What is Document Management?

Document Management is the control of an organization's documents and their lifecycle, including how and when documents are created, reviewed, published, utilized, retained and destroyed.

Document management systems file, secure, retrieve and share information. Document management is an organized system that methodically processes, stores and recovers documents and the data within them. For hard copy, or paper documents, the process may simply be referred to as a filing system.

How Much Money Is Your Organization Losing Due To Document Mis-Management?

Statistical data has shown that the amount of time wasted on managing documents is rising continuously over the years.

Gartner group has estimated that about 80% to 95% of enterprise information is located in paper and electronic documents out of which 25% are misplaced and are never located. In 1997, the organization estimated that knowledge workers were spending about eight hours a week (or 20% of their work time), on document related tasks. The estimates for 2001 ranged from 20% to 30%, and that for 2003 was to 30% to 40% and these figures are continuously on the rise. Further, the organization reported that over 60% of all companies still process, store and retrieve documents manually. On an average, document mismanagement claims 40% to 60% of office workers' time, 20% to 45% of labor costs and 12% to 15% of corporate revenue.

IDC has reported that in an organization with 1000 users each user spends an average of 3 hours a week recreating content that is either misplaced or lost.

Cap Ventures calculated the handling cost of documents at about 6% to 15% of all revenue of a company. They also concluded that 85% of all archived documents never left its filing cabinet.

To estimate the cost of handling its information, an organization needs to take the above figures (% employee’s time or % revenue) and make the relevant calculations. The cost may surprisingly work out to be significant figure.

Peniel Solution’s Experience

Most organizations rely on their documents for stored information and expect to have that information readily available. Some businesses create millions of documents each year; however, the challenge they face is the excessive accumulation of paper with no storage resolution. Unfortunately, the inefficiencies of filing and storing paper creates exorbitant costs to the company’s bottom line. Business records, documents and paperwork must be organized for quick retrieval. A document management system is a way of handling business records and documents.

Peniel Solutions understand the primary goal for implementing a Document Management system is to create a process to manage documents. With that in mind, PSL has a committed focus to resolving the client’s problems by designing, developing and delivering flexible solutions specific to their needs.

TransAccess is a modular efficient document management system that features security,  storage, and index search retrieval.  With predefined permissions, users can search, retrieve and view multiple documents that exist across the many defined categories within an organization.  By incorporating TransAccess into your organization, your company will reap the benefits of increased security, accessibility and productivity.

The TransAccess Record Information Management solution has all the elements required to deploy an effective records management solution on an organization-wide scale. All this is done through a web browser, thereby eliminating software installation on the desktop. Virtually any site that has access to your intranet or internet will be able to have secure access to the data through a URL address and a TransAccess user account. The TransAccess products are seamlessly delivered through the browser your users know and use.

TransAccess Document Management Demo coming soon.