The implementation of an electronic document management system has proved to bring substantial cost benefits to companies, some seeing a return on investment within three months of deployment.
Take, for example a group of companies each with their own Finance Department. The use of EDM can allow these departments to consolidate but also ensure that invoices are approved quickly and other financial processes run efficiently.
Most of the cost savings come from being able to reduce the number of purchase ledger clerks and redeploying a number of accounts staff’s time. Electronic document management can also drastically reduce the amount of paper used – in some cases by as much as 80%. Emailing sales invoices and electronically storing documents in their native format totally eliminates the need to print.
Capturing documents electronically and delivering them electronically also removes the risk of lost or misfiled paperwork which can also prove to be a costly error for any business.
Finally, another cost saving is that by scanning all incoming documents upon receipt and then shredding them, the need for filing cabinets and expensive storage space is vastly reduced.
For more advice and guidance on how to save money by working smarter, please contact The IPC Group on 08081 45 46 47.