In today’s business world, paperwork can be too much. For each piece of paper, someone needs to file it, do occasional retrieval as well as get storage space. When it comes to millions of pages of paper, this is often becoming a very time-consuming and expensive task. The costs mount up quickly, in the form of wages for employees who are in charge of filing and retrieving documents, as well as warehousing space required to place the massive quantities of paper files.
I addition to this, it is an ongoing task, requiring the time of countless employees. This is time which could be utilized performing the jobs they have expertise in. The opportunity cost for using paper filing include delayed client reaction time, squandered time, and wasted storage space. Therefore, use a paper filing system affects efficacy of a company negatively.
The Electronic Document Management System (EDMS) has several benefits. With an EDMS, you can just scan all your paper documents and throw them away, or even store them in an off-site storage. Every one of your files will be saved electronically, and they will be accessible from any computer in your working environment at any time. You do not need to be worried about misplacement of documents or someone already having the documents on their desk.
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The first cost of transforming to an EDMS is usually high, which keeps folks from trying it out. The said cost consist of the time and the amount of money to be used in scanning all the existing files into the company system. To save time, a company can employ a scanning service bureau to do the work, and this will sometimes be the least expensive system as opposed to paying an employee, who is probably less efficient. Regardless of the method selected, the initial cost could be substantial.
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Another way lots of companies can follow is not to scan their backfiles to the EDMS, but to begin scanning files today as they come in, and leaving all previous files as they were. By doing this, the firm can bypass a large portion of the primary costs, while still enjoying the benefits of electronic filing. The company can then convert the old files slowly as they start appreciating the system grows, allowing them to spread their cost over months or years.
Once a business is using an EDMS and an entirely paperless system, their efficacy is significantly increased, their reaction time for customer service is dramatically reduced, as well as their entire office clutter removed. These developments convert into greater business and more revenue.
This will even convince you more. The company is not in danger of having vital documents stolen, lost or destroyed due to some unexpected conditions, including Hurricane Katrina that destroyed hundreds of the paper records of businesses. The EDMS can backup your files offsite, so you cannot lose it or have unauthorized access to the documents, which is almost impossible to achieve with paper filing.