How does your company handle document management? If you are still relying on manual data entry and Google docs for document sharing, then you are going to want to take notice. With a document management company, you can streamline your business workflow, improve efficiency, save money, and so much more. If you have been contemplating whether or not your company needs a new document management system, these stats are for you.
Document Management Stats Regarding Productivity
Productivity is everything when it comes to your bottom line. If your employees are spending their time doing things that could be streamlined with a document management system, you are losing money every day. Here are some of the most compelling stats regarding productivity.
Over 21% of daily productivity loss can be attributed to document issues.
Whether your employee is trying to open a document that was sent to them via email or they simply cannot find the document they need to reference, your team is spending a lot of time struggling over documents. With document management software, all of this can be eliminated and productivity levels can increase by 21 percent.
On average, a professional spends 18 minutes searching for a document, which adds up to nearly 50% of their total time on the job.
Nearly all of the information your team accesses comes to them in a document of some kind, and even if they have the most thought-out filing system on their own computer desktop, it is just not as easily searchable and sharable as a document management system.
Most documents are photocopied about 20 times.
After all, you need to share important documents with everyone in the office, and this requires a lot of paper, ink, and time. Or, you could go green and transfer your company’s documents to a document management system that allows everyone to access the documents on their own devices simultaneously.
Document Management Stats Regarding Collaboration
A document management system is incredible for organizing data, that is true, and it is equally amazing for collaborating between employees in the same office and across the world. Here are some shocking stats about collaboration.
Email is the collaboration method of choice for 92 percent of employed adults.
Yes, email allows you to quickly communicate; however, in a slew of messages, it is all too easy for important information to be skipped. Not only that, these emails are challenging to prioritize, and it is hard to track who has seen which email and if any action was taken. Enter a document management system: documents are stored on a smart platform that allows documents to be accessed by multiple people. Each of the users can leave comments directly on the document for everyone to see, and notifications will be sent to participating parties.
Every day, as many as 83 percent of workers struggle with version issues.
When it comes to collaboration, few things are more important than making sure you are working on the most up-to-date document; however, if you don’t have a system in place that saves each document in real-time amongst all contributors, then there is a good chance an outdated version will be used instead. With the version control options in a document management system, everyone can see who made what changes and when, and all changes will be made instantly for all users.
Document Management Stats Regarding Remote Work
Just because your employees work at a desk during the day, that doesn’t mean they will never need to access documents when they are away from the office. A document management system brings freedom to your employees, providing them access to important files no matter where they are. Here are some intriguing stats about working remotely.
Almost 80 percent of business owners would like the ability to access documents on the go.
If you are one of them, what are you waiting for? The technology exists, and it is easily accessible, so it is time to put it to work for you. Look up documents while commuting, traveling, or even at home on your sofa. Don’t be chained to your desktop.
Integrating e-signatures into your workflow can cut back turnaround times by as much as 80 percent, and you can save about 20 dollars per document using them.
When a document requires a signature, you have to locate the person who needs to sign, give them the papers, wait for them to review them, have them sign, and then collect the papers. The process is daunting. Luckily, there is a better way. With e-signatures, available with most document management software, anyone can access the documents from anywhere across the world. They can they review these documents when it is convenient for them, and then instantly sign them. You will be notified as soon as the document is signed so you can move forward.
Clearly, the stats are compelling. If you are not putting a document management system to work for your company, you are wasting time and money every day.