Why Document Capture and Routing Matters

ITWorld.com is running a story today on the importance of document capture and routing, as well as the entire field of document management in general. The gist of the article is that as we continue pushing into a global recession, businesses everywhere are searching for ways to become more efficient. Implementing document capture or an over-arching document management program created by a third party vendor like GRM can increase a company's productivity, reduce waste and cut back on unnecessary expenditures and salaries. If you're a business owner, this is a must-read.

From ITWorld:

What is document capture and routing? It’s a flexible and efficient way to capture, transform, and move paper and electronic documents among people, places, and formats. Starting with the familiar networked multi-function peripheral (MFP) – the new-breed copy machine that is a foundation of outsourced office services, document capture and routing solutions provide simultaneous distribution to multiple destinations in multiple formats.

Digital Document Management Saves Big for RIA Firms

BankInvestmentConsultant.com has an article on their website this morning discussing the financial benefits of RIA firms utilizing a digital document management service like the one offered by GRM. It's one of the most concrete news pieces I've seen in the past few months for selling EDM, namely because the author provides concrete figures of approximately how much firms stand to gain from the transition. I know I've covered the idea a lot here in this blog, but the increased efficiency that a streamlined document management program offers any company is invaluable.

From the article:

The implementation of technology upgrades results, on average, in an annual savings of $8,000 for an emerging firm, $18,000 for an established firm and $27,000 for an enterprise firm, according to the analysis. Firms using digital document management systems are able to reduce storage space or even move into a smaller office.

Digital Content Still Out of Control

According to the findings of a recently released AIIM report, almost half of all businesses surveyed were having difficulties handling their electronic information, and as much as 75% reported not having a handle on modern business channels like blogs, texts and wikis. That being said, educating yourself on the nature of electronic document management and all of it's subcategories is more important than ever.

Every major industry has gradually shifted to a more digital-centric information flow, and along with that must come the ability to handle, store and maintain that digital information in a responsible way. Digital document and records management programs like GRM can help you to pull your business above the statistics, making you one of the fifty percent that actually knows how to handle the new challenges.

Going Paperless

FreshBusinessThinking.com has an excellent article running on their website covering the progression of digital document management, the likelihood of a truly paperless office and why so many business owners may be hesitant to convert to electronic document storage. In a nutshell, the concept of digital storage was pushed too hard too early, and many businesses had bad experience trying to hop on the band wagon. However, the technologies used by EDM Centers like the one GRM offers are above and beyond those initially introduced. They're effective, efficient and more affordable than ever.

From FreshBusinessThinking:

All of this document production and storage is occurring in a time when almost everything we generate comes from a digital system, eg. word processing, accounting systems, digital copiers, etc. – and most of these documents are already stored in digital file format on the system that created them originally (Word files, spreadsheets, photographs, accounting systems, etc). Yet there is still a great reluctance to take the final step and commit these paper files into a concise digital filing system and reduce the amount of environmentally damaging paper consumed, as well as reducing the expense committed to vast amounts of wasted space given over to document storage. Much of the resistance to change stems from old and somewhat flawed technology being made available before it’s limitations were determined.

Convergence of Document Management & Payment Pros

CIO released an interesting article yesterday focusing on the ongoing melding of document management and Accounts Payable and Receivable related responsibilities. Thanks to increasingly strict regulations like HIPAA and the Sarbanes-Oxley Act, these two fields will more than likely continue to become more and more synonymous with one another as the years pass by. GRM's new EDM division caters specifically to Accounts Receivable/Payable departments. You can learn more about those services by visiting our website.

From CIO:

A recent TAWPI study revealed a fact that may come as a surprise to some in the burgeoning Enterprise Content Management (ECM) industry. It appears that, as the worlds of payment processing and document management converge (under the umbrella of ECM), organizations are finding payment professionals especially successful and active in the implementation and management of the resulting merged environments. Indeed, the study shows that well over half of the respondents who identified themselves as payment professionals already carry document management job responsibilities.