The post-pandemic costs of records management

The hidden costs of not organising your digital records management are many. The International Data Corporation reports that employees spend approximately 20% of the day looking for information in hard copy documents but find what they need only 50% of that time. Employees performing ineffective searches and wasting time looking for information can cost up to 10% in salary expenses.

In 2021, key trends in records management are driven by the emergence of post-COVID work from home and hybrid workplaces that require paperless workflows to be compliant and secure.

Add to that the effect that return-to-work staff density limits have on restricting how workspaces are utilised. Suddenly, onsite file rooms and rows of filing cabinets become a liability for floorspace that could be better reassigned as safe areas for staff desks. Shipping hardcopy files to offsite storage is a knee-jerk reaction with high costs and long-term productivity impacts.

The 2020 Gartner Report on Content Services Platforms states that organisations are investing heavily in software products that are easy to adopt and rapid to deploy, leading to vendors taking a more collaboration-focused outlook.

In addition, COVID-19 has accelerated the trend of services to the cloud with Microsoft 365 as a dominant interface, and third-party solutions must offer seamless integration.

The newly coined term of Intelligence Services powered by machine learning has prompted three core areas of Content Intelligence, Productivity Intelligence and Security Intelligence. A robust records management system needs to consider all three areas.

Digital Filing Software provides businesses with the ability to meet budgets, save space, easily achieve compliance, and makes information secure and convenient to access.

Info-Organiser Digital Filing Software is used by sectors such as healthcare, aged care, financial services, manufacturing and more for digitising searchable records like client files, email workflows, payroll records, and compliance archives.

Digital records offer many benefits including, fast return on investment, secure records compliance and streamlined workflows.

When assessing the cost of a records management system, there are many areas to consider. Best practise will include a digital archiving policy, digital filing workflows, and forms automation.

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