Top 5 ways document management reduces operational costs

By Key Digital

06 Apr 2021

money.jpg

CFOs and CIOs looking for ways to reduce costs and maximise productivity already know that a good document management pays for itself in a matter of months. Digital document management (sometimes called “enterprise content management” or ECM) cuts man-hours and therefore costs by automating workflows and eliminating time-consuming manual tasks.

In ROI research studying the cost benefits of investing in document management, Nucleus Research found returns of $8.55 (£6.20) per every dollar spent by small and medium-sized businesses (SMBs). Their report reveals the key benefits and best practices for SMBs to start saving on every dollar and win back employees’ time. Five ways to save on operational costs

1. Storage costs

Switching from paper-based processes to digital document management means you no longer need to pay to store and maintain hard copies of your business records on or off site.

2. Copying and printing costs

Digital document management eliminates the need to print and file paper documents. And in today’s remote working environment – digital files can be shared securely and instantly – that’s what we all need – not printed copies. With a document management system, everything from correspondence and emails to invoices and contracts are stored in digital format. A current copy of these electronic documents is archived in the system’s centralised repository, where it’s available to all authorised users. Version control ensures that everyone is working on a single, up-to-date document. The result? Your employees save time and your company saves money on printing, supplies and equipment.

3. Staff time

Employees spend less time storing, retrieving and sharing documents. Tasks that took minutes or hours with a manual, paper-based system take seconds with a digital document management system. This is a huge plus for HR departments, for example… They can streamline recruitment; automate all onboarding tasks; secure employee files in an encrypted repository to satisfy privacy and regulatory requirements; and monitor their performance appraisal timelines. HR staff can also eliminate redundant data capture by using web forms to capture employee data.

4. Business process costs

Automated workflows streamline business processes in accounting, sales, customer services, HR and other departments. Optimising these workflows leads to faster payment collection, lower purchasing costs, higher customer satisfaction and increased employee retention.

5. Security and disaster recovery costs

Backing up your documents is a breeze when you use cloud-based solutions. Document management systems protect business-critical information with document and communication encryption; separation of customer data from system data; and secure data storage. Multiple instances of data redundancy to ensure data can be restored even if the active system becomes unavailable. Even mobile users have secure access to necessary data.

In addition, with robust logging and analytics capabilities, organisations have a record of who accessed, changed or removed a document and when. Consider these five ways digital document management reduces costs. There’s a great opportunity to improve the bottom line and implement efficient processes to ensure that your company is agile and responsive to the changing business environment.

Click here to download our free ebook 'Going Paperless in 90 Days'

Latest news

1

Beever and Struthers advise on £1.5bn funding for 2,000 new social homes a year John Jones

Beever and Struthers advise on £1.5bn funding for 2,000 new social homes a year

03 Jul 2025

2

Airframe Designs aligns with US programme for additive manufacturing growth Additive manufacturing technology unit At Airframe Designs

Airframe Designs aligns with US programme for additive manufacturing growth

03 Jul 2025

3

Panache Cruises on course for further growth with support from Rosebud James Cole

Panache Cruises on course for further growth with support from Rosebud

03 Jul 2025

4

Lancashire emerges as key player in UK's Defence and Tech Sector Mo Isap Chair Of The Lancashire Business Board Nick Miles National Cyber Force Deputy Director For Samlesbury Annette Weekes Representative Of The NWRDSC

Lancashire emerges as key player in UK's Defence and Tech Sector

03 Jul 2025

5

Report shows impact of BAE Systems in Lancashire BAE Systems Radar

Report shows impact of BAE Systems in Lancashire

02 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

The Marketing Metrics that Matter – July 4
LBV Hub Seminars
04 Jul 2025 - 04 Jul 2025

The Marketing Metrics that Matter – July 4

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

08:30 - 11:00

Tri-Site Survey Equipment Showcase
unnamed (2).jpg.jpg
LBV Hub Seminars
09 Jul 2025 - 09 Jul 2025

Tri-Site Survey Equipment Showcase

Crow Wood Hotel, Burnley, BB12 0RT

09:30 - 16:00

Choose Chorley for Business - Talent Reimagined Business Breakfast
talentreimaginedbb.png.png
LBV Hub Seminars
10 Jul 2025 - 10 Jul 2025

Choose Chorley for Business - Talent Reimagined Business Breakfast

Strawberry Fields Digital Hub, Chorley, PR71PS

08:00 - 10:30

Blackburn Cathedral hosts Champagne and Diamonds Event with Ainsworth Jewellers
Champagne-Jewellery 10 07 25_page-0001.jpg.jpg
LBV Hub Awards
10 Jul 2025 - 10 Jul 2025

Blackburn Cathedral hosts Champagne and Diamonds Event with Ainsworth Jewellers

Blackburn Cathedral, Blackburn, BB1 5AA

18:00 - 20:30

Shaping Preston's future by remembering its past
1750160034867.png.png
LBV Hub Networking
16 Jul 2025 - 16 Jul 2025

Shaping Preston's future by remembering its past

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:30

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin