8 Benefits to Gain by Outsourcing a Document Management Provider
Outsourcing is an unparalleled strategy that enables businesses to focus on their core business needs and better serve their customers. It’s also an effective way to build a culture capable of adapting to change at a moment’s notice. Today, many companies are reviewing their operations in depth to understand their true core competencies and determine what processes to outsource to become more efficient.
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Outsourcing with a document management provider for non-core services such as document shredding, storage and imaging can free up your business processes in a cost-effective manner; letting you focus on your main business goals. Some signs your business should look into outsourcing include: high volume of transactions, complex process requirements, and/or dynamic growth. This may also be ideal if your business is under pressure to reduce costs. Any chance of decreasing transaction-processing costs frees up capital that can then be applied to more strategic initiatives.
Below are eight strategic benefits of using a document management provider:
8 Benefits to Gain by Outsourcing a Document Management Provider
1 -- Improved Company Focus.
A document management provider provides companies with more time to excel and focus on its core company initiatives. Businesses can save money and reduce excess staff by not having to facilitate and support processes such as document shredding, storage and imaging on a daily basis.
2 -- Peace of Mind.
The cost of poor document management is continuously on the rise and can potentially cost your business millions of dollars. According to the Pomenon Institute, the average cost per information security breach in 2009 was $6.75 million. Data breaches not only cost money but cost public trust, which often makes it hard for businesses to recover. The right provider will provide an unbroken chain of custody throughout the entire lifecycle of all your documents. Further it will ensure your company complies with government regulations to remain compliant and credible.
3 -- Access to World-Class Technology Capabilities.
When handling document management needs internally, companies tend to buy lower-end technology to save on cost. However, issues can arise if your company experiences rapid growth. Many companies have to quickly hire and train additional staff and potentially deploy new hardware or software to support the growth, which can be costly and time consuming. By partnering with a secure document management provider, your company can gain instant access to world-class technology capabilities that traditional in-house operations may not have the financial ability to support–at a cost-effective price.
4 -- Enhanced Data Security.
It is critical to proactively protect private business and customer confidential information. With identity theft and data breaches on the rise, partnering with a provider that is AAA NAID certified and PCI-DSS compliant is imperative. NAID certification verifies that your provider adheres to stringent security practices and standards defined by the international trade association for the information destruction industry. PCI-DSS compliance certifies that the organization follows the comprehensive requirements set by the Payment Card Industry Security Standards Council to ensure data integrity. A proper document storage facility is equipped with 24-hour security systems, alarm systems and complete fire protection to safeguard your documents at all times. Further, an imaging service will house files in a secure environment and provide complete backup, redundancy and disaster recovery to ensure your files are never lost or compromised. Lastly, all documents that need to be shredded are constantly monitored and protected until destroyed. You will also receive a certificate and destruction for a legal audit trial.
5 -- A Customized Solution.
Every business has unique challenges when it comes to document management needs. Your provider can offer customized solutions to meet the needs of your business. For example, if your company requires long term record retention but has a low volume of retrieval, it will most likely not be feasible or cost effective to convert every single file. A viable alternative is to partner with a provider that can store and manage large volumes of existing files off-site, yet deliver paper records in an “on-demand” electronic format. This enables employees to work with electronic records on a daily basis and saves the company significantly in converting years of physical records. No matter the size of your organization or what processes need support; your provider can create a customized solution to complement your business needs.
6 -- Increase Productivity and Streamline Staff.
Many companies have a group of employees managing and maintaining the process flow for an abundance of internal documents such as human resources files. By using a document management provider, your staff will be able to focus on their core job responsibilities instead of tending to endless imaging and filing or wasting time trying to locate lost records.
7 -- More Space.
Don’t waste valuable building space for file storage. A document storage provider is ideal if your company has a large volume of records with long retention rates but limited space. Using a secure storage provider will not only free up space, but will offer a secure storage facility equipped with 24-hour security cameras, alarm systems and complete fire protection systems to protect records from catastrophes such as floods and fires. Your files will be stored safely and it’s an efficient alternative to in-house management expenses.
8 -- Regain Control.
Is locating a document like trying to find a needle in a haystack? Managing large amounts of data internally can be difficult to control and often becomes a logistical nightmare. By using imaging and storage solutions, you can locate and gain access to any file at a moment’s notice. For example, with imaging, once files are uploaded into the secured database, they are organized to your specifications, simplifying the retrieval process and providing you with a user-friendly system for filtering and analysis. In the storage environment, all documents are tracked with a barcode system and can be located immediately. This instant access takes guess work out of locating files and lets employees focus on their core job responsibilities.
Bob Hoffman is Director of Imaging Sales for Cintas Corporation. He has more than 23 years of document management experience. For more information, please visit http://www.cintas.com/DocumentManagement/
About John Mancini
John Mancini is the President of Content Results, LLC and the Past President of AIIM. He is a well-known author, speaker, and advisor on information management, digital transformation and intelligent automation. John is a frequent keynote speaker and author of more than 30 eBooks on a variety of topics. He can be found on Twitter, LinkedIn and Facebook as jmancini77. Recent keynote topics include: The Stairway to Digital Transformation Navigating Disruptive Waters — 4 Things You Need to Know to Build Your Digital Transformation Strategy Getting Ahead of the Digital Transformation Curve Viewing Information Management Through a New Lens Digital Disruption: 6 Strategies to Avoid Being “Blockbustered” Specialties: Keynote speaker and writer on AI, RPA, intelligent Information Management, Intelligent Automation and Digital Transformation. Consensus-building with Boards to create strategic focus, action, and accountability. Extensive public speaking and public relations work Conversant and experienced in major technology issues and trends. Expert on inbound and content marketing, particularly in an association environment and on the Hubspot platform. John is a Phi Beta Kappa graduate of the College of William and Mary, and holds an M.A. in Public Policy from the Woodrow Wilson School at Princeton University.