What I learned about document management systems and why it is important.
Saving money starts with reducing paper consumption which reduces the time invested in managing paper, which reduces labor costs, which increased efficiencies, and so on.
Not to be too personal, but when was the last time you thought about how much printing one single business document page costs your company? If we disregard the costs of toner, ink, and a ream of paper (purchasing), and focus on only time and handling costs, there are statistics to justify your business' DMS.The EPA WasteWise program has identified “office operations” (reducing paper that is mailed or used internally), as one of the top three areas in the manufacturing industry where companies can improve efficiency and cut costs. Copying, printing, mailing everything from contracts, purchase orders and receipts to order acknowledgments, reports, and invoices. Without new decisions and systems, costs continue to add up.
Paperless Manufacturing and Document Management Systems (DMS) like DASH DDX can help streamline the entire workflow chain. In each area, companies are seeing a reduction in expenses and increases in efficiency directly impacting the bottom line. Both Fortune 100 and SMBs can gain the efficiencies with affordable document management software. If your company has a very complex process, you can realize the biggest return on investment.
Here are a few ways you can capitalize on the benefit of DMS:
Sales Order Management
Storing all documents in one location can help speed up quote-to-order cycle times. When data is stored in a central location which key stakeholders can securely access, you eliminate the costs and time associated with faxing, emailing and getting approvals. All of the necessary changes and approvals can be made from one location — helping companies deliver products to customers faster.
Quality Control & Compliance
At the heart of every manufacturing company — from Apple, Inc. to Victornics, is quality control and compliance. Whether making smart phones or luggage, all companies need to maintain quality and comply with industry regulations and standards. When dealing with a complex audit, for example, where the process requires aggregating multiple paper documents from multiple locations, the ease of access by authorized personnel to critical documents and sensitive data is crucial to a successful audit. Audits become compromised when data is not easily accessible. With DMS, data is searchable, much like Google with results in real-time.
Invoicing & Accounts Payable
When the entire procure-to-pay process is streamlined, businesses can benefit not only from increased profitability and a reduction in errors, they can also ensure customer and vendor satisfaction. Fulfilling orders and managing accounts payable faster with more accuracy helps companies take advantage of early pay discounts. With all documentation centralized, invoices are processed more quickly for improved cash flow. At the same time, the accounts payable staff has access to all supplier invoice records that have been paid on time.
Here is a short video about DASH DDX:
"The ddx - ERP-integrated Document Management System is hands-down the best software investment I’ve made in the last 10 years. The payback was not only in terms of the intangible benefits gained by eliminating paper clutter, but also by unanticipated reductions in postage and phone expense, as well as by marked reduction in lead times for obtaining purchased and sub-contracted componentry. Ddx helps us be a more efficient, and more nimble manufacturer. I’d recommend ddx to anyone except a direct competitor, for them, I’d rather they tried some other solution."
Why DMS is important:
When integrated with an existing ERP system, document management software can help drive even more efficiency by exchanging data and eliminating the time and expense of data entry. In an environment where innovation means a competitive advantage, an enterprise-wide system and working smarter means bottom line savings.
Another benefit to purchasing document management software is that you can take full advantage of the software tax credit available. The popular IRS §179 Deduction for software is a must if you have capital budget still available and are in a position to fast-track a software purchase and implementation for your organization prior to year end. Your company could benefit greatly by purchasing "off-the-shelf" computer software: “a) is not custom designed, and (b) is available to the general public is qualified for the Section 179 Deduction in the year that you put the software into service”, according to the website Section179.org.
Every business — no matter how large or small — can benefit from the improved customer satisfaction, profitability and cost savings benefits that efficient technologies enable. With both on-site and cloud based models available, there is a document management solution for every company.
We have an upcoming webinar discussing how a DMS system, like DASH DDX, can help save your organization time and money over the long haul. For more information click here.
If you would like to schedule a demo or speak with one of our consultants about DASH DDX: