Documents, both digital and physical, make up the backbone of any enterprise. In the world of business, nearly every meaningful relationship that your organization has must be defined through documentation. Similarly, documents define the relationships between your employees, partners, and suppliers.
Tending to document control needs by yourself only works in the very beginning of a business venture – when you are still in entrepreneur mode. Once you have established yourself within the sector you are a part of, document control becomes a serious time-consuming task that takes away from business-critical productivity. Document control solutions and managed print services (MPS) are some of the most important ways you can streamline productivity.
Document Solutions Can Make Your Business Run Smoother
Below, we have listed some of the most important ways that document management solutions help small, midsized, and enterprise businesses improve efficiency and boost the bottom line.
1. Reducing Storage Needs
Commercial property costs are always rising – so, too, is the expense that storing paper documents on-premises represents. Software-based document management systems let businesses reduce their reliance on file cabinets, storage bins, and space. At the same time, documents that must be kept as hard copies can remain safe and accounted-for on an off-premises storage site.
2. Improving Regulatory Compliance
Federal and state regulations are in constant flux. Keeping up with them can tax the resources of even the best-prepared businesses. If you operate in a highly regulated sector such as public accounting, food preparation, cosmetics, or healthcare, then you need to pay even greater attention to regulatory compliance.
A third-party document management service can be of enormous help when adhering to strict regulation. The FDA, for instance, publishes annual changes to its policies in the food, drug, and cosmetic industries – maintaining compliance is much easier when document solutions are already accounted for.
3. Easier Document Retrieval
PricewaterhouseCoopers asserts that misfiled documents cost about $120 to retrieve. Reproducing lost documents costs even more.
Even if you have a perfect document management system in place, without a dedicated document control team, you are relying on trained professionals to do work that should be done for them – most professionals spend more time looking for documents than actually reading them.
Document management services take care of this problem entirely by creating a well-organized database for enterprise-wide document retrieval. Cloud technology further increases the usefulness of the service – you can access documents from any Internet-connected device on the planet as long as you have your login credentials handy.
4. More Efficient Collaboration
Better collaboration goes hand-in-hand with easier document retrieval. Not only can you access the documents you need digitally, but so too can your partners. Instead of copying the same document multiple times in order to get data into the right hands, you can now create digital workspaces where everyone involved on a project has access to the information they need.
At the same time, document management systems integrate version control features that encourage collaborative workflows. For instance, when a co-worker changes a document, both the revised version and the original can remain accessible to project members.
5. Secure Disaster Recovery and Backup Options
Backing up your own documents on your time is expensive both in terms of time and money. A document solutions company can automate business continuity backups so that your documents are safe even when disaster strikes.
The fact that your physical documents can be held off-site represents an advantage when considering natural disasters. At the same time, having your digital documents encrypted safely on a secure cloud platform dispels any fear of cybercriminal activity.
Document Solutions Offer Peace of Mind
Perhaps the most important intangible asset that third-party document management offers is peace of mind. Spending less time focused on documents and more time focused on the data they contain decreases stress for executives and decision-makers throughout all levels of business.
At Donnellon McCarthy Enterprises, we have deep experience in organizing documents for businesses both large and small – contact us today for a quote.