Document management systems designed to fit the bill

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Credit LeoSynapse

Whatever your legal business, the new widely available document management systems can work for you.

In the dim and distant past, long before technology took hold, working in accounting and finance meant entering figures manually which, in turn, could lead to countless hours spent recalculating and tracking down errors. Thankfully such labour-intensive work is in the past and thanks to developments in technology, tasks which once took many hours for several people to carry out, now takes as little as ten minutes for a single software programme.

Although you would think that the use of accounting and finance technology is now commonplace, according to research carried out in Germany in 2010, just 5% of the 30 billion invoices processed across Europe in 2010 were handled electronically.  This highlights the need for financial documents to be handled electronically as manual processing can increase the cost of processing a single invoice by as much as 20%.

However, although the significant cost differential between manual and electronic processing is a serious issue, perhaps of greater concern is the delays which can be caused by manual processing.  When an invoice, for example, is processed manually 20% of the time it spends working its way through the system will be in ‘transit’, with 5% in actual processing and a staggering 75% of the time doing nothing at all.  During the 75% of time that an invoice is doing nothing at all, the chances are that this idle time is caused by a system which requires a high level of managerial or supervisory input.

Anything that reduces the time that invoices and other financial documents spend being idle can only be seen as a good thing and as something which will save money and time.  Clerical tasks which are simply demanding in terms of time but could be carried out electronically, can no longer be justified in a dynamic business environment.

Nowadays there’s no good reason why an invoice should remain idle for so long.  Businesses have at their disposal a wide range of different options for dealing with invoices far more quickly than they are doing at present.

Using an e-invoicing system really should be seen as an urgent goal for businesses of all shapes: not only will it help to improve the management of cash flow and spending, it will also provide enhanced visibility of the entire invoicing process. E-invoicing needs the minimum of human intervention and signals an end to invoices sitting dormant for 75% of their life time and this is something that has got to be a good thing for everyone.

If you are looking for further advice and information on how to streamline your financial systems, you’ll find that there are a number of document management companies and associations based across the UK.  Working with an established, reputable document management company has the potential to reduce your reliance on paperwork, streamline your systems and increase efficiency.  So rather than relying on out-dated paper-based accounting systems, why not choose to automate your accounts department?

 

 

 

Safe and secure document management for legal companies

Document management is a huge issue for many legal companies and striking the balance between client security and paperwork storage can be costly and time consuming.  Streamlining your legal documentation can help save time and effort, whilst also reducing printing costs and you’ll find that there are a wide range of document management services available, specially designed to meet the needs of legal companies.

Many legal companies face significant costs incurred through the reproduction of documents, costs which are often never recovered.  Copying and reproduction costs are incredibly hard to calculate on a daily basis, whilst the time-consuming task of photocopying legal documents is usually passed on to junior staff.

Using a specialised legal document scanning and management service is a great way to cut the time and money you spend on copying whilst providing you with an accurate record of your copying costs which can then be passed on to your clients.

Once scanned or photocopied, legal documents can normally be returned in a number of different formats.  A digital format – normally PDF – is one of the most popular options and provides a number of different benefits.  Digital files don’t take up valuable office space and when used with OCR software (optical character recognition) will allow phrase or word searching capabilities within each file or throughout an entire bundle of documents.    Your electronic files can be returned to you in a range of different formats such as CD, DVD, external drive or a memory stick.

Many document management companies also offer the option to store documents in a secure online facility or virtual data storage room.  Online storage facilities offer a wide range of benefits including multiple user access with different levels of user access security.

If you’d prefer to receive your copied or scanned documents as hard copies, large-volume printers are used by document management companies, with the capability to produce copies in a wide range of different sizes, normally up to paper size A3.  It is also possible to produce copies of photos onto photograph paper and copied documents can be collated, stapled, punched and with the insertion of dividers.

Another incredibly useful service which is now widely available to legal companies is electronic disclosure.  Electronic disclosure or E-disclosure is the process of capturing, collecting, restoring and searching very large volumes of documents which have been electronically scanned to be used during disclosure in civil litigation.

E-disclosure is designed to locate quickly relevant documents from a large number of randomly stored files in a way that is accurate, thorough and cost-effective.  When combined with the scanning and digitisation of your paper documentation, E-disclosure will result in a complete library of legal documents, ready to enable full disclosure as and when required.

For additional security and peace of mind, most E-disclosure systems allow data and files to be readily available but with enhanced levels of security and safety.  For example, the majority of actions can only be carried out with user permissions, including file uploads, file reviews, file amends and file approval.  In addition, the release of documents to third parties is controlled and highly secure at all times.

So rather than writing-off the costs you currently loose on legal copying and document storage, why not consider using the services of a professional legal document management company?  A great way to free up office space and your employees time, legal scanning and document management will also help you tackle that paperwork mountain!