Written by Mario Zules on 25 October 2019
One of the major bottlenecks when it comes to productivity in most organizations is shuffling of papers around, or looking for paperwork stored in a manual filing system. Electronic document management systems or document indexing software can go a long way in boosting efficiency and providing a better working environment. In this post, we will explore how to document indexing can improve your business efficiency.
But first things first!
Documenting indexing is the processing of tagging documents or giving them associations for easier searching. Standard indexing terms include invoice number, purchase order number, vendor name, and item names. In other words, indexing creates a path to documents based on how a company’s business processes run and how staff work.
Indexing is made feasible using metadata properties. The three main types of indexes you are likely to come across include field-based, full-text, and a hybrid of these two. Regardless of the nature of the index used, the amount of time required to find a particular document is reduced significantly.
One of the most significant time drains for any company is records management. It can be tricky to find a file, and sometimes there may be several versions of a single file. That means more time lost trying to figure out which is the latest version.
Document indexing highly simplifies this process making business efficient. It also minimizes or eliminates these problems that plague a business when searching for file versions.
Modern businesses process massive amounts of data, and this can be a big hurdle. First, manual data entry of big data is not only monotonous but also requires much time, resources, and effort. Secondly, manual processes are prone to human errors that can result in inconsistencies that can render data useless.
Document management software (DMS) offers top-notch document scanning and indexing tools that can help manage bulk data inputs. What’s more, these tools enable you to capture accurate and high-quality information that’s indispensable in crucial decision making.
It’s no secret that most companies rely on legacy software systems such as Enterprise Management Systems (ERP) to manage business information as well as generate business reports.
Digital document scanning and indexing tools offer the inputs in a suitable format accepted by the ERP in bulk. Accurate inputs and outputs from the ERP give you leverage when you are making critical business decisions (based on facts and figures).
Another benefit of digital document indexing is process automation. Indexing helps with automating tasks such as purchases, order confirmations, stock orders and reorders, payroll data processing, vendor payments, and payment consolidation.
These tasks can be fed into the business system quickly based on the available digital indexing information. Workflow automation improves efficiency, speeds up business activities, and boosts business turnover.
The primary objective of document indexing is the ability to extract the information needed as soon as possible. Physical files are scanned using OCR and other character scanning technologies.
These digital documents are easier to search and retrieve whenever they are needed. You need to click a few buttons. The time and effort put into searching for physical documents are significantly reduced, increasing business efficiency.
Also, when the efficiency of document retrieval is enhanced, the running costs associated with document retrieval are decreased. This is because you need fewer human resources to do document retrieval work.
When a company recruits new team members, it’s necessary to familiarize them with the filing systems as well as other aspects of the business.
With document indexing software, a new employee can quickly learn how to search for files in the organization. Unfortunately, for an organization using a manual filing system, you will require to go through an entire filing system so that the new employee can understand how to find files.
With document indexing software, tags can be used to increase security levels in an organization’s document system. This way, an organization can restrict access to records with particular tags, hence protect an organization’s secrets.
Mundane, manual, and monotonous administrative tasks eat into the productivity of a business. An electronic or digital index can dramatically improve productivity.
For example, if you want to file audit reports for different types of documents such as contracts, applications, and evaluation forms, this can be done in the blink of an eye. It is also easy to produce reports and lists, e.g., contracted employees, prospective employees doing interviews, and pending invoices from a supplier.
Manual data entry and document retrieval are not only cumbersome but also expensive and prone to error. Digitizing documents and indexing greatly reduces human errors, makes work more relaxed, and improves business efficiency at large.
If your business is looking to implement a secure document indexing system, or have any questions, contact our team. It’s time to go Paperless
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