steve Breault, Vircosoft Founder / CEO

Document management software is a management application that is sure to take your business ahead of the pack and it never hurts to be ahead. Business document management has increasingly become famous among all categories of business ventures irrespective of size. The increased popularity of DMS is primarily due to the fact that electronic business document management guarantees efficiency of data storage and it is no longer expensive as it used to be and it is obvious that many people are seeing the usefulness of the application to their businesses all over the world.

Among the numerous benefits of using business document management software (DMS) are the following.

All business documents stored electronically: When you adopt DMS in your business, all your business documents can be stored electronically and that maximises the speed of document storage and retriever process. So, searching for any document or for a specific document or documents containing a particular phrase or phrases which could have taken much of your time before becomes easier with DMS; you are such of getting your search results instantly. No wonder many have likened the business document management software to a magic.

DMS saves time and costs: Time is what is regarded as very valuable in modern business as ever, so that document management software helps to save time spent in managing your business documents both storage and retriever. Your employees can therefore utilise more of their time on other important tasks within your business which of course will save costs since more work will be done in less time. That is sure to improve your business fortune in more ways than could have been imagined.

DMS and document indexing: Document management applications help to give real reference structure to documents and that is what makes searching for the stored documents easier. With a robust indexing system, the DMS enable fast indexing and retriever of documents by content with the aid of full text tagging of documents.

Ease of DMS integration: Most business document management software integrates seamlessly into any Microsoft Windows application system. SQL or Oracle files and Windows Active Register or LDAP protection devices can be integrated as a functional part of DMS and it can be applied without any hassle into factually all business company structure.

DMS and ease of access to records: Through your computer systems, your employees are granted access to important documents from anywhere in real time with the use of DMS. However, a secured multidimensional system allows employees to see and edit only the documents they are granted access to.

DMS and business customization: To ensure your business gain competitive advantage, business document management software applications can be adapted to suit your business needs and also guarantee the efficiency of your business set up. If you are looking for such a DMS product, it is good to ensure you acquire the one that will incorporate the seamless integration of your business infrastructure.  Document management software has imaging capability that promises amazing customization and it is sure to be the product to enhance your business operations.

Steve Breault “DocMeister”

Decisions in any business are based on organizational knowledge. In today’s business environment, this knowledge rests not only with some top executives of an organization, but also with the databases and documents that an enterprise maintains. It’s the speed and accuracy with which information can be retrieved that the success of a business largely depends. Digital document management has made it possible to create and store information, and organize it for easy retrieval.

There are generally two types of documents that any organization handles, one that is produced by the organization and second, received from the outside. Most of this documentation in the form of financial statements and monthly or yearly reports come in handy for analysts to formulate future goals and assess current status of the business. Critical information is also received from the outside in the form of invoices, suggestions from clients or customers, letters of complaint and so on. This data comes in several formats, both electronic and paper.

Document capture forms an important part of recording every piece of information received by your organization. If you do not convert paper documents to digital format, it cannot be included in your analysis. This can be of great importance when making critical business decisions. Though scanning a document converts it into an image, it’s of no value without the corresponding metadata which makes it searchable and retrievable. Document management software provides a unique solution to this problem, as every data from a paper document can be captured and stored on the computer.

Document capture can be defined as a process that converts paper information into electronic format, which can then be processed and stored using various technologies. Some important components of the document capture process are:

Scanning or document capture: When a document is scanned it produces an image on the screen of the computer which can be stored on the computer like any other file. Several factors must be considered when choosing a scanner depending on requirement and average number of documents likely to be processed every day. For instance, size, quality of paper, volume is some factors that you must keep in mind. Scanners are extremely handy and can process a variety of documents, from business cards to engineering drawings.

Automatic document feeder: Optimum use of document management software can be made only if you have automatic document feeder. This device feeds paper automatically into the scanner and speeds up the process significantly. The device is quite useful for processing bulk documents such as invoices and forms.

Speed and accuracy: Speed with which documents are processed by document management software decides the quality of the document. Ideally, a standard sized scanner can process anywhere between 6 to 200 pages per minute. However, considering optimal performance, a processing speed of 20-30 pages per minute should suffice for everyday use.

