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Top 5 Benefits of Adopting Business Process Management

 Benefits of adopting Business Process Management software

Today, businesses face increasing competition from companies of all sizes and stature. In order to remain competitive, decrease costs and increase organisational productivity, business leaders must recognise the importance of improving business processes. Business Process Management (BPM) can help here because it incorporates continuous process improvement methodologies and uses them simultaneously with BPM software.

Besides the obvious benefits of BPM Software implementation are– like reducing costs, rendering competitive benefits and enhancing business agility – these systems can do much more for your business and business strategy.

Better visibility into business operations and performance

Because BPM solutions make process automation possible, they allow for system users to keep track of performance and reveal details of how important business processes function in real-time. This greater transparency allows management to gain a better understanding of their business processes, monitor structures, and improve processes efficiency while keeping track of any outcomes.

A focus on customer satisfaction

BPM software helps organisations to combine people with technology in order to acquire and retain satisfied customers. With leaner, more efficient processes and increased productivity that Business Process Management software helps achieve, employees are better able to focus on the customer. With that being said, a happy customer is a returning customer – meaning this helps to increase revenue, performance and ensures profitability.

Reduced risks

Since automation is a key factor to keeping process execution quality at the desired level, it ensures that a task or process is completed in the exact same way, every time. This can reduce errors and risks in business processes to ensure they don’t happen again.

Plus, since BPM software allows for improved transparency of business processes, it enables users and business leaders to spot out any inefficiencies within them. As such, BPM software creates better-designed, executed and monitored processes that can further help reduce risks.

Greater compliance and security

Since organisations need to be compliant with industry regulations, a comprehensive BPM system can ensure that organisations comply with any standards and stay up to date with laws by implementing regulatory requirements.

When you implement a BPM solution, you’re also integrated compliance into your process lifecycle. Businesses can build compliance into their business practices if department-specific applications are integrated with the organisation as a whole. In addition, BPM software also has the ability to promote security and safety measures by documenting procedures and facilitating compliance.

Reduced costs

In order to thrive and sustain a competitive advantage, organisations today need to maximise the efficiency of the costs they obtain and the profit they generate. Luckily, BPM software is a driving strategy towards maximising cost efficiency by streamlining business operations, collaboration, automating repetitive tasks, and improving processes.

Implementing a BPM solution can trim down the costs associated to business process execution and reduce waste – since BPM involves allocating and tracking resources to avoid wastage.

More benefits of BPM Include

Agility, Better control and collaboration, Process improvement, Automation, Productivity and efficiency, Employee satisfaction, Sustainability and measurability, Mobility

Wrapping Up

Try our bpmEdge BPM software that enables businesses to design, implement, execute, monitor and optimise important business processes. By doing so, companies can efficiently organize and analyse data in order to automate business operations to save time and improve overall business productivity.

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How Do Document Management Systems Work?

Document Management SystemsIt captures documents. It stores documents. And it distributes documents.

Here’s how Document Management Systems Work?

Clearly identified repositories for all documents:

Paper documents can be stored in filing cabinets located in a central filing section or in departments, while electronic documents can be stored in local desktop computers of each user or within central servers or dedicated storage facilities in a networked system. A good Document Management systems will clearly indicate where a particular document can be found, oftentimes producing the document on demand.

A system of classification for all documents:

An easily understood system of sorting documents into different categories can help store paper documents in clearly labeled paper folders and filing cabinets. It can also lead to and help create a hierarchical system of disk directories and a document indexing system. While the directories can facilitate browsing to the desired document quickly. The index can help retrieve documents using a search engine.

Rules and templates for creating and authenticating documents:

Rules and permissions specify who can create and authenticate different kinds of documents, and also the procedures to be followed. Templates provide standard formats for the different documents.

Tools to specify document workflow to suit business processes:

The DMS will, for example, allow routing particular documents through particular routes, for reviewing, commenting on, and approving the documents. Automated alerts can bring pending documents to the notice of concerned persons.

Contact Us For Top Notch Workflow DMS Software

Tools to specify policies and procedures for archiving and disposing of documents:

The Document Management systems will allow administrators to specify the policies and procedures for handling old documents. These might be archived in a standard manner if it’s likely they will be needed later or removed if their usefulness has passed.

Facilities for quick retrieval of documents:

The information about document repositories and classification systems will be communicated to all concerned persons, and will also be made available for quick reference at filing sections and workstations. This can help those who need particular documents to know where and how to retrieve the document they require. Additionally, search tools can speed up finding electronic documents, including finding all documents related to a particular subject or classification.

