Heaps of paperwork can prevent business processes from operating efficiently. Invoices are paid late, errors are caused by manual data entry, documents are lost and who knows what happened to that purchase order.
Paper is wreaking havoc around the office, and here are the facts to prove it:
According to a Prism International study, an average of 2-7% of documents are misfiled, resulting in handling costs of $120 per document. Executives and their staff spend 150 hours per year looking for these misplaced documents. These statistics just prove the point that paper is nothing but a detriment in the office. But there’s a silver lining to these scary stats. Research has shown productivity gains of as much as 82 percent in companies that automate their ERP solution such as Microsoft Dynamics with a document management and workflow solution.
Here are some of the benefits of automating your ERP solution:
It’s a paperless option. Many companies reap the benefits of eliminating paper from their accounts payable department, as well as other departments in the office, when they make steps to go paperless.
Productivity is increased. We all want to find ways to have a more productive workday, and many companies have become more productive when some of their tedious processes are automated.
Accuracy is improved. No one likes to make mistakes. Data entry can lead to mistakes but, by automating your ERP solution, you can start to eliminate those mistakes caused by manual methods, making your data and documents more accurate.
Automating can save you money. By investing in a paperless document management solution to automate your ERP, you’ll actually save your company money because you will accumulate fewer late payment fees on invoices and won’t need to fix as many data entry errors on payment documents.
Payments are made in a more timely manner. No one likes to get payments late. When you automate your ERP, you no longer need all those sticky notes to tell you when your invoices are due and which ones need to be approved-- the solution will do the work for you.
You get real time visibility of processes. Rather than searching through one of a hundred filing cabinets for that one specific document or wondering who has that specific invoice that needs to be approved by the end of the week, a document management solution that automates your ERP helps you keep an eye on what’s going on around your company.
You can take steps to “go green.” We are all looking for ways to eliminate our environmental footprints. By automating your ERP, you’ll start to eliminate paper from your office, which means less waste and less of a negative impact on the environment.
Stay tuned for our next blog post where we’ll take a closer look at these benefits and see how real companies have enjoyed them from automating their ERP solutions.