{"id":34466,"date":"2020-04-14T11:24:29","date_gmt":"2020-04-14T03:24:29","guid":{"rendered":"https:\/\/zegal.com\/?p=34466"},"modified":"2022-08-17T13:00:02","modified_gmt":"2022-08-17T05:00:02","slug":"document-management-system-can-reduce-costs","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-nz\/blog\/post\/document-management-system-can-reduce-costs\/","title":{"rendered":"5 Ways A Proper Document Management System Can Reduce Costs\u00a0"},"content":{"rendered":"<div id=\"contentsContainer\">\n<div id=\"contents\">\n<figure id=\"attachment_34467\"  class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-34467 size-large\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-1024x683.jpg\" alt=\"\" width=\"1024\" height=\"683\" srcset=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-1024x683.jpg 1024w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-300x200.jpg 300w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-768x512.jpg 768w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-1536x1024.jpg 1536w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-2048x1365.jpg 2048w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-640x427.jpg 640w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-1200x800.jpg 1200w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/batch-books-document-education-357514-1920x1280.jpg 1920w\" sizes=\"auto, (max-width: 639px) 98vw, (max-width: 1199px) 64vw, 770px\" \/><figcaption class=\"wp-caption-text\">Image credit: Pexels<\/figcaption><\/figure>\n<p id=\"E113\"><span id=\"E114\">Systematic and effective document management in the digital era means automating and digitalising organisational processes, but not everyone adopts this.&nbsp;<\/span><\/p>\n<p id=\"E115\"><span id=\"E116\">Many brands and firms still operate manual processes, but that isn&#8217;t an efficient system. By adopting a document management system, you can <\/span><span id=\"E117\">cut operational costs and improve your workflow<\/span><span id=\"E118\">. &nbsp;<\/span><\/p>\n<p id=\"E119\"><span id=\"E120\">Companies these days leverage a host of various technologies to ensure the smooth running of their businesses. From accounting and billing software to law firm case management systems, many organisations <\/span><a id=\"E121\" contenteditable=\"false\" href=\"https:\/\/zegal.com\/blog\/post\/4-easy-ways-digitally-organised\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span id=\"E122\">have technology staples<\/span><\/a><span id=\"E123\"> in their toolboxes.&nbsp;<\/span><\/p>\n<p id=\"E124\"><span id=\"E125\">However, despite these tech aids, the <\/span><span id=\"E126\">document management system (DMS)<\/span><span id=\"E127\"> is the most fundamental and foundational tool for any business or law firm.&nbsp;<\/span><\/p>\n<p id=\"E128\"><span id=\"E129\">So in this piece, we will examine how a proper DMS can cut down your operational costs and other benefits of implementing such a system to your workflow. &nbsp;<\/span><\/p>\n<h4 id=\"E130\" class=\"qowt-stl-Heading2\"><span id=\"E133\">1. Matter Centricity&nbsp;<\/span><\/h4>\n<\/div>\n<\/div>\n<div id=\"contentsContainer\">\n<div id=\"contents\">\n<p id=\"E134\"><span id=\"E135\">Businesses and law firms alike create and process various forms of data and information: from audio or video files to documents, to notes and emails.&nbsp;<\/span><\/p>\n<p id=\"E136\"><span id=\"E137\">These different data types are various kinds of content. And, irrespective of the niche your brand operates in, you should manage and organiae all of your company&#8217;s content with <\/span><span id=\"E138\">matter centricity<\/span><span id=\"E139\"> in mind.<\/span><\/p>\n<p><span id=\"E141\">A document management system brings this management and organisation to your brand.&nbsp;<\/span><\/p>\n<p><span style=\"font-size: inherit;\">Most businesses or firms without a proper DMS in place often operate an &#8220;on the fly&#8221; system in organising content:&nbsp;<\/span><\/p>\n<ul>\n<li><span id=\"E145\" class=\"qowt-font1-Arial\" style=\"font-size: inherit;\">Notes or <\/span><span id=\"E146\" style=\"font-size: inherit;\">documents are <\/span><span id=\"E147\" class=\"qowt-font1-Arial\" style=\"font-size: inherit;\">saved void of consistency, on individual apps or paper.