An Easy Way Out of the Downturn with Document Management Solutions

 

Credit Control Magazine published a study showing that most UK business leaders think document management solutions are critical to the country's economic revival. A Document Management system, such as those used for automating procure-to-pay and order-to-cash processes, can provide organizations with improved cash flow and the cost and efficiency savings that will prove essential to lifting them out of the downturn. This article explores the findings of Credit Control in greater detail.

Should You Spend Your Hard-Earned Money on Document Management?

When times are tough economically, it's natural for businesses to look for ways to reduce money without sacrificing key operations. Contrary to popular belief, document management solutions are not an unnecessary or extravagant expense for businesses. Credit Control makes a strong case for why "companies should not be putting their [document management software] purchases on wait" and instead should prioritize spending money on tools that would help them run more smoothly and expand. It is believed that organizations will lose money and perform less efficiently if the necessary software systems are not in place. Managing documents electronically and automating paper-based processes leads to streamlined operations at lower costs and document scanning company uk.

The Credit Control Survey

The survey of 160 senior finance and IT experts (finance directors, financial controllers, and IT Managers) from a wide variety of public and private sector organizations is central to Credit Control's argument. According to the data, 88% of people think firms must have reliable software systems in place to thrive in the modern economy. Sixty percent of these people also agreed that "vital" is the proper word to describe how important it is to have the right software systems. Only 12% of people polled did not agree that having the appropriate software systems in place was critical to a company's success; 10% of those people surveyed called it "pretty significant," and 2% were unsure.

The Best Way to Cut Costs on Paperwork Is Using a Document Management System

Research conducted by Credit Control suggests that top-level executives at most companies understand the significance of software solutions like document management systems to the ongoing performance of the business in whatever economic scenario. It would appear that most people perceive document management as an exceptionally successful way of accomplishing cost-saving and efficiency goals, as 37% of those polled were interested in using online document management system at the time of the survey.

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