Archive for June, 2011

Document Management Software is an Investment NOT an Expense

Wednesday, June 29th, 2011
Steve Breault, Vircosoft Founder / CEO

Steve Breault, Vircosoft Founder / CEO

In today’s challenging business world, running a paper based business would mean managing a business with endless amounts of paper, the file cabinets, and the storage space for keeping them. Besides the space and the volume of paper documents, there is the need for someone to file each paper document and for multiple times, someone else would have to retrieve the documents. When dealing with paper files that run into thousands or even millions of paper based information piled up over many years, filing and retrieval processes are bound to be very cumbersome and costly. The costs of this system of managing business information without business document management will mount up so quickly in the areas of wages and salaries of persons employed to do the filing and retrieval of the paper documents and the storage facility meant for keeping massive quantities of these paper files.

Paper filing system is inefficient and costly: The economic costs indices of the application of paper and cabinet filing system in managing a business has its effect in wasted time, absolute delay in customer response rate, inefficiency of the system,  and the costs of rent for the storage facility for this age-long pattern of managing business information. If a thriving business continues with this old business document management system for a long time, its bottom line is bound to be affected and the shareholders wealth will decline compared to if the electronic business document management software is deployed. With the electronic document management software, you will be able to store all the paper files online through the process of scanning and indexing. Once the document is stored online, you can discard the paper file because every document stored electronically is secured by hi-tech firewall security system and it will be kept protected throughout its legal lifespan.  

Investment in business document management software guarantees efficiency and higher profitability: Most often, the initial cost of acquiring the business document management software technology is what may look like a heavy expense but in reality, it is an investment into the future of the business and it would be recouped within the first few years of integrating the electronic solution into the setup of a business. Once a business has integrated the document management software into its mainstream, its efficiency will greatly improve, its customer response rate will improve, and the office will be more spacious since all the office clutters and the file cabinets are completely done away with. All these improvements will translate into more patronage for the business which will lead to more profits and increase in shareholders wealth.

The business document management is therefore an investment and the vital information of the business is also protected from being stolen, from getting lost in transit, from fire disaster, and from such unforeseen natural disasters as the Hurricane Katrina that claimed millions of paper based business documents when it struck some years ago.

Besides, the document management software has added benefits to your business by serving as a reliable off site backup. Likewise, its security features guarantees prevention of any unauthorized persons from gaining access to its contents  and even the authorized persons will be prevented from accessing any part of any document that they shouldn’t access which is what paper based filing process can’t achieve.

Document Management Software is the Lastest Business Acquisition

Tuesday, June 21st, 2011

 
Steve Breault, Vircosoft Founder / CEO

Steve Breault, Vircosoft Founder / CEO

Business document management software is a tool that saves time, money, and guarantees operational efficiency when installed in the setup of a business or an organization.

There is no doubt that running a business or an organization based on paperwork and file cabinets significantly reduces productivity and increases the costs of doing business in a wide range of processes of which labor costs is substantial.

Document management software permits you to capture, archive, store, and access your business information online. Once the deployment of business document management is accomplished in your business setup, you can access your business information from anywhere, securely and when you need it. Other major benefits of the electronic document software include ease of compliance with regulatory requirements where applicable and disaster recovery support which should give you confidence when it comes to critical documents.

Besides the basic functions of capturing, archiving, storing, and the ease of access to your online documents, business document management software does a lot more in a business or an organization some of which are stated as follows:

Document management software will ease your business inter-departmental approvals and improve customer care: With electronic document management, staff members’ ability to get urgent inter-departmental approvals comes with ease in a record time. This is because this electronic document solution creates a more streamed-lined and functional system for sharing business documents across the departments of a company which helps to improve customer care. Here is a scenario that explains this better:  If a client places a call to the Customer Care Department of your company where the document management software has been installed with a request for a refund, the Customer Care Officials will surely access the document online with ease within seconds. If after discussing with this client the Customer Care Officials proceeded to make a refund, the relevant document can be forwarded to the Billing Department within a record time so that the client gets a refund almost instantly.

