Successful digital document management has a large range of benefits for all businesses, regardless of whether they’re a diesel engine reconditioning service or a corporate office business.
This management is especially crucial for those that have some level of remote work in their model. Likewise, digital document management is critical for freelancers who work remotely. If all other elements within the business have a smooth process, document management can be the downfall, affecting the entire productivity of business processes. For this reason, it’s important to have a form of management in place.
The Association for Information and Image Management International states document management is “the use of a computer system and software to store, manage and track electronic documents and electronic images of paper-based information captured through the use of a document scanner.”
For instance, use an employee starting a new role as an example of document mismanagement. The onboarding process can be significantly busy and overwhelming so files can be saved in random areas and tracking how to access files can be difficult. When they do then go to source files throughout their tasks, they can waste hours sourcing required documents if there is no document management system implemented. This adds difficulty for all parties involved.
This difficulty doesn’t just stop at new workers but experienced employees, too. Remote workers will, more often than not, need to access documents daily. If each worker spends an extra 20 minutes a day sourcing information and files, this adds up to a total of 1 hour 40 mins every week. Think about how much this will be collectively in wages for the time wasted. This time could instead be spent on bringing in actual revenue for the company.
Here, this article dives into just how document management is critical for business success when working remotely.
1. Index content
You have the option to index content best suited to you and your work when you purchase a document management platform. Indexing content essentially is the labelling and coding of your files, ensuring you have fast access when you wish to access documents. In this manner, you can organize in a way that is unique to your business.
Touching on the unique element of indexing content, you are then able to search for a file through a technique that naturally feels instinctive for you. There is no need to memorize titles or descriptions. You can simply type in words most likely to be in the content from memory, allowing for quick, intuitive access when you’re busy with a full workload.
Let’s say you are diesel engine reconditioners that need to keep track of finances. Indexing financial documents in a manner that suits you can benefit you by being a form of file organization that works for your personal business situation.
2. Save time
While remote working has many benefits, you can’t necessarily quickly ask colleagues or employees to access certain information. The mismanagement of files can therefore result in a collective number of hours wasted searching for information and waiting to hear back from people each week.
Wasting unnecessary time can easily be altered by taking advantage of document management systems and technology. This time wasted is time that could be utilized for tasks that actually contribute to the business.
Simple Document Management systems and platforms act as a suitable solution. With technology advancements, cloud based solutions allow you to easily source information from any device while mitigating security risks.
3. Boosts profit
With strategic time management and optimizing all work hours by effectively filing documents, the time saved having to search through files can be allocated to doing business that directly brings in profit. As a result, you can boost the overall profitability of remote work. Smooth dissemination of files by easily accessing and sharing files, regardless of location, smoothlines all business processes, bringing more money into the business.
The amount of money you do earn from utilizing these systems is dependent on the number of employees in your business, the industry you are in and the length of time you already spend sourcing info. The rule of thumb is the more time saved with these additions, the more money your business will bring in.
While it will cost you up front to purchase the file management software, overall profits will likely increase in the long run. For this reason, budgeting is important.
4. Extra security
With advancement in technology, data breaches have increased globally. For those who work remotely and primarily use technology, this puts anyone at risk of security breaches. Once hackers have access, they can retrieve personal information as well as client and customer information. In just one data breach, your business could be in danger of survival.
Document management systems add a level of protection against security risks. As these systems’ main purpose is the filing of digital documents, they have a larger incentive and budget to keep up to date on breaches and protection against them.
Even those businesses that are highly at risk can find cloud providers that offer appropriate security. Cloud providers’ security is always updated with the latest technology, with minimum admin for the customer.
Referring back to an example of a diesel engine reconditioning service and their online file management of finance information, security is vital for the sake of customer information. This information being hacked and the risk of their money being stolen can be avoided.
5. Run reports
Working remotely can often mean putting in more effort to show clients or colleagues the work you are creating while not being supervised. In addition, you need to prioritize not only showing you are working but that said work is of high standard and bringing in results.
