Article by Stephanie Onofri
What you don’t know can’t hurt you… but it can’t help you either.
While our economy continues striving to recover from the second greatest depression we have ever experienced, the question on every local, county, and state government‘s lips is “How can we save more money?”
Recovery is difficult when upward mobility is stunted by antiquated and time-consuming paper processes. Most of departmental time is spent pushing and chasing hard-copy documents around the office, trailing after approvals, searching for lost information, and mending compliance infringements. But to truly recover means increasing vertical growth by innovating and improving existing policies and legislative processes, and this cannot happen while departments such as Accounts Payable Management struggle to play “catch-up.”
Government AP tracks all sorts of documentation, from expense reports, to invoices for payment, to vendor/client files and correspondences, to monthly budget and expenditure reports, etc. The amount of paper involved in these processes and the cost of storing it limits department growth and innovation. What these Government agency departments may not have considered is that most of those quotidian AP processes can be automated through the right Enterprise Content Management system.
Perhaps eliminating extraneous office spending through document scanning and electronic storage is the beginning of a bright and promising future for Government AP departments.
Did you know that:
- Electronic conversion and automation of system documents can save 30% to 40% percent of employees’ time which is otherwise spent searching for hard-copy data?
- And that being able to access any documents through and Enterprise Content Management solution solves the case for misplaced files, which cost approximately $125 a piece to recover?
- Or that electronic document storage saves the average $20/document that it would costs to file it manually (storage costs, paper costs, etc)?
(For more statistics, visit: The Paperless Project)
Knowledge is power. Government Accounts payable departments that have adopted ECM solutions have made their money back often within the same year, and the savings – of time and expenses – only add up from there!
- electronic document management
- automation of system audits
- control over sensitive data
- accessibility to many documents at once by more than one party
- mobile accessibility
Join the dozens of industry leaders who have made the switch! For more information about ECM, download our Ultimate Guide to ECM below!