In the face of unprecedented growth in business content and data, paired with a changing security landscape, businesses are facing more and more challenges that come with storing documentation. Many organisations are still storing both original and hard copies of their data, and are yet to become aware that this type of document storage is both costly and inefficient, especially when compared with the advantages of electronic data storage. Tighter regulations on data protection are also making compliance a growing, yet inevitable, challenge that’s affecting the entire business world. To add to these challenges, customers are also beginning to demand more streamlined and secure services. Sound familiar?
The market has reacted to the challenges through the creation of digital solutions which businesses can adopt. One of the latest trends in document management, known as Content Services, encompasses a wide range of content management features aimed at digitising documents so that you can turn your business content into a digital asset that provides business value. This technological solution can help businesses automate workflows and centralise data in order to overcome the struggle that comes with physical file storage.
This brings with it a number of benefits for companies adapting to new systems. In this article, we identify three of the most important changes that businesses experience when implementing content management systems.
1. Lower costs
One of the advantages of electronic data storage is the elimination of paper, printing, filing and file storage costs. As businesses adapt to the changing nature of their workforce, the concept of keeping and storing hard-copy files within a company’s facility is becoming more and more difficult and costly. As real estate prices are on the rise and the amount of documentation to be managed increases, companies are beginning to see a clear need for a more sustainable approach to document storage.
The introduction of a content management solution in a business can enable it to make more efficient use of its overall resources. By using information management tools to capture and manage documents, physical space is freed up and expenses are reduced. Simply put, dead space in offices will then become a thing of the past, providing companies with opportunities to find ways to better utilise their facilities.
It is without a doubt that going digital has valuable advantages. And if your business does have any physical documents that must be retained, they can be sent off to a record management facility that provides more cost-efficient services than on-site storage.
2. Enhance security
Whether digital documents are generally safer is no longer the question of the hour. Paper files can get easily lost or destroyed and seen by just about anyone, while digital files managed within a content management system are nowadays virtually indestructible and can be restricted to authorised individuals.
When a business decides to digitise their documents using a Content Services solution, they are also provided with the opportunity to make their content secure and managed. A task is much easier to implement when dealing with digital files. Companies are able to control who has access to their sensitive documentation and prevent the information from falling into the wrong hands through the use of rules that only allow certain individuals or groups within a company to access specific data. Rules can also be created that authorise access to employees who are on a specific management level, while always keeping audited tracking of who has accessed the content.
In addition, your documents are always secure thanks to technology that features end-to-end encryption, keeping information safe and providing digital backups to ensure data will not get lost. If anything is lost or accidentally deleted, all your documents can be easily restored.
3. Fuel efficiency
When it comes to how the average employee accesses information, we often spend more time searching for it than using it and putting it to work. One of the advantages of electronic data storage is having digital archives where desired documents are just a few clicks away. This can lead to a boost in efficiency within the workplace, with an increase in productivity often found after the implementation of a tool like Enterprise Content Management.
A common problem across industry and business is having multiple copies of the same document and spending far too long searching for and processing them within a company’s system. This means that day-to-day operations become time-consuming and complicated. And in many cases, such as contract management, extensive and poorly organised paperwork can delay negotiations or even lead to lost business.
Digitising paper records can solve these problems and prevent many more. Modern software solutions allow businesses to capture and digitise documents while indexing them, creating a single source of truth with useful, searchable information, which in today’s fast-paced market, can give a company a competitive advantage. Digitising and centralising information with Content Services in a business can lead to significant savings in time and money, while boosting overall efficiency and providing better opportunities to utilise resources.
Businesses are handling more documents and data than ever before, and many are struggling to keep up. The answer lies in automating workflow management using modern technologies such as Content Services solutions to drive efficiency and business growth. Download the ebook today.