Why Companies Should Care About Collaborative Document Management

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Document management software has been a reality in business circles for years now, but there’s now a new aspect of this practice that’s helping companies gain momentum, speed up processes and move past competitors. It’s called collaborative document management (CDM), and this makes everything much easier in the area of real-time document and process management. Small businesses know they need to get past paper. If a company has a sales team out in the field, it’s important to stay in real-time communication with this team. They need tools to send documents to clients, collaborate on contracts, share invoices and more without spending a fortune. Without this technical proficiency, a business can lag behind and smother itself in yesterday’s paperwork without having enough time to look ahead.

Time-Saving Elements

Time is one of the most limited resources in the world. It is imperative for businesses to come up with working protocols geared towards saving time and achieving short and long-term goals. Collaborative document management can help you achieve this objective. It only takes a few seconds to scan and send documents once you download and install software or an app on your smartphone or tablet. This will save time for other income-generating activities.

Money-Saving Elements

The cost of printing documents on paper, distributing them throughout the organization and waiting for print feedback can substantially slow down a company’s momentum. It can also increase operating costs and lower profit margin. There should be no need to purchase printing paper or printers any longer – except for the need to wait for other companies to catch up. Any good CDM solution will automatically help employees prepare and work with documents from anywhere. No prior experience should be required as all the functions are clear once the CDM solution is in place.

Economies of Technology

Sharing, editing, commenting and approving documents on paper or MS Word documents has always been a laborious, frustrating task. Isn’t it time to make better efficiencies of scale? Collaborative document management allows businesses to save all its documents in the cloud or in the company’s servers. This means there is no need for a storage room nor to hire personnel to ensure that the files are in good order. More importantly, the documents can be stored in a secure cloud for future and continual reference.

More Security

To ensure that classified business information does not land in the wrong hands, organizations need to come up with solid security frameworks. As just a basic starting point, CDM solution apps need to be 100% secure where access is nailed down and limited; an app that times out if you walk away for a significant time. It also needs to be possible to secure files with passwords.

Improves Brand Competitiveness

Nowadays, customers are more attracted to businesses that have embraced various technological advancements. For instance, sending digital invoices to clients will paint a very positive image of a company especially when trying to launch products in a new market. If a customer or client is going to engage with a technology or tech-based company it reassures them they are working with knowledgeable people, willing to try new things.

Promotes Accountability

Simple accounting errors such as sending inaccurate invoices to clients can spell doom for a business’s reputation and sales. Ideally, scanning the hardcopy document directly using a phone camera, reduces the chance of making mistakes to almost zero. However, that doesn’t remove the need to make sure the original copy is accurate and contains all required information.

Promotes Environmental Wellness

Using digital forms of communication eliminates use of paper products. In turn, this lessens the ecological impact. This is the first thing a lot of people think of but there’s so much more. By embracing this new collaborative documents management solution, the demand for paper is lower. For a variety of reasons, workers are learning to work digitally and remotely for collaboration. Saving time and money are often two paramount goals for businesses. Being able to offer a secure environment for contracts and other official documents is also moving online more as trust grows. There’s a tipping point, coming sooner than some people expect, where this will be the norm. That’s why companies should care and investigate these collaborative document management solutions now.