Electronic Document Storage – How blue chip companies are becoming more efficient

Efficiency is one of the fundamentals for business growth and profitability. It’s no surprise then, that large businesses are constantly looking for every possible opportunity to enhance their operations and streamline their processes. And many have found that in digitisation. In this blog, we’ll look at the myriad of benefits of Electronic Document Storage (EDS), and how, because of it, many blue chip companies are more efficient than ever before.

What is Electronic Document Storage?

In today’s digital age, the need for quick access to information is not a nice-to-have, but necessary for any efficient business. More and more blue chip companies are turning to Electronic Document Storage services to achieve that. EDS allows a business to convert their paper-based business information into a digital version. Once digitised, the information is then housed, protected and categorised, making it more organised and much easier to access from anywhere in the world.

Migrating towards efficiency

The migration from a manual system to electronic document management is an important step towards gaining a wealth of efficiencies for any business. For starters, businesses no longer require the space needed to house paper-based documents, nor do they face the challenge of making that information available to several staff members at any given time. Digital storage is safer, and mitigates the risk of damage to a business’ paper-based documents. However, the change from paper-based systems to digital systems requires a shift, not only in a business’ systems, but in the way its people approach data as well.

The key to this change lies in a business understanding the efficiency that an EDM system offers. There are countless benefits to an electronic management system, and each of them exists to streamline the inner workings of a business, so that the workforce are able to focus on the output of the business instead. Below, we’ll explore the most significant benefits of migrating towards an EDM system, and how businesses adopting EDM systems are significantly more efficient than their competition.

The Benefits of EDM Systems

Data Accessibility With an EDM system, a business’ data is accessible to both staff and customers 24 hours a day, from anywhere in the world. This is especially relevant in this age of remote and hybrid working, decreasing the time it takes to access information and increasing staff’s operational ability, as well as their productivity.

Data Security One of the more immediate and beneficial advantages of migrating to an electronic document management system is that it provides advanced security features. Large companies who have undergone the digital migration are protecting their business’ information with cybersecurity tools including encryption and access control amongst many others. Unlike paper-based systems, this ensures the confidentiality and integrity of that business’ data and sensitive information.

Process Efficiency Because EDM systems simplify access, sorting and sharing of data, workflow is significantly more streamlined. When digitising their documents, the processes are able to be automated, saving business time, resources and being able to serve their customers quicker and more efficiently.

Reduction in errors and missing documents Because an EDM system is automated and the data is digital, the human risk factor is significantly reduced. By digitising their data, the quality of a business’ processes is improved, and they are less likely to pay for costly errors made around the access and sharing of their data.

Ensured Compliance Most EDM system suppliers cover the required digital compliance responsibilities, ensuring that your business meets industry regulations, and helping that business avoid any potential legal risks.

Metadata When a business migrates to an EDM system, they have access to their metadata. Metadata is data that describes and represents digital content. By migrating to an EDM system, a business would have then have metadata around every piece of content within their database, including the title, author, notes, and location. This allows them to streamline their document management, it makes storage and access more organised and instantaneous and the safekeeping and preservation of the data is significantly improved.

The trusted EDM systems partner

Migrating to an EDM system won’t just ensure a business keeps up with the times, it allows that organisation to master the ever-changing landscape of business in the digital age, while maintaining the highest possible standards of efficiency and security. Micro Image is a leader in the Electronic Document Storage industry. We offer high-resolution, indexed and checked digital images, as well as highly secure cloud-based EDM solutions that allows you to store and share files and data with access from anywhere at any time.

Through our proprietary cloud-based document management platform you can access a centralised document hub for all file types, documents and data. You’ll also benefit from quick file access through keyword or metadata searches. We also offer dashboard functionality which provides our ongoing clients with trusted business analytics, as well as integration with legacy systems, promoting the consolidation of information for a single source of truth. Speak to one of our EDM systems experts today, to accelerate your business towards increased efficiency.