&nbsp;<\/span><\/li>\n<li><span id=\"E150\" class=\"qowt-font1-Arial\" style=\"font-size: inherit;\">Matter<\/span><span id=\"E151\" style=\"font-size: inherit;\">&#8211;<\/span><span id=\"E152\" class=\"qowt-font1-Arial\" style=\"font-size: inherit;\">specific emails are scattered across the email address of multiple addresses.<\/span><\/li>\n<li><span style=\"font-size: inherit;\">Matter documents are spread between individual computers, local file servers, and network drives.<\/span><\/li>\n<\/ul>\n<p id=\"E154\" class=\"qowt-li-1_0 qowt-list\">\n<p id=\"E157\"><span id=\"E158\">There is also disjointed content management in place, with little to no uniformity. How and why content is put in a certain location isn&#8217;t specified, and there is no definable location of storage. &nbsp;<\/span><\/p>\n<p id=\"E159\"><span id=\"E160\">Most times, the management process depends on the discretion of each employee, which leads them to store data where they deem fit per time.&nbsp;<\/span><\/p>\n<p id=\"E161\"><span id=\"E162\">With a document management system, however, you can <\/span><strong><span id=\"E163\">create a matter centric structure that organises all data by matter<\/span><\/strong><span id=\"E164\">. You can save files and documents of a&nbsp;specific case or business deal in a particular matter record.&nbsp;<\/span><\/p>\n<p id=\"E165\"><span id=\"E166\">It will also store emails regarding that same matter irrespective of who receives it in that location. Even phone call notes, research notes, and meeting notes can also be saved, time-stamped and stored in the matter alongside every other data.&nbsp;<\/span><\/p>\n<p id=\"E167\"><span id=\"E168\">Such an order in place can reduce operational costs <\/span><a id=\"E169\" contenteditable=\"false\" href=\"https:\/\/www.openkm.com\/blog\/how-can-document-indexing-improve-business-efficiency.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span id=\"E170\">by saving time<\/span><\/a><span id=\"E171\">. In business, time is money. With a document management system, you can effortlessly search, locate, organise and analyse your data with speed.<\/span><\/p>\n<p id=\"E172\"><span id=\"E173\">By cutting down the time to pull out data necessary to do jobs, you <\/span><strong><span id=\"E174\">boost your productivity and efficiency<\/span><\/strong><span id=\"E175\"><strong>,<\/strong> which means lower costs and a healthy bottom line.&nbsp;<\/span><\/p>\n<h4 id=\"E176\" class=\"qowt-stl-Heading2\"><span id=\"E179\">2.&nbsp; Reducing the Need for Heightened Document Security&nbsp;<\/span><\/h4>\n<p id=\"E180\"><span id=\"E181\">Physical or paper records are frail and vulnerable to compromise, damage, fraud, loss, <\/span><a id=\"E182\" contenteditable=\"false\" href=\"https:\/\/zegal.com\/blog\/post\/protecting-company-data-from-employee\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span id=\"E183\">theft, and more<\/span><\/a><span id=\"E184\">.&nbsp;<\/span><\/p>\n<p id=\"E185\"><span id=\"E186\">These vulnerabilities increase the need to boost security measures to secure paper documents such as housing documents off-site or building secure facilities that can protect your records against intruders.&nbsp;<\/span><\/p>\n<\/div>\n<\/div>\n<div id=\"contentsContainer\">\n<div id=\"contents\">\n<p id=\"E187\"><span id=\"E188\">After implementing a proper document management system, the need to spend on such security measures isn&#8217;t necessary. <\/span><\/p>\n<p id=\"E189\"><span id=\"E190\">With <\/span><span id=\"E191\">digitalised<\/span><span id=\"E192\"> records and data, you can <\/span><strong><span id=\"E193\">keep your electronic files safe from damage<\/span><\/strong><span id=\"E194\"> by implementing simple and low-cost strategies like permission settings, backups, etc.