With a flood of information to manage every day it gets difficult for businesses to focus on tasks important for business growth. Almost 30% of the working time is spent on searching for documents. If business information exists on paper, a disaster like a flood or fire can cause major losses to the company.
Document Management is indeed a challenge for businesses as it involves a lot of documentation from different departments like reports, contracts, nondisclosure agreements (NDA), invoices, debit notes, credit notes and more. Having an ERP makes document management faster, simple and organized as it completely eliminates the challenges faced with manual methods, let’s understand how!
1. Saves Cost
The making of documents involves a series of corrections, which also comes with printing every time you make a correction. As a result, it leads to a lot of paper wastage including printing costs. With an ERP in hand, you can save a lot of cost and time of the company.
2. Searchable
A business involves a lot of documentation, finding the right one at the right time makes business fast and efficient. An ERP organizes documents in a structured manner making it easy to find whenever required. Documents of the same type can be easily found under any sort of criteria.
3. Permissions
Documents can be created/viewed/ edited as per the set security permissions to different users.
4. Tracking
An ERP will help you track who has accessed and edited each file. Users can always find out how and when it happened, making it easy to keep documents in safe hands.
5. Reduces Redundancy
ERP system makes it easy to share documents with the senior management team without the need of sending an email or through physical storage devices like pen drives. The management can directly view the documents from the system without having to save multiple versions to track changes.
6. Simple & Organized
The user simply has to choose the format of the document, type of document they want to create and enter the details in the document. Few ERP’s make the process easy by templates. These templates can be customized easily by the user at any point in time.
With documents stored centrally, it gets easy to present the documents within seconds irrespective of the format. No company will be at a loss even during cases of hazards. Stop yourself from dealing with piles of papers and make your workplace spacious with an ERP.
