Rethinking digital transformation in document management systems

This article first appeared in the Autumn 2017 issue of The Record.

Digital transformation is an umbrella term that gives companies the creative freedom to rethink their business processes to streamline operations, maximise efficiency, save money and increase visibility. It varies company by company – and sometimes department by department – depending on their unique business goals.

Digital transformation is usually a long-term plan that is rolled out in phases. It often involves businesses switching from manual to automated systems, and for many companies, the implementation of a document management solution.

A document management system, such as MetaViewer from Metafile, allows companies to redesign the way they handle documents. Whether they’re working with invoices, expense reports, purchase orders or employee-onboarding forms, companies that switch from paper-based to automated processes do more than just improve efficiency – they also gain access to data that their system has extracted from the documents. This means that they’re not just rethinking their procedures, but also the way they use information.

Document management solutions eliminate the guess work often associated with the accounts payable process. Just as artificial intelligence (AI) solutions can perform tasks that normally require human intelligence, document management systems take over procedures that were previously manual. The systems pull out important information and make business decisions based on this data and the company’s unique business rules, allowing executives to monitor trends and identify bottlenecks to proactively make real-time decisions.

According to the Harvard Business Journal, most companies were focused on processes like data mining, virtual collaboration and search technology 10 years ago. Today, executives recognise the importance of a digital strategy and how it impacts on business goals, so they have their eyes on AI, mobile optimisation, machine learning and the internet of things. Technology is advancing at warp speed and it’s often difficult for companies to keep up. However, document management systems are customisable so they can learn new business rules and processes, transforming in tandem with technology as it evolves.

Digital transformation is essential to bring companies into the 21st century and help them meet business goals while staying ahead of the game. Implementing a document management system is the ideal way for companies to ensure their data is accessible and works with them to drive results so they can make more intelligent real-time business decisions. By transforming their digital strategy, companies can transform their whole business.