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GOING PAPERLESS FOR SPEEDY TRANSACTIONS Many businesses believe they'll have to purchase new hardware in order to fully capitalize on

paperless document management software. The thought of restructuring and investing in new

database infrastructures has intimidated many professionals who are unaware of affordable

document management programs, ultimately stopping them from going paperless. Such

considerations have prevented organizations from joining the 21st century and reaping the

benefits associated with a faster, more cost-effective way of conducting business.

Aside from the aforementioned concerns, companies that have been around for 20 years or more

are simply used to working with paper-based transactions. It's not uncommon for a consumer to

have his or her floors redone and sign a tangible contract and a physical check after the job is

completed. Some blue-collar personnel unaware of cost-efficient document management

software could expedite their accounting practices if they choose to implement a digital solution.

Cost-efficient

There are numerous necessary documents that businesses throughout the United States handle

on a daily basis, from invoices and I-9 forms to legal records and employee training pamphlets.

More often than not, when company managers think of transitioning these materials into an

electronic format, they see a down payment they're hesitant to make. In contrast, the return on

investment is more significant than they'd believe.

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According to Top Ten Review contributor Brian Larson, labor wages and the time spent searching

for a particular document can result in a sluggish operation. Sure, an organization may have to

dish out $4,000 to implement advanced document management workflow, but keeping a client

waiting on the phone to look for an account record could tarnish a company's reputation and

negatively impact customer loyalty.

Larson exemplified a similar scenario. For the sake of argument, let's say an employee making $20

per hour takes 10 minutes to walk to a records room, locate a document in a filing cabinet, make

a copy, deliver that version to the intended recipient, re-file the original and return to his or her

desk. If he or she had to perform such a task six times a day for an entire year, it would result in

about $5,200 in annual losses from wages alone. In addition, if the records had to be physically

mailed to a client, this unnecessary step further hinders workers from continuing with their

business. [+]

A collaborative process

In order to survive in the private sector, enterprises need to make sure that they can conduct

business as efficiently and quickly as possible without disruption. Imagine if an employee

working at an office located 300 miles from headquarters could access a quarterly report

minutes after a business president uploaded the file? Sounds like something out of a dream? It's

not.

Wired Magazine contributor Natalie Lambert noted that paperless document management

systems allow workers from remote locations to electronically sign invoices, assemble and edit

presentations from multiple devices and quickly obtain information that can be leveraged to put

an organization ahead of its competitors. This means that a company possessing multiple points

of operation can truly act as a unified, cohesive force in the marketplace.

Lambert noted that internal and external documents, as well as statements proposals and bills,

are often printed because some enterprises lack the ability to communicate in real time. With

contemporary document management software, all files, projects, records and other materials

that typically exist in tangible form are held in in a vendor-deployed cloud. Though the

atmosphere is basic, it eliminates the need for businesses to spend hundreds of thousands of

dollars or more on implementing a complex cloud solution.

If a company has a desire to expand its operation capabilities, its leaders should consider investing

in document management software.

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