Thursday, January 13, 2011

8 Risks of NOT Having a Document Management System

Found a great article this morning by Shiraz Ahmed- an expert in the Document Management Software field.  He writes of 8 Risks Organizations Can Avoid by Using a Document Management Solution.  Highlighted here are the 8 topics (he elaborates inside):

1 -- Loss of data in the event of a disaster.
2 -- Time and cost overruns.
3 -- Communication gaps
4 -- Poor or wrong decisions.
5 -- Lost opportunity to delight customers.
6 -- Losing the competitive edge.
7 -- Loss of reputation.
8 -- Failing to comply with legal requirements.  
    

When you add these 8 risks, along with the lack of transparency and automated document work flow that comes from a paper based document management system, you have no choice but to come to his conclusion:

"The costs of going paperless are actually miniscule compared to the potential consequences of not switching to electronic document management."

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