The coronavirus pandemic proved just how fast the world can change — and how important it is to be able to adapt. Within weeks, for instance, businesses that traditionally operated on-site had to cobble up a functioning work from home setup, thanks to shelter-in-place orders given to curb the spread of the disease. Agile companies were quick to adjust and fared well — others, not so much.
As a business executive, you’re probably wondering how you can make your company agile enough to weather the new normal or the next big change. One of the best ways to do so is to invest in the right technology. And one of the best technologies to invest in is a document management system or solution (DMS) like PaperSave.
How does a document management solution improve your business agility?
There are four ways a document management solution can improve your ability to adapt to business challenges:
1. It simplifies the way you manage information
The different segments of your business depend on information to accomplish their tasks and maintain operations. Your accounts payable (AP) team, for example, receives, processes, and stores data about your business’s purchases, payments, and other transactions. These details give you insights to help you make sound decisions regarding your business’s cash flow.
But to make the most of this information, it has to be managed properly — and that’s exactly what a DMS does. PaperSave, for example, allows you to capture data straight from paper documents through your smartphone’s camera. Just take a picture of the document and PaperSave’s Electronic Document Imaging technology will convert the data into electronic files that are automatically sorted and stored in off-site cloud servers. This feature increases the speed and accuracy of your AP process.
2. It improves your flexibility
As the pandemic has shown, businesses must be able to operate outside a traditional office to survive. But you can’t do that if you don’t have remote access to crucial business information.
Most DMS solutions today are cloud-based, which means that the data they manage can be accessed anytime and anywhere, as long as you have an internet connection. This makes a DMS a key technology when implementing a work from home policy.
PaperSave stores your data on multiple off-site cloud servers, which offers two important benefits. First, it protects your data from being damaged by disasters in your area. Second, it keeps multiple copies of your crucial files. These backups prevent data loss resulting from malware attacks, accidental corruption and deletion, and damage to your main storage servers, making them essential to business continuity and resilience.
3. It eases burden on your staff
For your business to survive, your staff must have a clear focus on their job responsibilities. They can’t do that with repetitive tasks bulking up their workload. Lightening up their load would, therefore, work to your business’s benefit in the long run.
A DMS can help you accomplish this by simplifying repetitive steps in your operations. In the AP process, for instance, a DMS eliminates the need for manual data entry, a step that’s both slow and prone to human error. The solution also allows users to search for the document they need as they would when doing a Google search. This approach is much faster than scouring through piles of documents. These streamlined processes give your staff ample time to focus on mastering their tasks and improving their skills.
4. It boosts your security
Another important lesson the pandemic taught us is that worldwide disasters don’t deter cybercriminals. Proof of this is the increase in COVID-19-themed cyberattacks in recent months. When planning for your business’s future, always consider how you can protect vital data.
A DMS locks your data in cloud storage, allowing only users with the right credentials to access it. These files are also encrypted, bolstering their security by making them unreadable to unauthorized individuals. The cloud isn’t perfect, of course, but it’s one of the most secure storage locations for your data.
At PaperSave, we offer solutions that boost our clients’ agility and resilience, enabling them to face and conquer business challenges that come their way. Discover how we can help your business survive and grow in these trying times by scheduling a free personalized demo today.