2009 11 Dec

Document Scanning And Document Management Systems Reduce Operating Costs Quickly

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

A document scanning system that automates manual tasks and eliminates time-consuming procedures will streamline business processes and let employees work more efficiently and productively. 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 essential to meeting this objective.

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

With a “paperless office,” the significant cost of copying and filing documents is slashed- and consequently 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 find a misfiled one, and $220 to copy a lost one! Knowing that 7.5 percent of all documents get lost and 3 percent of the remainder get misfiled, those savings add up fast.

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

Warehousing and office space overhead also decrease with electronic document management. Around 99% of office space taken by filing shelves and boxes can be reclaimed and used for income producing services. Document warehousing and storage is no longer necessary, as key business documents are always obtainable directly from the computer.

A document management system can be implemented quickly and easily with no capital outlay, and produce a disproportionate value in a short period of time. In fact, 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 customers 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. See where you can improve procedures, enhance the customer testimonials, and reduce waste. Once 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 eliminate redundancies and bottlenecks, improve employee productivity, and your bottom line.