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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 interact with the documents you use to get your job done. It’s also key to helping your business improve productivity and security, and to everyone’s favorite benefit, reducing costs.
Despite talk of the “paperless office,” some 40% of all business processes are still document driven, according to a survey by Xerox. Switching from paper to digital workflows has the power to transform the way your business operates. In addition to saving time and money, digitizing paper processes can enhance collaboration, and even help to secure your data, a concern which should definitely be at the top of your list.
True digitization involves creating an end-to-end solution that includes document routing, storing, sharing and printing. It should also incorporate mobile print and cloud solutions, as well as state-of-the-art security. Lastly, it should automate your most complex document workflows to make your work day easier.
Here are a few simple guidelines to help you know you’re getting the maximum ROI on your document management investment.
It Boosts Security
Your document management should absolutely be addressing document security. Did you know that 43% of all cyber attacks that occurred in 2015 targeted small businesses? Or that a survey done by Keeper Security and Ponemon Institute found that half of all small businesses in 2016 had experienced a security breach within the past year?
The Xerox Small Business Solutions blog writes:
“The security threat landscape is enormously complex, requiring businesses to protect everything from their devices to their data and their networks, with many often overlooking the security vulnerabilities of today’s advanced multifunction printers (MFPs). For many SMBs, the answer is putting data security in the hands knowledgeable MPS provider with access to a range of services and tools which can be adapted and expanded as business needs change.”
It Lessens Your Workload
An effective document management solution should simplify the workflows you rely on every day – not create new ones.
A truly effective digitization strategy should allow you to use your digital documents the same way you do your paper documents – meaning, you should still be able to annotate, collate, and collaborate any way you see fit. Your scan/capture solution should allow you to create editable, searchable files that can be scanned right into existing document repositories, applications, and document management systems to simplify and automate your workflows. Done well, this should significantly reduce the amount of time and energy you’ll spend searching for information.
The Xerox CapturePoint Transformer App lets you streamline your document workflows even more by securely scanning documents and importing them directly into the proper apps, transforming paper into editable, actionable information. You can even create customized workflows such as scanning to email, FTP, shared network folders, USB and multiple destinations.
It Drives Real Value
Digitization should go beyond convenience to drive real business value. Results from IDC’s Content Workflow Automation Survey showed that organizations who made strides toward digitizing, automating, and optimizing their document workflows:
Reduced the percentage of time spent on document-related tasks each week by 17.2%
Saved an average of 3.1 hours each week on document-related tasks
Experiences a 3% reduction in paper documents
Decreased the time spent looking for and/or recreating lost or misfiled documents by 12.5%
Reduced the costs of storing documents by an average of 41.2%
The Role of MPS
Managed Print Services (MPS) provides a bridge between paper and digital. Naturally, digitization starts with scanning. But scanning in terms of digitization is complex. Digitization should be approached as an end-to-end strategy and most businesses need guidance when it comes to implementing an effective solution. Simply scanning document-by-document leads to additional challenges rather than lessening them. An MPS assessment can show you how to integrate digital and hard copy processes so that information flows smoothly, predictably, and efficiently throughout your organization. By implementing an end-to-end MPS solution that includes print, document workflow, cloud technology, security and mobile, you can accelerate your digital transformation and achieve the maximum benefits.
Better document management is a truly transformative process that can help you work better, more securely, and with lower operating costs. If you’re not sure where to start, our team can alleviate many of the pain points that have prevented you from making the switch – challenges like investment costs and potential disruption to your existing business processes.