Cut Down on Paper with ERP
Experts have long predicted the dominance of the paperless office. However, avalanches of paperwork seem to grow larger and larger. As businesses are bombarded with piles of reports, files and documents, their attempts to analyze data, maintain compliance and manage accounts become increasingly futile. The only way to develop greater organization and productivity is to cut down on tedious paperwork and house all your critical information inside an enterprise resource planning (ERP) system.
Below, we identify some of the problems of entrusting your data to filing cabinets and sticky notes and explain how ERP software can stop paperwork from taking over your office.
Organizations often underestimate the cost of paper documentation. The costs of filing, storing, copying and printing documents add up quickly, amounting to thousands of dollars by the end of the year. That’s not even counting the expenses incurred from errors and delays resulting from paperwork-related mishaps.
It might sound silly to say that enterprise software leads to greater cost reductions than paperwork, but hear us out. Once your ERP is installed, you can manage documents, reports, invoices and more from a single, digital platform. That means not only less printing and filing but also greater insights and organization.
Automated workflows streamline approvals, reduce errors and instantly update information to improve business performance and encourage better decision making. With everything in one place, you’re more likely to make payments on time, avoid various fees and recover digital documents at a moment’s notice, contributing to a stronger bottom line.
As we’ve already touched on, managing paper documents takes time. Manually filling in the blanks, printing documents out, sending them off to the right people, making copies, filing everything away, finding them again—it’s a time-consuming cycle. On top of that, executives and staff spend about 150 hours a year searching for misplaced documents, taking more time away from their critical operations.
Get back all that wasted time by investing in ERP. By eliminating manual data entry and housing documents in one place, ERP maintains accuracy without consuming hours of your precious time. It also makes information accessible from any device, so users can view and edit documents no matter where they conduct business. ERP can save employees 11 hours per week and save business owners six hours per week by making forms digital.
Companies can enjoy even greater productivity when they find an ERP solution with a built-in enterprise content management (ECM) solution. Epicor, for example, partnered with DocStar to automate content management and common business activities such as AP invoice approval and order processing. Search features help users instantly recover documents and create countless workflow combinations to streamline unique business processes.
Errors and Lost Data
Manual data entry doesn’t just waste time. Employees are bound to mistype some information from time to time, delaying sales cycles and hurting your company’s reputation. Even worse, twenty-five percent of lost paper documents are never found. If a storm rips through your office, your critical information is gone for good. These issues can result in astronomical business disasters, from destroying your data integrity to creating serious compliance and customer service pitfalls.
When data is instantly updated and automated workflows are in place, you can rest assured that your information is precise. Users will be able to not only locate the most up-to-date information but also check for document edits and save multiple versions. With everything stored in your ERP, you won’t risk the loss of essential data. Plus, with ERP in the cloud, you can even access digital documentation if your office experiences damage.
Though businesses often fear information getting leaked or hacked when they implement software, an insider is often the one who does the harm. Paper documentation makes access to sensitive data all too easy. With access trickier to manage, employees can easily retrieve any document they want, creating a major threat to data privacy.
ERP software manages a delicate balance between visibility and protection. Though enabling users from multiple departments and locations to utilize essential functionality, ERP also allows system administrators to establish various levels of security protocols, whether it’s granting full access to documents only to relevant parties or limiting printing and editing permission to specific users. Additionally, DocStar provides Epicor users with extra protection through secure encryption and audit trails that identify areas of non-compliance.
Business waste takes on myriad shapes, but the most prevalent form by and large is paper. Paper takes up about 40 percent of business waste, severely impacting environmental conservation efforts.
ERP software is known to cut waste by enforcing lean production principles, tracking energy consumption and reducing excess materials and inventory. But what often gets overlooked is its ability to organize content electronically and decrease paper consumption. ERP, especially deployed in the cloud, offers the tools to help you become a greener enterprise.
There’s no room for piles of papers and filing cabinets in today’s businesses. With ERP software, companies can maximize productivity and accuracy to reach a new level of success and mitigate risk. By teaming up with DocStar, Epicor proves its commitment to helping businesses optimize their performance.
A vendor for AP Automation and Enterprise Content Management solutions, DocStar has streamlined processes and reduced paperwork for thousands of organizations across multiple industries. The combined power of Epicor and DocStar will introduce greater efficiency and precision to your enterprise.
At Datix, our ERP experts know what it takes to offer the necessary features and process automation to meet your unique requirements. As a certified Epicor partner, we know the vendor inside and out, giving us the knowledge to help each manufacturing and distribution client get the most from their software. But we go well beyond Epicor, offering CRM, eCommerce and integration services and solutions to serve as a one-stop shop for all your software needs.
Stop losing track of vital information. Hone your document management strategy by getting in touch with Datix’s premier consultants today!