&nbsp;<\/span><\/p>\n<h4 id=\"E195\" class=\"qowt-stl-Heading2\"><span id=\"E198\">3. Cloud-Based DMS Search and OCR Cuts Down Traditional IT &amp; Server Costs<\/span><\/h4>\n<figure id=\"attachment_34473\"  class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-34473 size-full\" src=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-07-at-1.43.34-PM.png\" alt=\"\" width=\"588\" height=\"350\" srcset=\"https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-07-at-1.43.34-PM.png 588w, https:\/\/zegal.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-07-at-1.43.34-PM-300x179.png 300w\" sizes=\"auto, (max-width: 639px) 98vw, (max-width: 1199px) 64vw, 588px\" \/><figcaption class=\"wp-caption-text\">source: Freepik<\/figcaption><\/figure>\n<p id=\"E201\">\n<p id=\"E221\"><span id=\"E222\">There are many reasons for an organisation, especially a law firm, to incorporate a document management system. But the main benefit for most legal companies is <\/span><span id=\"E223\">search and <\/span><strong><span id=\"E224\">optical character recognition (OCR)<\/span><\/strong><span id=\"E225\">. <\/span><\/p>\n<p id=\"E226\"><span id=\"E227\">That means being able to quickly and efficiently search through all your business or firm\u2019s documents, cases, notes, emails &#8211; and always see what you\u2019re searching for. &nbsp;<\/span><\/p>\n<p id=\"E228\"><span id=\"E229\">With a <\/span><a id=\"E230\" contenteditable=\"false\" href=\"https:\/\/www.gocodes.com\/cloud-business-management\" target=\"_blank\" rel=\"noopener noreferrer\"><span id=\"E231\">cloud-based document management system<\/span><\/a><span id=\"E232\">, your organisation will be more effective in searching your data storage, even if it&#8217;s enormous (terabytes) and finding the exact document you&#8217;re searching for.&nbsp;<\/span><\/p>\n<p id=\"E233\"><span id=\"E234\">If you have a disjointed data repository, it&#8217;s impossible to conduct a comprehensive search when performing a conflict search or searching for a specific document. &nbsp;<\/span><\/p>\n<p id=\"E235\"><span id=\"E236\">A good <\/span><strong><span id=\"E237\">cloud-based management system will index all your business data<\/span><\/strong><span id=\"E238\"> and make all data easy to find with a single word or phrase. Inter-departmental document exchange is <\/span><span style=\"font-size: inherit;\">made effortless.<\/span><\/p>\n<\/div>\n<\/div>\n<div id=\"contentsContainer\">\n<div id=\"contents\">\n<p id=\"E239\"><span id=\"E240\">OCR is also another ability with cloud systems worth noting. OCR tech will allow you to<\/span><strong><span id=\"E241\"> turn physical documents into scanned readable and indexable documents<\/span><span id=\"E242\">.&nbsp;<\/span><\/strong><\/p>\n<p id=\"E243\"><span id=\"E244\">With that said, a cloud-based management system has more benefits. And these include the capability to have all data, anytime and anywhere. You also exclude the worries of IT servers and the challenges they come with.&nbsp;<\/span><\/p>\n<p id=\"E245\"><span id=\"E246\">This means you cut down costs on IT support, maintaining servers, purchasing software, etc. <\/span>&nbsp;<\/p>\n<h4 id=\"E247\" class=\"qowt-stl-Heading2\"><span id=\"E250\">4. Effective Use of Space&nbsp;<\/span><\/h4>\n<p id=\"E251\"><span id=\"E252\">Physical business documentation processes come with a lot of paperwork that necessitates a physical storage space. <\/span><\/p>\n<p id=\"E253\"><span id=\"E254\">For organisations like law firms that require tons of paperwork, it would mean having to acquire a larger space over time.&nbsp;<\/span><\/p>\n<p id=\"E255\"><span id=\"E256\">By incorporating a document management system, you can <strong>e<\/strong><\/span><strong><span id=\"E257\">liminate the need for physical storage<\/span><\/strong><span id=\"E258\"><strong>,<\/strong> which cuts out the need for a larger space. This reduces operational costs and provides you with more storage space.&nbsp;<\/span><\/p>\n<h4 id=\"E259\" class=\"qowt-stl-Heading2\"><span id=\"E262\">5. Reduction in Equipment and Supply Costs&nbsp;<\/span><\/h4>\n<p id=\"E263\"><span id=\"E264\">Business equipment is a necessity for any organization to function. But not when these pieces of equipment are antiquated or outdated.