eDM - What is it? Do I need it?
Despite living in the information age, many SMEs still depend on some very dated methods of document storage. It may shock you to know that hard copy filing is seriously costly:
- in terms of time – a single paper document can cost as much as £15 to file
- staff spend 10% of their time looking for information, that’s 4 hours a week.
- a filing cabinet costs a company on average £500 a year in floor space rental costs alone
*According to Gartner (see report)
Even when stored electronically, finding the right form or document in “the system” can still be pot luck.
Well, it doesn’t have to be.
Our friends over at Invu offer a range of products that ease the process of document management and retrieval. They have produced the PDF document below to help you decide whether or not you would benefit from implementing an Electronic Document Management (eDM) system. eDM simply refers to the capture, storage, security, auditability, versioning, records management, and searchability and discovery of documents in a electronic document library or repository. In brief, if you’re drowning in a sea of paper and that you’ll be unable to find the right document at the right time, then eDM could be for you.
We’ve distilled a few consideration points from the report here:
- Fast information retrieval to maximise your working time
- Savings in physical space
- Better customer service
- Easy compliance with both internal and external operating procedures
- Efficient sharing of information & improved communications
- Exploitation of your business information
- Integrate with your existing systems – meaning you can use it from day one
- Be instantly searchable
- Give you auditability and version control – seeing who’s modified what and when, tracking actions on any document, which is important if needed for legal, accounting or project purposes
- Be secure: with confidential files only accessible by those with the right passwords.
- Allow for remote access – home or remote workers should be able to access your files releasing employees from having to work centrally
- Be customisable – the solution should be tailored to your needs as an organisation
- Be easy to use – Ideally, you shouldn’t need extensive training and it shouldn’t intrude on your day-to-day working practices and processes.
- Allow for document sharing and distribution.
Ultimately your eDM system will benefit you in:
- Time – less time spent on filing away and document retrieval
- Consumable costs – of consumables such as paper, toner, print costs and storage consumables.
- Space – you will require less space to store hard copies. Fewer filing cabinets, reduced square footage, smaller rent?
The report below goes into much more detail and is certainly worth a read.
You’ll be pleased to know that as an Invu solutions partner we are able to implement the full suite of products, so if you have any questions please do get in touch with our eDM guru Richard “Fish” Fishburn