Online document management is the new way to effectively and efficiently manage an organization’s documents. Instead of printing hard copies on paper, firms are wisely choosing to store their important images in an online depository. The process is extremely simple. Users simply scan the document using the proprietary data capture service, and the physical documents are kept in one central secure location. Whenever anyone needs to access the document, they must simply provide their credentials to access the secure site.
Without Further Ado…
Although the benefits of online document management are practically endless, the top seven benefits enjoyed are:
- Online document management reduces the time spent searching for different documents and information that may be spread out across several locations. With the data capture service, those locations are reduced to one secure location.
- Save time by not having to continually reproduce documents or by trying to figure out which version of a document is the most recently published.
- Share information much quicker with other groups and users that can be in totally different departments in separate physical locations.
- Data capture services allows users to work with documents at anytime from practically anywhere.
Money Saving Benefits of Data Capture Service
- Online document management services allows for the retirement of the archaic file systems and simplifies everything. As a result, the server maintenance costs will decrease as well as the administration costs.
- Implementing the use of electronic files reduces several costs, such as in the cost of paper and in the cost of administration.
- Considering that regulatory compliance requires certain documents to be stored, these old documents will began to take up valuable commercial space. Using a data capture service will greatly decrease the amount of valuable storage space that is needed by paper documents. In addition, the documents that must be stored as a paper copy will have more space and will cost less.
No Lost Files
- There is a huge expense associated with lost documents considering the time spent trying to replace the document. With a data capture service, the documents stay stored at a central location while they are being viewed. This means that the handling of documents will decrease exponentially and so will the number of lost files.
Flexibility in Retrieving
- Simply put, retrieving the hard copy of documents does take time. An online document management system takes significantly less time being located and retrieved. In addition, users have the ability to access many other systems while waiting on the retrieval of the document. On the other hand, retrieving hard copies takes the employee away from their desk and allows them to only work on one task.
- Document management systems allow users to search for documents by any word or phrase that is in the document, which is known as full text search.
Reduced Risk with Increase Compliance and Control
- A data capture service effectively complies with the new regulatory and legislative requirements. In addition, the service helps control conflicts of interest and other various issues.
- The service also provides a much more secure form of document security with a single central repository instead of local drives, email, and shared drives.
- The service provides a detailed auditing trail of all the various document activities.
- In the case of a disaster, online document management offers an infinite number of benefits over traditional printing services. The data capture service provides an easy way to back up documents at an off site facility, which provides an effective disaster recovery plan.