By guest blogger: Greg Schloemer, President, DocuWare Corporation
Businesses of all sizes are being impacted by the economic down-turn; budgets are being cut and capital investments eliminated.
The question is why would a customer consider investing into a document management solution during these tough economic times? There are three areas that are of particular interest and concern for a customer. The first is managing money and cash flow more efficiently. The second is retaining customers and improving relationships to encourage more repeat business. The third is in the event of a reduction in personnel, that the appropriate procedures are in place and work effectively to limit legal exposure.
By automating business processes using document management (workflow) internal procedures are maintained, while at the same time productivity, accuracy, and quality are improved. One example is that incoming invoices can be automatically routed for approval without manual intervention along with all supporting documentation required to ensure prompt payment and associated cash discounts. Managing and automating business processes, particularly accounting processes, also significantly increases internal control-a key factor for both internal and external auditors, and for successfully managing any company, regardless of size.
Empowering employees with information can have a significant and positive effect on customer service and customer relationships. The customer’s experience is enhanced when their questions and requests are quickly answered and responded to. Customers are more likely to remain loyal, place additional orders for repeat business and will refer their associates based on their positive experience.
Compliance with internal procedures along with the retention of critical information is key to limiting legal exposure – one good example is in the HR department Document management facilitates the necessary documentation for hiring and terminating personnel. Access is limited to only individuals with the appropriate rights. Necessary documentation that is required for the human resource department to be in compliance with the various state, federal and compliance agencies is assured of being available. By eliminating much of the human factor, processing speed, accuracy, and elimination of lost or misfiled documents are all significantly increased, and retention cycles are ensured.
Why consider document management now? For the customer, document management provides tangible, proven benefits with a very strong return on investment (ROI) that encourages companies to implement solutions especially in these worrisome economic times.
For more information, contact Mike Fung-A-Wing at firstname.lastname@example.org.