How Document Management Software Can Save You Money
Managing documents doesn’t have to be a headache—discover how a Document Management System (DMS) can streamline your workflow, save time, and protect your business’s most valuable files. As businesses grow, keeping up with documents can get pretty overwhelming. That’s where a Document Management System (DMS) comes in!
A DMS not only makes handling paper documents easier, but also improves efficiency, protects files, and increases productivity. Plus, it can save you a ton of time and money!
Ready to find out how a DMS can transform your business? Jump into our blog to uncover the fun side of document management and learn about how it can save your business money.
Understanding Document Management
To fully appreciate the advantages of a Document Management System (DMS), it’s essential to understand how it works first. We know that managing documents can be a bit of a drag. But there is a way to make it a whole lot easier!
Imagine a DMS as your super-organized assistant that never loses track of a file. This advanced technology solution helps you manage, store, and track documents like a pro. And because it’s all stored in the cloud, your documents are always safe and sound, just waiting for you to find them with a few clicks.
This powerful system turns document chaos into streamlined simplicity, making organization a walk in the park.
Helping Your Business
There are endless ways a DMS can benefit your business, but since we’re all about keeping your finances in check, here are 7 ways a DMS can help your business’s financial health:
- Security: The cloud-based DMS keeps your documents safe and sound, prevents data loss, and lets you lock down access to keep confidential information secure. It saves you cash by cutting out pricey security expenses, while also saving you the time-consuming process of recreating lost documents from old-school storage.
- Efficiency: According to GO Nitro (2015), organizations are losing nearly $20,000 per worker, per year due to time wasted on document challenges. (Source: Armstrong Archives). With this being said, a DMS turns document chaos into an effortless job. Employees can skip the endless search and recreating files. Instead, they just type in the file name and voilà—access, edit, share, and manipulate documents directly from the DMS, with automatic saving. This smooth setup helps employees maximize their time, reducing costs and improving profits.
- Lawsuits: Losing crucial documents like customer info, financial data, or confidential files can be a big trouble for your business. Imagine the chaos of being hit with lawsuits, legal fees, and settlements that could cost you thousands—or even millions—leading to bankruptcy. According to the University of Texas, 94% of companies suffering from a catastrophic data loss do not survive – 43% never reopen, and 51% close within two years. (Source: CIO). So, keeping those documents safe is not just smart—it’s essential!
- Storage: Having too much storage can feel like managing a mountain of boxes in a room that's overstuffed. Just like documents can pile up in a business, it seems there’s never enough space to keep things organized. Buying more storage might seem like the solution, but it just takes up more room and costs more money. Now, picture a magical box with endless space where you can easily organize and store everything you need. That’s exactly what a cloud DMS provides—a virtually limitless, organized solution to keep all your important documents in one place.
- Time Saving: 50% of knowledge worker’s time is spent on creating and preparing documents. (GO Nitro, 2015). That’s half of their workday tied up in tasks that might not be pushing the business forward. With a DMS, you could cut that document-handling time down to just a few minutes. This not only saves valuable time but also enables employees to focus on strategic activities that contribute to business growth. This is an easy way to maximize your investment and make every minute of your employees' time count!
- Paper Reduction: 50% of the waste of businesses is composed of paper. (Source: The World Counts). This highlights the significant costs businesses incur from paper use and its contribution to deforestation and global warming. That’s why a DMS is crucial—not only for saving money but also for protecting the environment.
- All-in-one: Juggling multiple platforms and apps for document editing is a thing of the past. With a Document Management System you get everything you need in one place. A DMS like Edi, for example, offers essential features like PDF editing, conversion, merging, and more—all for a single price. Say goodbye to wasting money on unused licenses and hello to a more efficient, cost-effective solution!
Is a DMS the Right Choice for Your Business?
Still on the fence about a Document Management System? Here’s a tip: if organizing, tracking, and managing important information sounds like a challenge, a DMS will be the best tool to streamline and improve organization for you and your team. Edi document management is a great place to start. If you are ready or would like to learn more, you can contact us at [email protected] or at 787-287-2777.
