Cloud Document Management: During & After COVID-19
The coronavirus is transforming businesses operations and what companies need to function now and in the future. No one knows what the “new normal” will be, but companies are seeing the need to upgrade their tech infrastructure, subscribe to videoconferencing, upgrade cloud storage, and implement cloud document management software.
More companies are leveraging digital transformation
At record speeds, companies are embracing digital transformation, or the process of using digital technology to improve day-to-day operations, business processes, culture, and customer service to meet the needs of the market. As the C-Suite seeks to cut costs and HR and accounting departments need to access transactional documents more easily. And as more employees want to work at least part-time from home, there’s a growing demand for companies to adopt more work-from-home practices. An International Workplace Group study found 80% of job seekers would prefer to flexibly work from home over a job that doesn’t offer this option.
On top of videoconferencing and cloud-based storage, businesses need processes to convert their documents–accounts receivable and payable files, HR files, insurance files, sales orders, contracts, and more–into easily accessible digital files.
New essential operational infrastructure is required
Both moving to a digital mailroom and upgrading to cloud document management software are now “must-haves” for businesses. Cloud document management services enable you and your team to securely access critical documents from anywhere, whether you are working in the office or from home. This way as your team works remotely, they can securely access, share, and process business critical documents.
In addition, you no longer have to compromise security or scalability to make your documents available remotely. Cloud document management software allows for level access, user rights, and administrative settings to be maintained, ensuring an enterprise level of security while making them quickly accessible from anywhere.
Coming out of the current crisis, your company may eventually need to grow its staff or adapt to a large percentage of your staff working from home. With cloud document management software, you have the flexibility to provide your staff immediate and secure access to your critical documents from anywhere while making it easy for you to adapt to the “new normal.”
Other benefits of cloud document management
Not only is cloud-based document management crucial post COVID-19, but it can also help your company cut costs, while improving customer service. As an example, Ace Endico, a leading family-owned and operated food distributor, was having trouble managing paper proof-of-delivery invoices. Despite hiring two part-time clerks and paying high storage payments, it was taking weeks to resolve payment discrepancies.
With MetaSource’s help, they upgraded to a secure cloud document management system, and digitally converted and indexed all their proof-of-delivery invoices, making everything virtually accessible from anywhere. MetaSource now scans and indexes thousands of their invoices weekly. It used to take up to 30 minutes to find often misfiled or lost proof-of-delivery documents. Now these documents are available in under 3 seconds from any desktop or mobile device.
These faster response times improved customer service and accounts receivable payments, and by dramatically decreasing storage costs, they cut back on expensive warehouse space for hundreds of boxes of files. Ace Endico also has more control of document security with access-level privileges, extensive audit trails, security logs, and utilization reports than when they used a paper-based system. As an essential service provider during the pandemic, they have been able to continue to operate efficiently while adding food delivery services directly to American families in the Northeast United States.
Making the transition to remote document access
Cloud document management software is proving to be a critical part of how companies are adjusting to the current coronavirus crisis. Looking forward, cloud software allows businesses to be more flexible and responsive to remote workers as the economy restarts. Demand is growing for cloud document management software and document scanning services as businesses realize they need these tools to survive.