<\/span><\/p>\n<p id=\"E265\"><span id=\"E266\">Equipment like <\/span><strong><span id=\"E267\">filing cabinets, printers, paper, toner, ink, and repairs plus maintenance fees<\/span><\/strong><span id=\"E268\"> aren&#8217;t solid investments anymore for any business as a data management system eliminates the need for all of them with greater efficiency. <\/span><\/p>\n<p id=\"E269\"><span id=\"E270\">By reducing the purchase and maintenance of such equipment, you can cut down on redundant supply costs, as well as lower <\/span><a id=\"E271\" contenteditable=\"false\" href=\"https:\/\/zegal.com\/blog\/post\/is-legal-tech-making-the-legal-industry-greener\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span id=\"E272\">your firm\u2019s carbon footprint<\/span><\/a><span id=\"E273\">.<\/span><\/p>\n<h4 id=\"E274\" class=\"qowt-stl-Heading2\"><span id=\"E277\">Conclusion&nbsp;<\/span><\/h4>\n<p id=\"E278\"><span id=\"E279\">A document management system is crucial for any organisation seeking operational cost reduction.<\/span><\/p>\n<p id=\"E280\"><span id=\"E281\">A cloud system allows you to focus on your business without having to worry about servers and IT challenges. Additionally, your data and documents are less vulnerable to loss or damage. The system makes your workflow move with ease and will increase customer and employee satisfaction.<\/span><\/p>\n<p id=\"E282\">\n<p id=\"E284\"><em><span id=\"E285\">Joe Peters is a Baltimore-based freelance writer and an ultimate techie. When he is not working his magic as a marketing consultant, this incurable tech junkie devours the news on <\/span><span style=\"font-size: inherit;\">the latest gadgets and binge-watches his favourite TV shows. Follow him on <a href=\"https:\/\/twitter.com\/bmorepeters\">@bmorepeters<\/a><\/span><\/em><\/p>\n<p class=\"p1\" style=\"text-align: center;\"><b><i>This article does not constitute legal advice.<\/i><\/b><\/p>\n<p class=\"p2\" style=\"text-align: center;\"><i>The opinions expressed in the column above represent the author\u2019s own.<\/i><\/p>\n<p class=\"p3\" style=\"text-align: center;\"><span class=\"s1\"><a href=\"https:\/\/register.zegal.com\/\"><b>Start managing your legal needs with Zegal today<\/b><\/a><\/span><\/p>\n<p><a href=\"https:\/\/zegal.com\/blog\/post\/data-science-as-a-bridge-between-business-and-technology\/\">READ MORE: Data Science as a Bridge Between Business and Technology<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Systematic and effective document management in the digital era means automating and digitalising organisational processes, but not everyone adopts this.&nbsp; Many brands and firms still operate manual processes, but that isn&#8217;t an efficient system. By adopting a document management system, you can cut operational costs and improve your workflow. &nbsp; Companies these days leverage a [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":34467,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":4,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","inline_featured_image":false,"footnotes":""},"categories":[55],"tags":[8635,10307],"usecases":[],"businesstypes":[],"country":[],"class_list":["post-34466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-productivity","tag-the-cloud","tag-z-syndicate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.8 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>5 Ways A Proper Document Management System Can Reduce cost<\/title>\n<meta name=\"description\" content=\"A document management system is crucial for any organization seeking operational cost reduction. Everything you need to know.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zegal.com\/en-nz\/wp-json\/wp\/v2\/posts\/34466\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways A Proper Document Management System Can Reduce Costs\u00a0\" \/>\n<meta property=\"og:description\" content=\"A document management system is crucial for any organization seeking operational cost reduction. 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