Controlling Cost and Risk through Document Management

Still taking a reactive approach to document management challenges?

Organisations are well aware of the benefits of switching to electronic document management, but more often than not they use it in a "reactive" manner. This results in significant process inefficiencies and leaves them vulnerable to business risks. According to recent research conducted by industry analysts Frost and Sullivan, a document management solution should be part of the overall risk management strategy, as having a robust document management solution is instrumental in combating risks such as:

Disaster recovery and business continuity – If a company does not back up its vital records it exposes itself to a great amount of risk, making it impossible to fulfil contracts, collect payments or put together an effective defence case during legal proceedings. Organisations can reduce the risk by outsourcing their document management and management of records to specialist companies like Data Capture Solutions.

Compliance and regulatory legislation – According to research conducted by AIIM, 46% of the organisations surveyed see regulation and compliance as the biggest concern in their records management system. Compliance and regulatory legislation change quickly and business managers often find themselves vulnerable to the risks of non-compliance. Outsourced records management solutions help eliminate the possibilities of violating regulatory requirements, mitigating the risk of potential fines or lawsuits.

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Reducing risk with document management solutions: a step by step approach

Electronic conversion: All documents that have some intrinsic value for the business should be converted to electronic documents as they enter the organisation. Electronic formats cost less to store and can be retrieved or transmitted easily.

Workflow automation: Converting critical documents into electronic format helps make business workflows more efficient, as documents can be shared across disparate locations over a secure network without running the risk of any data leaks or security breaches.

Data Capture Solutions has a unique proposition covering all the above mentioned document management and workflow automation solutions along with the expertise to customise it to suit your business needs. For more information on our solutions and services contact one of our process consultants on 01753 616 720, or send an enquiry using our Contact Form.

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