Mann Mortgage processes loans at three locations, but retains all associated documents at its central office. Each center receives up to 20 files a day consisting of over 300 pages each. Every file must be sent to the home office for filing and processing.
Before adopting digital document processing, stark workflow and cost inefficiencies existed. Specifically:
Do endless paper piles, backed up invoices and constant trips to the post office sound familiar?
If so, you aren’t alone. Every day, businesses suffer from ineffective document management. That includes the big players, too.
Take IKEA Austria, for example. A highly successful and rapidly growing organization, IKEA struggled to efficiently process its formidable paperwork, including employee payroll, invoices and credit notes.
The dream of automatic document storage is becoming reality for more and more users - thanks to Intelligent Indexing by DocuWare. This innovation was introduced mid of 2013 and already nearly 200 customers are processing over 360,000 documents per month. And with each document stored, the system gets smarter and smarter. How does it work?
In today’s competitive marketplace, small and medium-sized businesses (SMBs) are always looking for ways to accomplish more work without the expense of hiring more people or paying overtime.
Improving efficiency is one of the best ways for SMBs to drive profits and stay ahead of the competition, and poor document management should be one of your first targets.
Here are five common inefficiencies that SMBs could overcome with an effective document management system:
Does this sound familiar? A paper invoice arrives in your accounting department and an employee quickly scans it into the computer, using OCR to capture the full text of the document.
This technology is still used in many document management systems, but leaves much to be desired in terms of process efficiency. Before your team processes the electronic invoice for payment, an employee would still need to manually enter data into several indexing fields.
Any time you make an investment that allows you to reduce daily expenses, the benefits accrue day after day, whether you’re putting new insulation in your home to lower utility costs or implementing new technology to increase your company’s efficiency.
Document management software offers time and cost savings in a variety of daily applications. But where should you focus first to achieve the best return on investment (ROI)? Here are five specific areas where document management allows you to capture significant ROI:
Mengali Accountancy initially implemented DocuWare to streamline work processes and become a paperless office. Fast forward a few years and this progressive company took technology to the next level - their customers.