Security procedures and facilities to prevent unauthorized access and ensure physical safety:

Paper documents will be under the lock and key of specified individuals, who will ensure that only authorized persons are allowed to view the documents. Electronic documents can be protected through a system of access rights and password requirements.

Physical safety is ensured through using security measures, such as fire alarm systems, barred windows, security cameras, etc. for paper documents, and regular backup/separate storage of the backup for electronic documents.

 

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12 Key Benefits of Document Management System

benefits of document management system

We are living in the age of information. According to the internet, we are generating 2.5 quintillion bytes of data every day.  The Internet tells us that approximately 90% of that data has been created in the last two years alone, and this pace of data generation is by no means slowing down. Now imagine this much data in form of files or papers. The stack of papers would be able to cover the distance to the sun and back. Therefore businesses must know about the benefits of the document management system.

We at Pericent believe Digital documents are the need of the hour and we need to be able to do everything with digital documents which we do with physical documents i.e. storage, organization, annotations, signatures, etc. Document Management Software lets you do that and a lot more. A DMS system can function as a central organizing tool for all your business needs, saving you time and money, and boosting the productivity of your organization.

Benefits of Document Management System (DMS)

1. Reduces storage space

Storing physical documents requires a lot of space which requires a lot of money. Office space is expensive, along with the cost of paper, printer ink, file cabinets, storage boxes, bins, etc. A DMS Software allows you to save space and money by freeing up the need to store physical documents and use those resources for other purposes. This is one of the major benefits of DMS, that it allows businesses to go paperless.

2. Convenient searches

Searching for any information in physical files becomes a hassle. A Document Management System is the central hub for all the information that an organization collects, it makes searching for information very easy and convenient. DMS also allows document indexing which makes searching information easier.

Index-based search is a robust search method that works based on the metadata information attached to a document. A physical search could take up to a few minutes to a few hours; DMS would do that for you in a couple of seconds.

3. Improve workflow

A document in its lifecycle has to go from person to person in a department, department to department in a company, and from company to third party organizations. The document will have to cross several stages like creation, review, approval, and dispatch before it completes its purpose. Sometimes that document might also end up getting lost on someone’s desk.

DMS systems allow you to not only track the document where exactly it is in its lifecycle but also see what all modifications or additions have been made in it and also see who has (or has not) approved the document. This benefit of DMS allows businesses to function very efficiently boosting productivity in an organization. Additionally, DMS has a feature of document classification which allows you to group and organize your work better.

4. Version control

One benefit of Document Management Systems that helps businesses a lot is version control. Sharing the document via email or other sharing apps means that there are a lot of versions of the same file floating around. So it becomes hard to know which version is the latest one. If a mistake is made in a document, it makes it necessary for the document to be created from scratch.

With version control in DMS even if you share the file, there is only one file that is being worked upon and if a mistake is made you could simply revert back to an earlier version of the document, saving you a lot of time and effort.

5. Collaborate better

Whether you are working in an office or from your home, a cloud-based DMS will make collaborating on projects or documents easier than a traditional document management solution. You can upload any document very easily from diverse channels such as email, dropbox, google docs, MS Office, Android, or iOS devices or directly scan and capture a paper document onto a DMS database. Additionally, with integrated email capture, correspondence related to a shared document can also be tracked and viewed.

6. Share effortlessly

Document Management Software allows you to upload, store, search, and share documents with any person within the system itself. No need to email multiple times to share a file creating confusion of multiple copies and versions. You can also personalize the access to a document according to your requirement and suitability and email the file as an attachment or as a ticket URL with an expiry date. Cloud DMS will allow you to access your documents from any time, anywhere.

7. Stress-free compliance management

Compliance and regulatory requirements have become increasingly difficult territory to navigate. Especially different industries require different specific compliance standards. Traditionally, organizations used to store files physically in cabinets, folders, or in silos which always results in damage and spotting to the documents over time.

DMS systems prove to be greatly beneficial during this whole process. It provides a complete audit trail related to a document and also ensures the retention of documents a decade in length or longer. This makes the whole process of audits and compliance management stress-free.

8. Improve security

DMS automates the security of your data by taking backups of your data, requiring authentication to approve a document, allowing you to rescind access permission of any shared document, tracking who downloaded or modified the document and when. This is beneficial to businesses as it protects them from internal data breaches and secures their documents.

9. Disaster Recovery

We never ask for trouble but it comes looking for us anyway. The only thing we can do is to prepare for it. Document Management System is one of those things that help businesses prepare in case of disasters such as fire or water damage as all documents are stored online and archived offsite.

