Digital transformation is far more than a trend — it’s the inevitable next step in the evolution of business processes. Running a paperless office is a part of that trend, but it’s not only about becoming more energy-efficient and reducing your carbon footprint. From a business perspective, it’s about reducing operational costs and supercharging efficiency with a cloud infrastructure that’s accessible anywhere.
We’ve often talked about the benefits of document management systems (DMS) here on our blog. For the education sector, which routinely deals with huge amounts of both printed and digital information, a DMS is even more valuable, especially when you factor in the relatively low technology budgets many schools are faced with. If you’re still not convinced, here are three schools that have benefited enormously from using PaperSave:
West Virginia University Foundation
The disbursement department of the West Virginia University (WVU) Foundation processes more than 1,200 invoices and 800 credit card transactions every month. Previously, all their invoices were paper-based, which made it especially difficult for their three-person team to review each one. As a result, there were often delays in processing payments, not to mention the fact that one fiscal year was enough to fill up 20 filing cabinets.
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After migrating to the PaperSaveCloud, the WVU Foundation was able to shorten the process of reviewing and paying invoices from 26 to a maximum of five business days. Furthermore, after digitizing their documents, all the information became easily searchable, thus cutting hour-long document search requests to mere minutes or even seconds. The result was a faster and more streamlined invoicing workflow.
Excelsior College processes an average of 25,000 invoices per year. Their biggest challenge was ensuring they were delivered, approved, and returned on time, which was complicated given the fact they needed to send them via interoffice mail for signature approval. Needless to say, it was a relatively lengthy and inefficient process. Moreover, the annual audit process would take many hours to gather the necessary materials.
By moving to PaperSave, Excelsior’s financial team was able to deliver electronic images of their invoices at any time of day directly to the correct parties using workflow automation. By tapping an Approve button, timeframes were slashed by more than half, and processes that previously took one week now only take two days. Advanced document capture also dramatically reduced data entry and their use of filing cabinets by 50%, not to mention huge savings in purchasing tons of envelopes.
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Washington and Lee University
The development office of the Washington and Lee University in Virginia found themselves in desperate need of an upgrade. Before modernizing their processes, the team was faced with over five decades of documentation that only kept stacking up. Another cause for concern was the fact that the file room acted as a single point of failure, potentially vulnerable to factors like fires, theft, or natural disaster.
Acting upon a recommendation from a consultant, the university decided to make the move to PaperSave, since it would allow them to integrate scanning into their daily process and thus digitize their entire document collection. The integration proved to be quick and seamless, and no one on the team has had to handle a paper document since. Furthermore, employees working remotely have since been able to access files anytime, anywhere, thus improving workforce flexibility, mobility, and morale.
It’s clear that PaperSave is an easy choice for schools that want to transition to a paperless environment. But even if you’re not in the education sector, cloud DMS offers a host of benefits for any business.