However, still there are few multi-national companies who are known for their highly advanced record management services. But inconsistently the cost of their services are very high and cannot be afforded by most of the small and medium class business in India.
If we see what is the most important asset in today’s business. No matter which type of industry you operate, records and documents are the most valuable assets. we can have. Records and documents are required to make business decisions for an organization. It is required to evaluate their products and markets. It also required to transact business with internal as well as external stakeholders formally.
The market of document management is flourishing at a very expending rate and so is the number of service providers. But unfortunately, many of these so called document management service providers are quite new into market and they do not possess adequate infrastructure, money, and the most important experience which is mandatory to run the basic operations of any large scale Document Management process. Moreover, the market is full of thugs who are desperately waiting to dupe businesses like ours.
But there are several advantages of having a good Record management or document management system.
Workflow Improvement- It’s always expected that most business process would entail connection with both internally ( department to department) and externally ( third party). For instance, many people creates document, others reviews, then some approves and finally after every check is done, document is dispatched with record/ document management systems. It is completely possible to utilize validation rules and carry out specific actions on you documents, such as metdata capture, classification of documents electronic signature and these all without human involvement. This helps the business by gearing up the process as well as increases the quality of process by 20- 40% of operating revenue costs are caused by poor data quality.
Retrieval is easy- According to survey done by Gartner, An average organization spends minimum of $120 in labour to fetch misfiled record and another $220 in labour to regenerate a lost document. If we go further this research reveals that 7.5% of all organizational documents vanish into thin air while 3% of the remainder gets misfiled. Also, most of the employees will spend only 15% of their time in consuming information, but will eventually waste half of their valuable time searching for it. To avoid it an organization requires to implement a reputable document management system to manage record, which can retrieve files by word or phrase in a document or can also apply index categories to a document or folder. Some system also make remote retrieve a reality.
Advancement in security- One of the biggest challenge of any organization or any business is to keep its document/ record safe and secure. Security is foremost challenge for most of organizations. Manual document management system is never watertight to protect all the sensitive information from leaking to malicious people. With the help of strong Document management system, you can control who can access the document and till what extend like who should have normal access to documents and who should have admin access. Also, many document management software leaves an audit trail to let you know who viewed and edited your document as well as at what time the document was accessed.
Better Collaboration- A good document management system can access records from multiple locations. Also, using electronic imaging it becomes more easier to share record/ documents over electronic document management software. Collaborates can know when a shared document has been accessed and edited or modified by other collaborators.
Records and Documents are the lifeblood of every business. An organization which manages its documents efficiently makes sound business decisions, and are able to cut business costs efficiently and smile all the way to the bank. Make the decision to rebuild your document management strategy. Be sure which record or document management is an excellent fit for your organization, which enables you to cut down your business cost, increase your business productivity and improves your workflow effectively and efficiently.
We should take care of the implementation of record/document management system. No matter which scenario, transitioning to a advance or totally new method of handling our business activities which can be tricky for some companies on daily basis. Fortunately, implementation of some document / record management systems are completely an easy process that doesn’t lead to any major issue or headaches. In order of doing this , there are also things that can be done to streamline the experience for your employees.
Clarification in the importance of making the transition- The time you decide to transition to a document/record management system, there’s always a chance that few employees will always question the reason for doing so. If anyone is set their ways, they may need something convince them to try something new. Give your staff a knowledge on the benefits of implementing a document/record management system is an fabulous way to kick-off the process, dispelling any curiosities or concerns they have about the switch. Need to be sure to entertain the questions of your staff to the fullest degree, as the earlier you can iron-out any potential issues better.
Taking advantage of your vendor’s customer support.
No matter how well-versed you and your staff may be with using document management software, It’s essential to rely on customer support area when necessary. We proudly offer high quality support to each and every user which runs into issues. After all, there is nothing wrong with asking for a little help once a while when required, and your organization will only gets benefit from doing so.
Check-in with staff regularly.
It is always a brilliant idea to check-in with the staff after implementation of your new document management system, as it will ensure that no once falls behind from other. Large organizations are more likely there are chances that some people might experience problems. Hence making check-in are more important occasionally.
The feature and benefits that come along with implementation services of an adequate record management company can impact every part of an organization, and ignoring them in today’s competitive business environment is nothing short of irresponsibility. It’s time to take things to awhole new next level from today.