How poor document management systems can impact your business
From a recent study of 350 office workers, M-Files found:
“31% of respondents find looking for documents in their company’s system difficult, while 42% say it can take as long as 15 minutes to locate a single document”.
This frustration has acted as the driving force leading to many employees using their own file sharing solutions. It is extremely concerning that sharing systems may hold business critical & confidential information, which senior management and directors may not even be aware of or have access to. Individual sharing systems also create a number of security risks. For example, the networks on these systems may not be encrypted or secure allowing for easy access by hackers or begrudged employees.
We must also consider the wasted time employees are spending searching for documents. If an employee is spending 15 minutes searching for 1 document throughout their working day- this totals to almost 60 wasted hours a year. And this isn’t to say that the employee is only search for 1 document per day. The results from this study are astonishing and show how time and money is continually being wasted in organisations due to unorganised document management systems.
What is the solution?
Well the solution is quite easy really. To increase efficiency, productivity and therefore profits, all businesses need to do is adopt an organised document management system. If we assume all documentation is already digital, but unordered, Storetec can assist with indexing and creating custom filing structures on our secure document management system, FreeDocs. FreeDocs is a scalable system with a range of security features including: user delegate access, password encryption, audit trails and document signing capabilities.
If the documentation is paper based, Storetec can assist with scanning services allowing you to access critical information in a readable and easily manageable format. Access to digital documentation is the future and the only way to ensure the longevity of records.