Over the last couple of weeks we have outlined some of the different ways a document management solution can improve your company’s processes. From reducing the obvious and hidden costs of paper, and improving employee productivity; to the significant benefits that come with its integration with your ERP system, the value seems endless. But there’s more! An often overlooked capability of document management is its ability to save your company from data loss in the event of a disaster.
This week’s focus on Improved Likelihood of Disaster Recovery is considered a “soft” benefit of document management, meaning that while it may not have a direct ROI, it is invaluable nonetheless.
In a study it was determined that 90% of critical business information exists only on paper and that 70% of today’s businesses would fail within three weeks if they suffered a catastrophic loss of paper-based records due to fire or flood. Electronic document repository can be utilized as a back-up archive of business critical documents and is a hedge against those types of disasters. As well, the movement to a paperless work environment allows companies to become socially responsible by “going green.”
To navigate through today’s economic climate and ensure business continuity, make sure you pick the right tool. Document management and workflow solutions help reduce overall operating costs, increase efficiencies within your organization.
To learn more about the things to consider, should your company choose to go paperless, download our whitepaper: Armed and Paperless - Ten Key Considerations When Selecting a Document Management Solution.
Image by David Fletcher, courtesy of www.cloudtweaks.com.