Business document management solution improves the operations of a company’s accounting department: In an attempt to ensure a high level of success and return on investment, many businesses have chosen to start their electronic document management software deployment in the accounting department. Typically, document management system can create extreme evident efficiencies within an entire traditional business organization that has a pattern of conventional processes involving paperwork like the purchase order in requisition process of product or service procurement applications through the approval stages to the level of obtaining checks for payment by a bank. In this type of system, delays are bound to occur at some points in the approval process due to the non-availability of one or more of the managers or executives involved.

However, once the electronic document solution is installed in this company’s corporate network, the whole process can be completed in a record time with a single entry of information needed by the requestor and distributed to all managers concerned electronically. The concerned parties can be notified automatically about the arrival of a new document in their mailboxes waiting for their review and action after which the requisition is relayed directly to the purchasing unit while the entire procedure is done speedily and efficiently.

Document Management Software for Healthcare Facilities

Tuesday, June 14th, 2011
Steve Breault, Vircosoft Founder / CEO

Steve Breault, Vircosoft Founder / CEO

Document management software is as relevant in health organizations as it is in any other sector of the economy. All hospitals and other medical facilities need to deploy adequate business document management software systems in order to improve their productivity both in the short and in the long terms. The business document management solution also ensures improvement in operating activities and compliance with regulatory standards and procedures.

The boat-load of administrative procedures handled by hospitals and other healthcare facilities occupy a substantial amount of time and therefore add to the operating costs incurred within the healthcare system. The application of document management software system within a healthcare setting works to centralize numerous pieces of information and it helps to integrate them for use at any time by multiple sections or departments.

Effective business document management solution combines the field of information science and healthcare basics into an electronic software system database program that connects all aspects of a patient’s health records, the patient care logs, the financial statement or reimbursement record, and all privacy protection legalities fused into each patient’s records. The database structures and organizational features incorporated into this software also integrate well with meeting the requirements of HIPAA for patient privacy and easy access to records when needed.

Healthcare administrative application of document management software: Where there are multiple pieces of a patient’s information documented in files, on medical forms and on receipt slips, it becomes difficult if not impossible for such pieces of information to be accessed by all departments of a healthcare facility at the same time. Therefore, when it comes to tracking a patient’s medical history, legalities and financials within a healthcare setup, document management software streamlines information access in a way that anyone who accesses a patient’s medical records will have access to the most comprehensive and updated documentation always.

Document management software system improves patients’ healthcare account payables or payment reimbursement procedures: When it comes to payment reimbursement procedure, it is typical for a healthcare facility especially a hospital to have to relate with multiple health insurance providers where different insurance policies and patient’s out of pocket costs and insured services are all different from one health insurance provider to the other. When document management software is deployed, it permits various reimbursement procedures to be carried out electronically by automation programming based on the records documented in each patient’s database. Since it is certain that there will be inflow of much documentation, business document management system incorporates document imaging device which automatically allows immediate transfer of new pieces of paperwork information into the database of each patient.

Clinical healthcare applications of document management software: Effective document management software solution is built around the electronic health records of each individual so that patients vital information like demography, progress notes, problems, medications, vital signs, medical history, results of laboratory tests, and records of immunization are preserved for clinical uses. It follows then that every pertinent detail needed for clinical decisions for each patient is available in one place. The likelihood of overlapping or repeating medication or other services are also eliminated with the application of the document management software since care received from outside health facilities can easily be included in the patient’s existing electronic record and quality control is therefore assured.

 

Document Management Software Users Prevail in Customer Services

Friday, June 10th, 2011
Steve Breault, Vircosoft Founder / CEO

Steve Breault, Vircosoft Founder / CEO

If your business is making its customers spend too much time on hold, it certainly requires the deployment of business document management software which is capable of speeding up the rate of processing your documents and also improves the rate of service delivery to your customers while keeping the costs of rendering service to each customer lower.

