6 Reasons why a DMS quickly pays for itself

The size of a company is not really a factor when deciding whether it is worth implementing a Document Management System (DMS). The reality is, that with the right DMS, work processes will become more efficient, costs will be reduced and, as a result, the quality of the processes will increase in EVERY company.

 

Read on to discover 6 reasons why a DMS quickly pays for itself.

 

1. Fast Retrieval of Information

30% of work time is “wasted” searching for information (Source: Gartner Group).

The laborious, time-intensive, often unsuccessful data searches in an insurmountable mountain of information are part of everyday life for many companies. This time spent searching leads to uneconomical work processes, unhappy customers and over-burdened, demotivated employees.

Instead of creating new information every time, reuse existing data (data redundancy). Find, don’t search with the help of intelligent database queries and full-text search.

 

2. Faster Processes with Workflow Management

With a DMS you will literally feel processes improving, thanks to the rapid preparation and the efficient exchange of information.

Documents are created, saved, worked on and distributed. The information exchange between those parties involved in a process is given optimal support.

 

3. Version Management

• „Current Product Brochure.doc“
• „ New Product Brochure.doc“
• „Old Product Brochure.doc“
• „Ancient Product Brochure.doc“

So, which one is the right/current document? Answering this question is also a widespread problem in business and often leads to work being done on old documents that should no longer be in circulation.

With a Version Management Tool personalized to your needs all information is clear, current and reliable.

 

4. Reduction of Space and Material Costs

In many companies it is still often the case that documents are copied, printed out, and distributed to be filed in various locations – unfortunately often in different versions. Assuming that printing costs are about 50 € per page, it is easy to see that is an area where savings can be made.

A paper archive requires a lot of space. On one 8GB DVD, for example, you can store 162,000 pieces of paper. This literally means that you would need 36 binders taking up 27 ft of shelf space to store the same information.

With a digital archive you can save up to 80% of your paper storage costs.

 

5. Faster Access to Documents regardless of your Location

Imagine you are visiting a customer in Asia and need some important information immediately from Germany.

No problem – A DMS doesn’t have a time zone or opening times.

 

6. Secure Archives while meeting Legal Requirements*

Archived processes contain documents that have to be stored without being changed. This not only fulfills legal requirements, but also helps you to find information that you had long forgotten about.

Not all companies are aware that for many years the law has required companies to follow many requirements regarding secure archiving of data. It is necessary to differentiate electronic communications between files that are received and those that are sent. Everyday business correspondence, such as purchase orders, delivery notes, invoices, contracts etc., must be organized as business letters and must be handled according to the law. According to the tax law it is required that all business correspondence is kept for six years. It is also necessary to archive all emails that could relate to your tax situation such as invoices, inventory reports, year-end numbers etc. These must be kept for 10 years in certain countries.

 

*Rules and laws may differ between countries. Be sure to familiarize yourself with your local laws.

 

 

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