No matter your industry, there are myriad opportunities to cut back on paper usage and increase the efficiency of your department and business. Integrated document management systems give users the capability to electronically capture and store documents, access files from mobile devices, streamline business processes using workflow, and automate file output—all of which leads to cost savings.
So which areas of your business are most paper-intensive? Read on to find out, and consider how document management in these 3 places would change your workplace.
1. Receivables: With a document management solution, you can digitize any shipping documents, packing slips, and other supporting documents and then associate them with the appropriate invoice in your Sage ERP system. This way, information can be easily retrieved, and a clear audit trail will be left behind.
2. Invoices: Does your business print out invoices to then mail them out? How much time does that take? What about money spent on paper and postage fees? With a document management system in place, you will save both time and money with a streamlined process. Forget about the invoices buried on your coworker’s desk; instead, you will be able to electronically process invoices through proper channels, approve them with just the click of a mouse, track the status of those files, and easily index invoices or any supporting documents.
3. Vendor Payments: Instead of cutting a physical cheque to mail to a vendor, why not send electronic funds? Document management solutions can convert associated documents into electronic files and automatically send them to vendors in their preferred file format. Vendors will appreciate the instantaneous payment—plus, you won’t have to worry about late or lost checks.
Other areas of your company such as Human Resources, Production, and Operations are also fantastic candidates for document management software, but many organizations find it easiest to start with Finance first and expand later. Remember, a good integrated document management solution will evolve along with your company, seamlessly growing into additional departments to provide new capabilities and efficiencies enterprise-wide.