3 Important Document Management Statistics You Should Know
Have you ever considered the impact that paper-based processes have on productivity and budget in your organization? While electronic records are increasingly popular as offices look to become more paperless, hard copy records management is still an important aspect. 80% of information is still paper-based in most organizations. Your staff might be spending more time on file retrieval, document scanning, and document shredding than they should be. Here are three document management statistics to consider when developing a records management strategy.
Document Challenges Account for 21.3 Percent Productivity Loss
How much time does your staff spend searching for information? Retrieving and organizing documents is a time-consuming hassle that leaves employees frustrated and unproductive. Are your hard-copy documents stored haphazardly in file cabinets or piled on someone’s desk?
If the majority of your internal workflows are still paper-based, such as accounting and invoicing, human resources, and customer service, you’ve probably been experiencing productivity loss. Instead, adopt a new document management strategy that electronically converts active files and manages them via a secure software. For older records that you’re required to keep for a definitive number of years, consider an offsite document storage provider to free up office space and take the burden of managing thousands of records off of your staff.
7.5 Percent of all Paper Documents Get Lost
If your organization is subject to heavy state and federal regulations, you understand that audit preparedness and compliance are absolutely essential. Imagine preparing for an audit when you discover that important documentation is missing. If hard-copy records go missing, you could be subject to heavy fines, not to mention the loss of your professional reputation and licenses.
Prevent lost documents with a secure offsite document management strategy. Offsite document storage ensures your records are organized and protected until you need them. Convenient record recall and delivery means that next time you’re preparing for an audit, the exact documents you need can be delivered to your office right away. Offsite records management removes the stress of data breaches and lost productivity due to misplaced files.
77% of Business Owners Want to Access Files Remotely
In today’s fast paced, technological environment, professionals need access to information 24/7 from any location. Say you’re about to board a plane, but a critical record you need is sitting on your desk at the office. Rather than waiting for a coworker to find, scan, and email you the document, wouldn’t it be nice to have electronic access to a repository of critical records via secure cloud software? Electronic records conversion and digital records management can transform the way you work, add more flexibility and productivity to your day.
Electronic content management software enables you to manage, organize and share vital records, automate workflows and enable your departments to run more efficiently – even when a team member is out of the office.