Recently, The Pre-check began to inquire as to whether or not changing from a paper-based system to an electronic document management system would be beneficial for the company, and if so, would the benefits outweigh the costs? There were several options that required further investigation/consideration. Of course, a major factor was whether or not such a system would fit into our budget. When looking at such software, not only do you need to consider the price of the software, but you will need to watch for additional costs such as maintenance fees and additional licensing. When considering the overall cost, you will also want to consider whether or not to purchase or lease. Performing a price analysis over a 5 or 10 year period will help you see whether or not there is a significant savings in one option over the other.
After considering cost, you will need to see what the benefits are. Will using such a product substantially decrease the company’s overall labor costs while at the same time increase the company’s efficiency? As we looked further into these questions, we concluded the answer to both of these questions was yes.
In the next segment, we will discuss what benefits will be derived from implementing electronic documents and what to consider when determining which software and provider to use.