2009 13 Dec

Electronic Document Management- Reasons Why?

Despite of a company’s size, most businesses have by now adopted some kind of an electronic document management system, but they more often than not do not think of it in those terms. As a result, the system is often unfinished ; it may include word processing, spreadsheets and a backup system for storage, but they rely on a number of manual paper document processes, as well. The files may be distributed in a variety of ways, either by mail, fax, email or courier. Actually that most companies already possess a “hybrid” document management system consisting of paper and electronic files which can be extra complex and include more costly manual processes than are essential. Any excessive operating costs relating to documents are typically considered part of “the cost of conducting business”.

In the meantime, even when a company is set with its own IT department, the employees are already working frantically just to keep up with the accelerating pace of business and the currently existing technology to deliver it. Basically, all businesses must attempt to balance their first line of business with the second and third lines: files and technology. Upon coming to grips with this reality, three essential questions should be considered :

1. How much do Lines #2 and 3 cost just to maintain the first line of business?
2. How much more will be spent as all IT and file management costs rise?
3. How much more should it cost to gain extra profits and business with our present system, or with a better system?

“Full Integration may be reasonably priced “

Again, what would a company’s main objective be in improving their total enterprise document management systems? The answer, streamline for the lasting and increased profits. Sight of this goal should never be misplaced. When huge amounts of money and time have been invested in a hybrid structure, it would make sense to think of keeping that initial investment and just reinvest the dividends. Options may be available to retool an already existing system so that it works at the highest potential. When possible, it might be suggested: be flexible, don’t scrap.

This communication is especially significant for businesses either facing the regulatory compliance issues mandated by the Sarbanes-Oxley Act, or those trying to manage tons of paper documents inherent to certain industries, for example lending or insurance. These issues frequently appear to be problems connected solely to document archiving, but the actual difficulties may arise from an earlier stage in the document lifecycle. A specialist in enterprise document management systems may be able to examine the current systems and conclude that additional physical or electronic storage is not as necessary as a solution implemented in the creation or circulation stages of a document’s life. Therefore, while investigating remedies for document management systems or operational streamlining, it may be that you already have everything you require, but you just haven’t discovered the right approach or instrument to make it all work at maximum ability.