If you’re in business, you have paper- but how do you manage it? While some ERP systems do come with basic document management features, many companies still struggle with the inefficiencies of maintaining and organizing paper documents. Integrating ERP and Document management software brings with it many benefits and can help you streamline processes in customer service, HR, accounting, and many other departments by eliminating time wasted hunting for and updating documents, not to mention the cost of printer paper, ink, and other materials. The best way to fully grasp the benefit of this integration is to first look at how much it may be costing you to manage paper based systems and processes.
The cost of managing paper processes
A Price Waterhouse Coopers study found that the average worker spends approximately 40% of their time managing non-essential paper documents, while the International Data Corporation (IDC) estimates that employees spend as much as 20% of their day looking for hard copy documents and don’t find what they’re looking for 50% of the time. Consider that the average business spends $20 for labor and materials to file each document and about $120 searching for documents that weren’t filed correctly and $250 to recreate each lost document. Further, the labor and material cost for each four-drawer file cabinet is estimated at $25,000 and $2,000 annually to maintain the documents in it. That may seem unlikely or extreme, but the costs add up fast when you truly look at the amount of time spent managing paper-based systems.
Benefits of Integrating ERP and Document Management Software
ECM software can solve a variety of problems for companies ranging from general issues such as collaboration, knowledge sharing, and workflow to very specific challenges that are unique to industries or even issues unique to your company. Below are some of the things you could do with ECM:
- Financial Reports
- Accounts Payable
- Accounts Receivable
- Purchase Orders
- Estimates & Quotes
- Sales Orders & Returns
- Warranty & Claims Management
- Shipping & Receiving
- Quality Management
- Engineering & Formula Management
- Inventory Management
- Manufacturing Resource Planning
- Marketing & Sales Documents
- Policy Administration
- Product Lifecycle Management
- PO Requisition & Request for Quotes
- Service Management
Still looking for the right solution? Our Document Management Resource Library below contains everything you need for finding the right document management solution, including, product information, options for Epicor ERP, Sage 100 ERP, Sage 500 ERP, Sage ERP X3, videos, success stories, white papers, and more.