Image cleanup: Most scanners come with enhanced technology to apply cleanup techniques to increase accuracy of data. Contrast adjustment, noise removal, rebuilding broken characters and cropping borders are some of the cleanup techniques used in scanners. This helps in capturing all the information in the original document without compromising on its accuracy.

Data extraction: As in the case of paper documents, digital document management too requires extraction, storage and appropriate indexing of useful information. Document management software normally has an indexing system which organizes documents in form that can be easily searched and retrieved when needed. As such, accurate extraction and storage of information is one of the most important features of any document capture solution.

A digital document management system must perform various tasks to make the scanned data readable and useful for the organization. As each type of document needs to be processed in a different manner, the document management software must be customizable to meet these requirements. New technology has provided a great tool in the form of document management systems to maximize productivity and increase profitability, and is one of the best investments that you can make for your business.

Steve Breault “DocMeister”

Steve Breault, Vircosoft Founder / CEO

In today’s dynamic business world, there are a lot of expectations from a company in terms of administration and services offered. A company today is expected to offer world class services to its clients, increase profitability and keep costs to a minimum, all at the same time. Balancing these expectations is a huge task for a company, no matter what its size. In such a scenario document management software can be of great help as it offers a multitude of features that can be used for streamlining the document processing system.

Business document management can help resolve critical problems that an organization faces on a daily basis. Document management software enables an effective way of processing and distributing information throughout your organization. For instance, a digital documentation system eliminates many limitations of a paper based system such as misplaced original documents, inconvenience of retrieval from a remote location and slow distribution.

Apart from this, document management software has several features that make it possible to manage millions of documents and retrieve them within seconds. Being computer based, such a system also makes it easier to share and distribute documents through email, fax and other file sharing systems. Remote access also makes it possible to search and retrieve documents instantly while traveling or when in a meeting away from the office. Digital documents can also be backed up easily, making it easy to recover documents. 

Choosing the right business document management system specific to your business requirements is extremely important. Following are the key features that you must look for when selecting a document management system: 

Automatic data capture to incorporate documents into the system: The three critical features you must look for is scanning, import and conversion of electronic documents. Scanning allows you to convert paper documents into their digital version, which can then be stored on a computer. The indexing feature enables systematic storage of scanned documents which can be easily retrieved. Apart from this, a document management system allows you to import electronic files such as text, images, audio and video, and supports a variety of formats. Other files formats such as word documents and spreadsheets can also be converted into PDF and TIFF files and imported into a document management system. 

Storage and archiving: Document management software offers easy storage, backup and retrieval system. Storage is a major hassle with paper based system, both in terms of space occupied and safety. On the other hand, a digital document is much easier to manage and store. For instance, copying an electronic document onto a storage medium such as a hard disk or CD is much easier compared to creating paper copies. Similarly, a virtual repository is easier to manage compared to a physical one, both from security and location points of view. 

Sharing and distribution: Sharing of paper document is always prone to risks such as loss of document or accidental misplacement. Instances of time wasted looking for misplaced documents and recreating originals are many. A document management system can be accessed over a network, making it easier for you to share important documents. Employees need not pass a document from desk to desk or wait for a colleague to finish his work before he can access the file. With document management system it is possible for multiple users to access the same file at the same time. Similarly, electronic documents can be easily distributed through a network, fax, email, and so on.

Security: This is again a very big concern in paper documents. Not only are paper files prone to misplacement, they are also vulnerable to theft and physical damage. Although digital documents too are susceptible to physical damage, the easy backup and recovery eliminates this problem very effectively. Apart from this, the access control system in document management software allows only authorized personnel to access the files. Similarly, different levels of security can be set up depending on the requirement. For instance, a file may be read-only for a department, whereas modification or update rights can be given to higher management or others as needed. 

There are many more benefits offered by a business document management system that helps create a more systematic approach to document processing. With the right solution for your office you can not only dedicate your staff towards achieving your business goals, but also empower them to make informed decisions. 

Steve Breault “DocMeister”