Four Ways a Document Management Platform Reduces Operational Costs

Four Ways a Document Management Platform Reduces Operational Costs
  • 3
    Jun

Four Ways a Document Management Platform Reduces Operational Costs

Every organization looks for ways to reduce costs without sacrificing quality or efficiency. With this in mind, document management platforms are great news for industry leaders. Digital document management combines a variety of tools and strategies that take over the tedious parts of office work. After automating these time-consuming tasks, most companies see a jump in revenue as well as customer and employee satisfaction. Here are four different ways that a document management platform takes over the work that doesn’t drive revenue, freeing you to put your energy where it counts.

Business Processes

A document management platform streamlines your business processes while reducing the required man hours. In fact, almost every department in your organization has daily procedures that can be automated. Accounting, HR, sales, and customer service staff find that digital document management lightens their load and reduces operational costs. Send invoices, requisitions, signature requests, and more with just the click of a button. At the same time, receive payments more quickly and increase your customer satisfaction.

Security

Backing up physical documents is not only an enormous pain, it is a security risk. The more copies you have of sensitive documents, the more likely it becomes that they will be misplaced or fall into the wrong hands. A document management platform secures and backs up all your essential documents automatically, meaning that your company is protected in the case of a natural disaster or security breach. Additionally, the right people have access to your files at the right time without the need for physical storage or security.

Paper Costs

One sheet of paper seems so insignificant that it’s easy to forget how paper costs accumulate. However, some estimates claim that the average 100-person company spends over $100,000 in paper costs alone! In terms of operational costs, that is no small number. To prevent paper from hampering your bottom line, employ a document management platform for a paperless office. When you shift from paper to digital document management, there’s no more need to create paper copies of documents. Instead, you securely hold onto digital master copy which is available to any authorized user who requires it.

Team Member Effort

In a typical paper-based company, staff members spend countless hours storing and retrieving files. Not only do those hours cost the company payroll dollars, they also impact staff member morale. A document management platform relieves this burden, turning those hours of frustrating work into seconds and  clicks of a button. Also, a digital system increases interdepartmental efficiency by decreasing the time it takes for files to move from one person to another.

A document management platform is an investment in the future of your company. Not only will it keep your company relevant in a constantly changing world, but ultimately it will lower your operational costs. Interested to learn more? Contact MaxxVault today for more information.