10. Save time and money

Businesses save a lot of money in form of paper, printer ink, physical storage, etc. Less manpower is needed as digital documents do not need to be maintained, fetched, or moved around. Time is saved as DMS makes working with documents easy. This boosts productivity across the organization and saves the business a lot of time and money. We cannot overlook this benefit of the document management system.

11. Enhance your competitiveness

To compete on a global level today time, money, productivity, quality, and consistency are the metrics by which businesses have to measure their success. A DMS would help in making sure that you are able to compete with the best.

12. Become green

Last but definitely not least benefit of a document management system is that it helps organizations become green. You can save a lot of paper and hence a lot many trees with the help of a Document Management System.

Conclusion

In the age of technology, workplaces have gone completely digital. To keep up with times organizations use 10 different applications to store, manage, and work with documents.

A Document Management System (DMS) such as docEdge DMS would centralize all your data so that you don’t need to keep switching applications while working and it would also ensure that your data remains secure and safe. The benefits of document management system are many, the real question is why you aren’t still using it.

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Real Advantage of Paperless Office

Paperless Office

Businesses don’t realize that the time spent looking for documents costs them dearly and is detrimental to their business (31% of respondents said that if they weren’t looking for documents, they would be spending time on business development). There are many benefits to a paperless office, some of which you might not even have thought about.

Pragmatically speaking, a paperless office doesn’t exist. Paper will always find its way into an organization. Vendors will send contracts. Customers will send purchase orders. Potential employees will bring resumes.

“Going paperless”—eliminating paper usage and managing documents in the cloud or web-based filing systems—sounds hip, smart, and eco-friendly. However, the reality is that paper still permeates the modern office. And businesses have been slow to start the transition.

Even though this is considered a myth, almost all organizations are aiming for going paperless nowadays.

A few of the advantages of going paperless

Business development

With the time saved, executives can spend their time more productively, on developing the business. According to the YouGov survey, 30% of business managers and directors would spend the time they save on business development.

Better customer service

A digital document management system allows you to access all customer data, retrieving information such as customer orders and documents, allowing your business to proactively provide customer service, and respond to inquiries faster.

E-mail efficiency

A digital document management system that communicates with your server-based email system will allow you to save emails into the system just like any other document, making it easy for you to search your email history.

Return on investment

Businesses do not need to spend a lot of capital in order to have a digital document management system. There are cost-effective choices that will allow you to see a return on investment in as little as 6 months.

Greater document security

The security of the information stored in digital format is much greater than the security of the documents that are filed in paper. In addition to the fact that it’s easier to restrict the access to confidential information stored in digital format, it is also easier and less expensive to make backups, so that if files get lost or a data theft occurs, it’s possible (and much easier) to retrieve the information.

Meanwhile, documents  on paper are much more exposed to accidents – leaks, floods, fires – and is much more easily accessible to third parties.

Less overhead costs

Digitizing documents has a direct impact on cost reduction. Not only because companies don’t need to buy as much paper as before, but because it also saves on maintaining printers and purchasing spare parts.

On the other hand, if all of a company’s documents are digitised and can be sent by email, there is no need to spend on mailings anymore.

Less space dedicated to file storage

Freeing the space dedicated to filing physical documents is also one of the main advantages of a paperless office. A digital document management system allows companies to archive everything in the cloud or on private company servers.

The space that is saved can be dedicated to expanding offices or other uses that bring more value to employees, such as a rest area to socialize with colleagues.

Automatic audit trail

Increasingly, businesses need to adhere to strict guidelines on compliance and need to store records for many years. With a digital document management system, there are no limits to the amount of documents you can store, and every document will have a unique number –automatically generating an audit trail. This also gives the ability to make changes to documents and still keep the original, helping with compliance and audit guidelines.

Simplicity

With a digital document management system, you can simplify many business processes. Users can action or authorise tasks and transfer data with the touch of a button. Ordering goods and authorising invoices are just two of the best examples of daily tasks that become more efficient when done digitally.

What did we conclude?

Looking at all of the above-mentioned advantages, more and more companies are being driven to eliminate the use of paper in all their business processes.

At Pericent BPM and BPM Software, we’re already a paperless office, and we firmly believe in the benefits of document scanning and digital document management systems.

We are on a mission to help every organization become a part of the digital world by being a paperless office with the use of docEdge DMS.

If you would like to try docEdge for digitizing your documents and managing them online, request for a demo and try it free for 14 days.

 

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