The average office spends $20 in labor to file each document, $120 in labor searching for each misfiled document, loses one out of every 20 documents and spends 25 hours recreating each lost document. PricewaterhouseCoopers
What is document management?
According to the Global Community of Information Professionals AIIM, document management is the way your organization stores, administers and tracks electronic documents. Companies need to set up a digital transformation strategy to make sure they are responding to these changes at the same pace as the market.
Document management began in the 1980s with software developers looking to combined traditional paper-based documents with new digital technologies. Document management originally involved managing any unique physical document, such as printed documents, photographs, published documents, contracts, etc. As technology advanced through the 1990s and 2000s, document management diversified and grew enormously.
Today, document management encompasses all physical and electronic documents and files. Document management systems provide metadata storage, security and indexing, and recovery functions. All of this allows companies to easily store documents, keep databases organized and—most importantly —index documents so that they can be quickly retrieved.
According to the survey “The Digital Office – Improving the Way We Work” carried out by AIIM, modern companies often have disparate collaboration services, document sharing solutions and workflow products that are neither interconnected nor integrated. We can also see the following:
56% of companies have an Enterprise Content Management (ECM) system, often based on SharePoint, but staff mostly use conventional file sharing.
55% use shared folders to compile supporting documentation.
35% use open documents to collect information during meetings.
22% use the automatic circulation of schedules and minutes.
71% share using network drives and 15% share using files shared in the cloud.
48% of respondents believe that it is not easy for users to decide where to store things.
31% believe that their ECM systems are too complicated.
40% would like to simplify how they sign contracts, etc. with customers.
32% agree that approval functionality should be extended to mobile devices.
The average executive wastes six weeks annually searching for important documents lost in among the clutter. Wall Street Journal
Document Management Strategy
A document management strategy, which outlines precisely how to handle documents so that information can be easily created, shared, organised and stored, is critical. Ultimately it helps to smooth the flow of information throughout the business.
Having a document management strategy, particularly when implemented alongside an enterprise content management (ECM) solution, brings about several benefits, including:
- Increased workflow efficiencies
- Cost savings
- Compliance and risk reduction
- Protection of sensitive data
Here are 7 steps to follow to help you develop a strategy that focuses on the right aspects of document management.
Step 1: Assemble a document management team
Step 2: Evaluate your current processes
Step 3: Establish your goals
Step 4: Do an inventory of your documentation
Step 5: Develop your strategy
Step 6: Implement the strategy
Step 7: Conduct regular maintenance
Document Storage & Indexing
Drowning in paper despite your best efforts to modernize and digitize? Studies in recent years show the volume of paper in companies increases by more than 20% per annum as they grow. If this sounds like you, we can help you automate your business processes to save money and increase your productivity.
Every 12 seconds, a large business loses a document.
What do we offer?
CoreForm’s Document Storage and Indexing Services help curb the paper explosion and associated real estate costs. Our digital records management strategy means your data is safe, secure and searchable.
- High-quality batch scanning and indexing of documents
- Easy-to-use file structure
- Wide variety of options for quickly finding files
- Fast and flexible access to files
- Mobile access
- Integration to your systems
- Safe and secure digital storage
