Typically, Document Management means different things to different organizations. Some solutions are quite simple and others are extremely complex. Digital Document Management is the process of electronically capturing, storing, retrieving, routing, approving, and processing of business documents. Documents are captured and stored electronically in a central repository for easy retrieval and routing. The goal any document management system is to automate the processing of documents, increase efficiency and reduce associated administrative costs:
• Less Paper Clutter
• Less Printing
• Less Hardcopy Filing
• Find Information You Need Faster and Easier
• No More Lost or Missing Documents
While the implementation of a Document Management Solution can be costly to initiate, the savings can be substantial. Studies have shown that the average cost to process an invoice is $15. When some degree of business automation is initiated, the cost is reduced to $6. When a complete Document Management solution is implemented, the cost is reduced to $3. Before considering implementing any Document Management solution, you’ll need to consider the capabilities of your organization to develop, implement and maintain such a system.
Document Management - Simplified
Although sometimes technically difficult to execute, Document Management is basically taking your current paper processes and digitizing them. Simply put, this involves:
• Capture – Scanning of a paper document or accessing an electronically created document.
• Storage – Filing of the captured document in an electronic filing cabinet with a searchable header or key words to help employees find and retrieve the document.
• Business Process Management – Established process rules to ensure proper routing of the document for review and approval.
• Records Management – Applying security protocols for accessibility and automated document storage and destruction policies.
DynaCharge works with a number of third party software solution providers who can help you assess and implement a Document Management solution that’s right for your business.