In a global business environment that is rapidly changing, customer service is cardinal and though sound intelligence is very valuable, yet it is no longer adequate to provide the vast pool of knowledge and the data required to take prompt business decisions when you really need it especially when dealing with a client on phone or one that is physically present in your office but the deployment of business document management solution will help you achieve all the customer satisfactions in a record time when it comes to the rate of hunting down crucial business information. Here are some benefits companies achieve when the business document management software is integrated into a business set up.

Business document management solution guarantees instant retrieval and processing of documents required to provide answer to existing clients’ questions at the right time: The simple reasons why some companies are able to retain many customers every now and then is that they offer their customers a level of satisfaction in terms of answering their inquiries and questions appropriately with relevant documents at the right time. If one of your customers call in to request for a copy of their contract with your company and it takes a longer time to satisfy the client, that is sure to give a poor image of your company and it is an indication that the business document management software needs to be integrated in your business.

Document management software gives the prospect of attracting more clients: When your company customer service is enhanced through the ability of your staff members to access customer records within seconds and the required information delivered or e-mailed immediately, then your company stands as a reference point in a business world of stiff competition such that many referrals can be expected and hence more clients gained for your business. It is therefore true that when a business provides the best customer service possible through electronic record keeping, it seals good relationships with its existing clients and it is therefore placed to gain new ones.

Electronic document management solution helps your employees stay focused on the core business of your company: Research reports says most business managers spend up to 15 per cent of their time reading documents but spend a whopping 50 per cent of the time looking for it. By implementing the document management software in your business, it will help your company eliminate the time wasted on hunting down documents so that both the management team and the employees can spend more time working on the core aspect of the business of your company.  In fact, more employees can be reallocated to business tasks that provide value and increase the income of your business enterprise.

 

 

 

Document Management Software Provides Audit Trail

Monday, June 6th, 2011
Steve Breault, Vircosoft Founder / CEO

Steve Breault, Vircosoft Founder / CEO

Business document management software is very suitable for businesses and organizations that operate in a regulated industry. This is because organizations and businesses that operate in such a sector often face the daunting challenges of keeping many documents that could even run into volumes so that achieving a positive rating or score during inspections by the supervisory agencies may be a dream to some of such businesses who still manage their documents in the traditional way of using the file cabinets.

Some of these companies and organizations who are yet to tap into the potentials of the electronic business document management that eventually achieve positive score during such inspections must have done so at a great drain on the energy of their employees and the management- which is not really good for the productivity of the employees and their psychological wellbeing. Increase in competition and the need for more regulatory procedures often make regulatory authorities like the US FDA to conduct unexpected inspections on businesses and organizations in their respective sectors. 

In such cases, document management software will enable reliable and effective audit trail since it has the capacity to ensure effective management of business documents and also prepare you very well for any official inspections that may be needed at the shortest possible notice. Here are some tips on the features of the document management software that makes it play a critical role in improving your organization’s audit readiness.

Document management software ensures harmonization between documents and actual change management: One of the most critical issues that often come to light in relation to a poor audit score is the lack of harmonization between the organization’s documents and the actual change management or better still the underlying processes of the organization. If for example there is a case of non-compliance to a documentation process due to the inability to effect the actual change in process because the organization has multiple locations or deals with many suppliers, supervisory authorities are bound to frown at that  which will surely result in the organization getting an unfavourable audit score in an inspection.

Once the document management solution is deployed, it helps to make the organization follow the industry laid down rules and best practices across a broad range of departments and activities. Moreover, it can be customized to meet the specific requirements within the operating sector of the organization.

Electronic document management solution ensures effective and secure document control: With the introduction of the document management system in an organization, the life cycle of each document can be automated while at the same time ensure access to the needed information under the most reliable firewall technology security protection of the documents.

Features that enable audit trail, automation, effective and quick search of documents like document revision control, templates library, electronic signatures, notifications, and others have been built into the software and that allows the whole system to integrate seamlessly with processes and thereby bring about  flawless audits and the possibility of always securing high and favourable audit score.