As the ongoing COVID-19 pandemic continues to affect major work trends, many business leaders understand that large-scale shifts in how things get done are necessary to produce efficiency and cost savings.

These two factors work together to ensure competitiveness through the continuing economic downturn, allowing businesses to thrive in a post-COVID environment.

One primary way to effect a positive change in business processes is to leverage the power of streamlined workflows and automation, the advantages of which can bring beneficial, cost-conserving transformation to businesses in nearly every industry.

In fact, concentrating on workflow efficiency is critical to the cost-conscious enterprise.

Workflows create structure and order in your business, offering clear insights into business processes, identifying critical redundancies, reducing the need for micromanagement, and improving communication and collaboration across the board.

Once workflows are identified, automation can help you streamline them to reduce errors and increase productivity. The root of this process? A strong document management system (DMS).

Put Streamlined Workflows and Automation to Work for Your Business

A document management system (DMS) provides a robust interface that can help your business optimize workflows for greater productivity, reducing costs and even contributing to a more positive staff and customer experience.

Here are just a few of the ways a DMS can create a more efficient, more powerful workplace:

  1. Targeted Data for More Informed Decisions

Data-driven decision making (DDDM) is more than just another buzzword, it is a well-researched way of making business decisions driven by hard data rather than using intuition or observation. According to Techopedia, DDDM has become a fundamental focus of many industries, including manufacturing, transportation, and medicine.

No matter what industry you are a part of, companies that use DDDM are 19 times more likely to be profitable, 23 times better at attracting new clients, and six times better at retaining their clients.

These benefits have a direct impact on your bottom line in addition to their other organizational benefits.

A strong DMS can provide the kind of data you need to employ smart DDDM strategies, such as print consumption and usage data, content access statistics, and more.

  1. Enhanced Communication and Automation for Better Workflows

Your DMS will help manage and automate the creation, storage, and sharing of all critical business documents, from emails and correspondence to contracts, proposals, marketing materials, and employee records.

A DMS removes the potential for human error by automating manual processes to scan, digitize, archive, and share documents in a secure and efficient manner, allowing authorized team members to find and access critical information rapidly for greater productivity gains.

Further workflow enhancement is gained through easy DMS integration with typical business applications such as Microsoft Office, Google products, and other productivity-enhancing software that allows for swift and productive communication among departments and team members.

  1. Realizing Cost Savings Through the Removal of Document Inefficiencies

It costs anywhere from .50 to .95 cents every month to store a typical small box of paper records. That figure does not take into account document intake and preparation costs, indexing of documents, retrieval costs, document security options, or even escalating real estate costs.

A DMS can address all of these factors by removing the need to store paper documents, simplifying the intake and retrieval process, and ensuring proper security for increased compliance and risk management.

First Phase Data Can Help You Control Costs with the Right DMS

At First Phase Data, we understand the economic challenges facing many businesses — large and small — as they learn how to respond to and thrive among the changes precipitated by COVID-19.

Now, more than ever, businesses are looking for ways to become more cost-conscious without losing sight of what is most important — productivity and profitability.

A robust document management system can move your company toward streamlined workflows and automation tools that can provide real results in our current volatile marketplace, giving you a competitive edge — and peace of mind.

Learn how our state-of-the-art DMS solutions can take your company to the next level. Contact First Phase Data today and let our document management experts assess your needs, create a custom-tailored solution, and help your business prosper.