How bad document management is hurting your business

We live in a world where we expect quick and accurate access to information. In your business, if you, your staff, or your clients can’t access documents, receipts, personal records, and other files right away, it can have a severe impact on your business operations.

Bad document management can hurt your business and here’s why (and how to fix it):

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Financial implications

If your documents are not stored properly and become lost, or cannot be referenced in a timely manner, you may experience financial penalties. Your business probably has many legal reporting obligations and if you can’t provide the correct documents and records to back it up when requested, you could face significant costs, not to mention the potential to lose customers because you’re not responding in a timely fashion!

To avoid costly financial implications, ensure your records are scanned and indexed in a logical and timely manner.

Legal considerations

Should you ever find yourself in a legal situation like a lawsuit or claim, you will need to provide detailed and organized documentation to support your case. If your files are unorganized, missing, or damaged to a point where the information is no longer readable, you could lose a case against you.

To help avoid any legal complications, ensure your records are scanned and indexed in a logical and timely manner.

Data Loss

As we’ve learned the hard way in 2020, anything can happen! If something happens to your business and you lose your physical documents or your local digital copies through accident, natural disaster, or theft, you could lose your entire business (or more).

To avoid losing your sensitive business data and records in an unexpected accident or theft, keep a digital back-up or digitally archived copy of your files offsite.

How to create a document management system

To avoid financial and legal complications from a poorly managed data management system in your company, put a document management system in place now. Be sure to consider:

• What software you will use for your data management?
• How you will convert physical copies into digital formats?
• Where you will store off-site digital back-ups?
• What’s your disaster recovery plan to restore your data should your local or original copies be lost?
• How often will you audit your system to ensure it’s functioning as expected?

Once you have a handle on the physical documents you want to create digital copies of, call a local professional document scanner like Micro Com Systems who can advise the best processes, software, and systems to implement your plan.

Vancouver Document Management Systems Company

To get a free scan sample from Micro Com Systems or call them today to talk about how they can help you with professionally scanned records and documents for your new document management system today.