Each business needs to manage their documents. And different businesses do this in different ways; it can be by using a file cabinet, or in a brimming hard drive or a cloud-based server farm. Document management is one of the most important tasks for every business and the same needs to be done carefully and at high priority. As a document management service provider, we help organizations manage their information in the most efficient way. Before that let’s find out if you are one of those companies whose document management is suboptimal.
5 Signs Your Document Management System Is Failing
1. You Have A Data-Entry Personnel
Do you still have an employee responsible to manually enter data from invoices, purchase orders, and expense reports? Well, if yes, then it’s time to consider digitizing all that paperwork. Having all your documents digitized and scanned would help you bring in overall efficiency in storing and sharing documents. The flow of data becomes much easier and it also helps to bring down costs.
2. You Are Paying To Store Documents
Storing files on the site, in boxes in a storage area, in rows of filing cabinets, or professionally archived by a third party, all this involves some cost. Think again you are paying way too much just to store documents.
3. It Takes You More Than 5 Minutes To Search A Document
Having digitized documents makes finding documents much easier. Yes, it’s just a matter of simple keyword search. But if you still bank on paper files, searching documents can involve a lot of time. Searching hard copies involves going through names, dates, keywords or associated terms, but with a digitized system, you don’t need to have those precise record numbers or name.
4. Are You Using Wrong Version Of Documents
Since documents are used by multiple users, there are chances that many users would save duplicate copies of the same document in multiple locations. Duplicate documents eat up unnecessary space and can also lead to versioning issues. This can complicate and reduce the productivity of your organization. Are you certain that you are using the most up to date version of the document?
5. You Are Non-Compliant With Your Industry’s Regulatory Requirements
Many industries have regulatory requirements which need to be followed. This holds more important for the insurance and financial services industries. A document management system enforces every business to follow certain rules, maintain proper record keeping and automate security features.
So, are you ready to take the first step to acquiring a more effective document management solution? Contact iSN Global Solutions for details on our advanced Financial Document offerings and find out how our robust range of services can help you improve your business.
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