According to IDC, companies lose 20 to 30 per cent in revenue every day due to inefficiencies.¹
It’s easy to see how these inefficiencies can creep in and take hold. What was once an effective means of managing a process within an organisation can be rendered inappropriate by factors such as business growth or diversification.
The mentality of ‘we’ve always done it this way, so why change it now?’ is also a difficult one to challenge from a cultural perspective. People tend to like what’s familiar. But what if what’s familiar is costing your business money? What if, by doing things differently, your people could be more productive and your business more profitable?
When it comes to document management, it’s easy to fall victim to outdated practices, such as reliance on paper-based systems and processes, inappropriate use of email platforms or outdated electronic systems. The good news is, it can also be easy to embrace and implement change.
“As a result of this new-found speed, opportunities for productivity to increase emerge, as users are no longer wasting precious, fee-earning time searching for documents inside email inboxes or static electronic systems.”
By taking control of document management (by storing files in a centralised, accessible, intelligent system that facilitates collaboration, visibility over a document’s entire life cycle, and uses meta data to tag files so they can be instantly retrieved by authorised users at the click of a mouse) processes become quicker and more agile. As a result of this new-found speed, opportunities for productivity to increase emerge, as users are no longer wasting precious, fee-earning time searching for documents inside email inboxes or static electronic systems. Neither are they going backwards and forwards between customers and other third parties to manage edits or approvals. Instead authorised users can co-author the same document in real time. These benefits combined increase efficiency and provide businesses that embrace such transformation with an undeniable competitive advantage.
Want to know how Document Management Systems from Contentworker by Formpipe can help your business operate more efficiently? Request your free demonstration today.