How to Manage Thousands of Documents in the Cloud
If your industry is growing and/or your staff is shrinking, it’s tough to keep pace with paper-based processes. Electronic systems are proven to make companies more efficient, so, instead of getting buried by success or defeated by lack of personnel, maybe it’s time to consider an alternative to your paper-based processes. Here’s how one food processing company stayed ahead of their growth.
The increasing number of health-conscious consumers equals big business for many natural and organic food companies. When the accounting department in one natural foods company began to have trouble staying on top of a growing number of invoices, it became apparent that something needed to be done, and done fast, in order to speed workflow. One very smart comptroller realized that increased volumes of paper invoices were the problem and that without a better way to manage these documents, the accounting department was permanently hindered from properly managing company growth.
He knew that they needed an Enterprise Content Management (ECM) system that would save time and help them work smarter.
By scanning invoices, then storing and accessing them in the Cloud, this savvy accounting department has been able to improve invoice processing efficiency, retrieve and pay invoices more quickly; and, they’re also saving money on paper storage and management costs.
By implementing a secure Cloud ECM and establishing digital workflows, this lucky A/P department can now retrieve documents in seconds, while effectively managing growing quantities of invoices and related documents with the same number of employees. The system also eases financial auditing burdens.
Key Benefits of Changing from Paper to ECM
- Reduced document retrieval time by 97%, from 15 minutes to 30 seconds
- Eliminated 150 filing cabinets and will be able to repurpose 2,000 square feet of storage space
- Saved 40 hours during end-of-the- year financial audits
- Avoided hiring more employees for document archiving during business growth spurts of more than 16%
- Improved employee morale by empowering staff to efficiently manage information
Deciding on a Solution
There are many different ECM products from many different manufacturers, and it pays to investigate the options. If you’re new to ECM, look at a variety of products. Compare the solutions. Look for products that are easy to use, scalable and flexible. Find out how quickly they can be implemented.
Make sure you have a way to scan incoming paper documents once your ECM is operational, because you’ll still be getting paper invoices and documents in the mail. For convenience and increased efficiency, many companies set up an off-site, outsourced mail room where the incoming paper is converted and loaded into their Cloud, totally eliminating the need to handle paper at all.
Success with Cloud ECM
The biggest ECM benefit is improved productivity. By having a Cloud system that makes information available, 24/7 from any location, staff members can retrieve documents as needed. Documents are never misplaced, and the accounting team spends more time focused on their primary job duties. As a result, employees save nearly 15 hours each week and have the documented evidence they need to resolve any invoice disputes.
Moreover, a Cloud ECM system provides room for future growth. With scalable solutions that aren’t bound to any one geographic location, additional facilities are easily brought on-board. Because of the success with their Cloud ECM for accounting, this company plans additional implementation of paperless processes in other departments.
The business analysis department will begin using it to effectively manage pricing and deal tracking documents, turnover reports and facility leases. They are also considering expanding their ECM solution to help the human resources department cut costs and maximize productivity. Thanks to Digitech Systems for sharing this success story.