Saving with document management system?

Did you know by adopting Document Management solution in your business, most companies can reduce about 40 percent of their paper and printing expenditure?
The businesses in the United States, for instance, are facing wastage of $8 billion every year on paper. On average, businesses incur the cost of $20 for filing any document, $120 for finding a lost document and $220 for reproducing a misplaced document.

One of Adobe’s studies, consisting of around 1000 U.S businesses of all scales, revealed that 61 of the businesses reported cost saving through working digitally, while 98 percent still reported the use of paper in the contract transactions.

Singapore’s corporate world is experiencing a Green technology

Businesses in Singapore are trying to be more environment-friendly; however, going green is often associated with high initial outlay. From installation of energy efficient equipment to the deployment of waste recycling processes, businesses have to incur certain investment if they want to follow green industrial practices. Nevertheless, green investments generate greater outcomes in the long run, saving businesses’ money as well as time. A document management system is one of those investments that is increasingly finding its way into Singapore’s corporate world.

Apart from direct & in-direct cost saving and revamping the entire filing mechanism, the right document management system (DMS) helps improve information reliability, efficiency, reduce cost and paper trial and increase security. In addition, cutting edge technology of today has put DMS on a new dimension with features like passport and driver’s license scanning, bar coding, signature capturing and e-mail archiving.

A DMS can improve operational efficiency

A document management system provides access to information to all employees, whether they are located in different departments or at different geographical locations. The ability to find and retrieve the documents, check these out for editing and getting these on-board for approvals enhance teamwork and reduce process turnover rate.
Can you gauge efficiency in dollars?
Consider a case of one of the leading companies, whose H.R Department felt the need of more staff in view of increasing number of employees. However, after deploying a DMS, the existing HR team could easily automate the manual functions like account creation, documents uploading, e-filing and data entry. The need of more staff seemed void. In addition, it saved tons of paper too and the company achieved the annual saving of more than $80,000 in remuneration, benefits & paper expense account.

A DMS can cut cost

Going paperless decreases key expenses like photocopying, file storage, overnight courier charges, and printer paper and toner consumption.
In addition, if you are not using a DMS, you would have probably been incurring a mailing cost. Take the case of Canadian Seed Growers Association (CSGA), which previously used to mail its paper forms to seed evaluators across Canada. It ended up with heavy postage bills. By sending forms electronically via DMS, the association significantly reduced its postage cost. In fact, it fully got rid of its mailing and within three weeks following the same practice, was able to save around $10,000 plus 300 working hours.

A DMS leads to Environmental protection

Green practices are rising in popularity not just among businesses but also among consumers. As per Gartner’s report, “Green IT” is included in the list of top 10 technology driving changes in business processes. Document management systems are playing a pivotal role in making businesses the greener workplaces. The DMS solutions are rapidly replacing printing, manual filing and postage with electronic process, letting businesses of all scales to eliminate or reduce their paper usage and waste.

Summarizing…

The document management system may significantly transform your business’s filing and data records from a time-consuming, manual and inefficient drain on your bottom line into a massive business process that is digital in nature and provides an eco-friendly touch to your business strategy.

O risen singapore pte ltd is a one stop office solution provider that not only sell or rent copier machine but also provide DMS solution that incorporates with your everyday printing.