Developing Document Intelligence with Document Management Software
Technology continues to quickly change. With it document management software continues to make improvements and innovations to ease workflows, decrease delays, and reduce confusion by making your documents intelligent. By implementing a document management software with features like OCR, Reporting, Electronic Signature, and Version Control your documents and information begin to work for you.
How can you achieve intelligent documents?
- With OCR
Each document or contract that you create becomes an active entity that will contribute to the success of your business. Though each may vary, certain terms and conditions will more than likely remain the same.
Don’t waste time recreating something that already exists. A document management software with Optical Character Recognition (OCR) uses a key word search to find clauses, terms, or specific language that can be quickly reproduced, amended, or changed as needed.
By simply typing your key word(s) into the search cue any document with the specific clause or language is located and can be easily converted to fit your current needs.
Locating the necessary document(s) or struggling to remember the exact wording of a clause is no longer an issue. OCR outfits your documents with the intelligence to do that for you.
- With Reporting, Routing, & Notifications
Time limits, expiration dates, and built in extensions feed the document lifecycle. Unfortunately these can wreak havoc on your business process because they are easily overlooked and forgotten. Document management software allows you to streamline your documents to easily keep track of deadlines with features like notifications and reporting.
Notifications allow documents to alert you of upcoming expirations, signature requirements, or pending extensions. These reminders allow documents to maintain attention and to safeguard against unexpected costs and being filed away and forgotten.
Routing allows documents to be quickly approved in the correct order. A link is provided to the specified documents where any necessary items are addressed. Document management software allows you to set up safeguards within routing to keep documents from prematurely progressing. With this setting a document cannot progress to the next level until a routing notification has been addressed by the appropriate authority.
This significantly decreases the time normally spent searching or tracking down a document because everything is in one place. No steps are skipped and documents intelligently notify you of any necessary maintenance.
Coupling notifications and routing with reporting ensures important documents remain at the forefront of your task list. Why waste time searching through piles of paper and overloaded file cabinets?
Reports can be created and saved with selected criteria to easily find, edit, and share documents. They locate the necessary documents to be viewed, amended, and quickly sent for approval. You no longer risk over-sites that lead to unanticipated costs because reports, routing, and notifications assure that documents receive the necessary attention.
- With Electronic Signature
Don’t waste time, money, manpower, and paper to get a signature. A document management software with electronic signature allows documents to travel for you.
You no longer risk losing documents in transit or while waiting for approval because clients receive documents anywhere in minutes. Signing electronically requires a link with a password allowing documents to be signed securely and legally to be returned in minutes.
Electronic signature allows your documents to be maintained when physically being there isn’t an option.
- With Version Control and Redlining
Many times updates and changes make keeping up with the latest version of a document difficult. By implementing a document management software that features version control and red lining documents are able to display the latest changes and version.
The most recent version of a document is made obvious with the time stamps created by version control. Any changes that have been made with that version are made obvious by redlining. This makes rereading or looking up the last document unnecessary because everything stays in plain view. As a result documents are able to be amended and approved in a timely manner.
The risk of forgetting or misplacing a document increases day to day. Increasing your document intelligence will allow you to take control of priorities, better manage workflows, and decrease daily risks. Supporting your business with a document management software’s features continually adds value for improving your business process by letting your documents do the work.