Every business looks for ways to save costs and increase productivity of their processes and of their employees. Since time is of the essence to every organization, it is critical to identify the ways of increasing efficiency as early in the life cycle of business as possible. With the advancements in the field of technology, there are various ways of achieving these goals. One of these ways is in using an electronic document control system, through which business productivity can be enhanced and savings can be realized. According to an online source, document control software is defined as a computer system that is used to store and track electronic documents or images of paper documents.
So how can a document control system save your organization time and costs in the management of critical company information?
A document control system usually is the repository of documents that provides a secure control of all documentation in the organization. With this type of software, you can improve communication, traceability, compliance and control over key business processes.
To highlight a few ways in which an electronic document control system can assist a business, we’ve listed some ways here:
Easy Search and Retrieval
The first advantage of automating document control is going paperless. With document control software, your staff won’t have to spend hours filing the documents and then searching for the right documents each time they’re required to locate a document. All of the important company information is stored in the central repository that can be accessed only by personnel who have been authorized to access information that is related to their responsibilities. Eventually, offering the quality supervisors security and control over company information and processes.
Quick Process Approval
In every organization there are times when a document has to be signed off and approved by various departments. If the administrative staff has to deliver every document manually to the concerned department, the task could waste 50-60% of the time taken compared to the time spent using an automated document control system. Additionally, the margin of error is significantly higher with human interaction. Using document control software allows you to send your documents electronically and assign different rights to the concerned manager. Setting up the organization hierarchy will enable management to request changes, approve the changes, report their comments when rejecting and accepting changes – all which provides an enterprise-wide visibility of tasks. With this, the senior management and subordinates can stay on top of things, keep track of each project and achieve tight deadlines. We’ve only addressed some of the internal benefits, but what about external benefits, such as improving customer perception and complying with the regulatory requirements?
Effective Information Management
The success of every business depends on how your customers perceive you and there is nothing better than keeping your customers happy. Word of mouth publicity is the most common form of positive publicity and attracts new business. Electronic control of documents will ensure your customer service and sales teams are accessing the most current information and constantly sharing that with prospective clients and customers.
When dealing with regulatory authorities, having the right information available at the right time can prove very useful for the business. Imagine you are a pharmaceutical company seeking approval for a new drug, usually called “new drug application” (NDA). The NDA contains extensive data on the investigational drug including the information about clinical trials. Each NDA contains thousands of pages, which means the margin of error is quite high if the data is recorded and managed manually as there will be different teams involved at various stages of the clinical trials. Even a single piece of critical information missing can cost your company millions of dollars. Being able to put your hands on the most updated documents quickly is crucial, but also represents to the regulatory bodies how efficient the system is in your organization when asked to access this information on the spot.
With the growth of technology and an increasing demand for electronic document control systems, an organization of any size can easily find a solution that will fit into their business need and their budget. Many vendors also offer cloud-based / SaaS solutions where a document control system can be run as a service and implemented in days at a low monthly rental fee.