• 3
    Oct

Three Ways EDMS Offer Return on Investment

Enterprise document management systems can revolutionize the way you do business. They can also be a sometimes hard-sell item to your superiors. Many CEOs don’t have to spend a lot of time manually keeping track of paper documents. They have assistants and secretaries that make tackling Mount Inbox a breeze. Pitching an EDMS (enterprise document management system(s)) is easiest when you can highlight the three key ways you’ll see return on investment in the first month.

 

1. Saved man-hours handling paper

Some of the objections to switching to EDMS is the idea that it really doesn’t take that long to file things by hand. This is especially prevalent in a workplace that already uses digital data for some of their sourcing. Printing and archiving emails can’t take that long, right? Faxing documents and scanning them takes a minute or two at most. People who don’t work with the paper documents directly often don’t realize how many man-hours are being sunk into handling the paper copy. Two minutes of work times fifty invoices a day is almost two hours spent only doing the manual tasks associated with keeping hard-copy archives up to date. That’s two hours (or more) a day that staff could be using to get ahead on projects or refine other systems.

2. Smooths workflow

Maintaining hard-copy archives takes a lot of time. So does using paper documents to actually get work done. For instance, when paper has to be passed to multiple people it slows down the process. Physically mailing documents can take up to a week or more, there is a reason it’s called snail mail. Even converting documents back and forth from physical to digital takes time at both ends. Scanning a paper, emailing it, and then printing it out in order to fill it in, costs workers time they could be spending on more pressing work.

Additionally, the best EDMS allow you to automate large parts of this process. You could have your system automatically invoice clients when a delivery is complete. You could have completed forms automatically save and copy other members of the department who will need the data. Enterprise document management systems offer return on investment through fewer missed arrivals or missing documents. Information can be transmitted and recalled swiftly so that workflow is not disrupted or slowed.

3. Document capture lowers human error costs

Short term examples of return on investment have to do with human error. Every company has to deal with loss of productivity and data from time to time. The best EDMS will actually reduce those errors by removing the human element from data entry. Enterprise document management systems will allow for direct document capture, ensuring that your data is entered, sorted, and filed correctly.

Outfitting your company with the best EDMS will save man-hours, smooth workflow, and lower the rate of error right from the start. Pitching how enterprise document management systems provide an immediate return on investments, shows how useful the system can be. The longer it’s in place, the more value you’ll get out of your EDMS.