How to Maximize Your ROI on Document Management Services

Though document management sounds like a complicated process that’s reserved for large corporations, it’s actually something that every business – of every size – does every day. In fact, your office is doing it right now as we speak. Simply put, document management is the printing, copying, and filing you do daily; it’s how you…

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Businesses need to deal with paper’s invisible footprint

Source: Businesses need to deal with paper’s invisible footprint | Information Age

The majority of business information is still spending much of its lifespan on paper, despite the fact that paper presents an ongoing challenge to businesses.

Last December, just as everyone was preparing to head home for the festive break, a worrying story hit the scientific research press. A team at the University of British Columbia had been attempting to collect original research data from a random set of 516 studies published between 1991 and 2011. They discovered that 80% of the scientific data that informed the studies had been lost.

They noticed that for the first two years after publication, data was properly filed, protected and stored. Then it started to disappear, at a rate of 17% a year. Never to be found again.

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Email-based Workflow; More like Work Trickle

Source: Email-based Workflow; More like Work Trickle

An important part of my youth was spent working on projects with my dad and my grandfathers. Being a little kid, my main responsibility was to fetch tools. (Eventually the adults realized I could be trusted to lift heavy objects and clean up after the work was done, too.) The thing is, we didn’t always have the right tools for every job but, when we did, things went a whole lot smoother. We finished in less time, and everyone seemed to get along better.

Many companies rely heavily on email as their “tool” to manage document-based workflow processes. A document is created and emailed to a person or group to review, edit, approve and forward to the next person or group in the process. This all seems pretty simple on the surface, but when compared to ECM (Enterprise Content Management) workflow, email workflow has some serious deficiencies.
The differences are clear from the start, when the required document is initially created. If only one person ever creates new documents, it’s easy to make sure the most current version of the document kicks off the workflow. However, if multiple people initiate document workflows, it becomes a challenge to make sure everyone uses the correct and most up-to-date version of the document. (For more on this, see one of our previous blogs.) If someone initiates the process with an incorrect version of a document, delays and the potential for errors both increase. With most ECMs all up-to-date documents are kept in the system, so any user who initiates a document process automatically kicks off the right document every time.

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The Impact and Inefficiency of Paper in the Office

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Source: The Impact and Inefficiency of Paper in the Office – The Paperless Project – Join the grassroots movement

According to PricewaterhouseCoopers, finding a lost document will cost a company $122 on average. It is also estimated that 7.5% of all company documents are lost completely. Let’s assume your company works with 10,000 documents – an extremely light figure. That would mean, about 750 of those documents are doomed to be lost, ultimately costing your company around $91,500. Plus, if you had to recreate any lost documents, the time and supplies involved would make that number jump well over the $100,000 mark.

Or what if a customer calls in with questions about a specific invoice? With a paper based filing system, the employee taking the call would have to hang up, walk to the storage area, search for that specific invoice, walk back to their desk and return the call. What if they need a copy? Then that employee must walk over to the fax machine, send a copy, return to the storage area and refile the document. This process can take up to 20 minutes for one simple question.

Are you paperless?

MCC’s Integrated Solutions Division provides your organization with the options to get rid of all that paper! With Cabinet SAFE, document management has never been easier. This technology helps increase efficiency, tighten security, save actual office space and reduce your carbon footprint. It’s time to look to the Cloud for paperless document management. Are you…

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6 Reasons to Take Business Paperless

Source: 6 Reasons to Take Business Paperless – The Paperless Project – Join the grassroots movement

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As digital technologies continue to evolve and become more widely accessible, it is no longer difficult to lead a life using less paper. Electronic bill statements, mobile apps, the advent of tablets and digital kiosks have simplified and streamlined everyday basic transactions that once involved high paper consumption. But is it possible for businesses to go paperless, too?

Habits die hard and people don’t like change, but it’s no secret that paper-based organizations are struggling to keep up with the new digital age. Manually processing business transactions is inefficient, time consuming and costly. But luckily, with the prevalence of cloud computing, digital signature applications, document management and business automation solutions, creating a paperless business environment is easily within reach. Everything from accounting, human resource requests, contract management, file storage and more, can be simplified by going digital. Consider the following six benefits any business can obtain from embracing electronic processing.

Paperless productivity makes you thankful to the core

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From: Flex CU Tech by Preston Packer

Paperless productivity makes you thankful to the core

This time of year promotes reflection on what we should be grateful for in our lives, from family and friends, to work and social life balance. It is a time to count our blessings, share our wealth with those less fortunate, and consider changes we can make to improve relationships and our own quality of life. And while Thanksgiving is a time for family and faith, the holidays often afford us time to evaluate changes we can make for the coming year to improve efficiency at work. Credit unions finalize budgets and plans with board members, and often the idea of a core system review is part of those discussions. When evaluating your current core technology, it is essential to consider how your core makes your work-life easier.

Consider paper, for example. Is your current core able to provide you and your members with the efficiency that paperless provides? If tellers are armed with scanners at their workstations, and can scan deposit checks and slips that then automatically integrate and update the member’s account within the core, you realize a time savings. However, it can also be a significant cost savings all around with reduced expenses associated with printers, ink, and paper.