Reports can take a lengthy amount of time to collate information with the analysis of complicated data, increasing your admin time. Document management systems offer automated reports to take this off your list.
You have the ability to customize your reports with features catering to your needs, as well as choose the type, such as account activities or inventory reports.
Like with other elements and features of document management systems, do your research and ensure the one you choose has the features you need before purchasing. Each platform has their own benefits so you’ll need to ensure you are picking the right one for your remote work situation.
6. Option to work offline
Working remotely doesn’t always involve working in one set location, like that of an office setup. You may choose to sometimes get out of the home office to work from different cafes for a change of scenery, or you may be on the road and don’t have the option of one set location with reliable internet. A top benefit of document management systems for remote work is that you do have the availability to work offline, with documents automatically saving.
Facing scenarios where cafe internet isn’t strong enough or being unable to access internet at all can be detrimental to failing deadlines. This then has a huge impact on maintaining work.
The most smooth-sailing approach to managing business information, files, and documents of any type is by making use of document management technology. Technology is constantly evolving for the very reason that it saves time and assists businesses to ultimately succeed. Collate your data into one platform so you can work fast, efficiently, and from any location.
7. Financial archives
When it comes to important financial information, it’s important to document securely for obvious reasons. Whether the majority of employees work on site or in the office, you need availability of these files from wherever, whenever.
For instance, you’re diesel engine reconditioners with a long list of commercial clients. Client financial statements may be crucial for tax purposes. Storing information the old fashioned way through physical paper allows for them to go missing or be destroyed. Either having digital versions or scanning your physical information then storing them in a secure system will give peace of mind and avoid any disasters that could impact the business significantly.
Due to these files often being confidential, it’s important that they aren’t accessible to everyone. Document management systems securely store all information, regardless of file type. Many have features which only give access to specific individuals in order to remain confidential.
8. Data Solutions
For many companies and organizations, there is a significant amount of data which can be difficult to keep track of. Often, duplicates can easily occur, older versions of files can be accidentally sent and clients or customers can be followed up too many times or not followed up at all. Automatic document protocols, data entries and project notifications, which are available with efficient document management systems, all act as data solutions. As a result, the paperchain process is smooth lined. The required information, form results, data, and more, are available at the touch of a button as opposed to hours of trying to find it. Furthermore, companies that revolve around data simply won’t be able to survive without a sufficient online management system for remote work.
Without efficient document management, some businesses may not even track data at all. It is this tracking of data that can take businesses to a new level. Being aware of who may be clicking into your site and filling in forms, as well as other audiences such as who is subscribed to your EDM’s, gives you information you can utilise. From here, you can either directly contact or market your products or services to, thus increasing your profit furthermore.
9. Workflows
Digital workflows can determine project steps, the amount of work required, the length of time needed and where each employee is needed within this journey. They are an efficient way to track large and complex projects as well as customer journeys which often have multiple team members involved. This is even more prominent with remote work and new hybrid systems that have arised due to Covid.
Workflows can avoid multiple types of issues from occurring, such as multiple people in the team contacting a potential customer. It looks unprofessional and disrupts trust, losing the said potential customer. It saves employees essentially investigating the next steps, sourcing documents and manually doing each of these steps. Instead, everything is displayed digitally and often, certain files or templates can be automatically sent through the system, once previous steps have been ticked off. As a result, everything is automated and of course, you can customise the elements that the system can undertake and the elements that employees need to manually undertake.
Whether you’re a freelancer, small business or large corporation, these reasons make it critical to ensure your document management is effective. From food industries, to even industries as unique and complex as diesel engine reconditioning service, some level of document management is required to smoothline and automate processes.
Olivia is a business owner and a freelance writer who currently writes content for Franklin Engineering, diesel engine reconditioners which focuses on engine reconditioning and diesel engineering services.