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Document management can be a modern CIOs best friend
With the UK economy finally showing encouraging signs with respectable growth being reported in all major sectors, the emphasis for CIOs is changing. No longer is their role focused on simply ‘keeping the lights on’, the need is now for strategic led thinking and creative planning to ensure continued growth, even in the event of the economy entering a recession again.
As information technology and systems have been attributed to assisting modern organisations to drive efficiencies, CIOs are now viewed by many as the key contributor in formulating strategic goals to facilitate growth. No longer tasked with only managing the implementation of new systems and technologies, modern CIOs’ reputations hinge on their ability to deliver a tangible return on investment for their businesses, typically in 12 months or less. IT investments, therefore, need to be closely aligned to a business’s strategy, each carefully considered and integrated in to a deliberate plan. The job of the CIO is not just responding to instant IT fixes but to increase short-term and long-term profitability.
Solutions that enable businesses to improve financial control and strengthen their competitive advantage are therefore key. Solutions that automate business processes are arguably more relevant to firms seeking to gain a measurable and rapid ROI, by delivering efficiency savings and more productive ways of working for staff.
Business automation software is proven to reduce the time and costs associated with completing manual, paper-based processes. Electronic document management solutions, for example, automate the entire procure to pay process, allowing invoices – digital or hard copy – to be electronically scanned, stored and processed quickly and easily, making each document available to finance teams as well as authorised staff outside of the finance department at the push of a button. By significantly eliminating paper, postage and printing costs, choosing a document management solution that seamlessly interfaces with your account system typically provides an ROI in six months or less.
Document management also ensures good business practice and compliance, key to laying the foundations for a growing enterprise – it also ensures streamlined financial processes so that cash is collected in a timely fashion and control is maintained over spend. Business critical documents can be located quickly without manually-intensive administration processes slowing down the process.
While the downturn has seen most low hanging fruit from the tree of efficiency savings picked clean, for the switched-on CIO, there’s yet more to be had.Document management can be a modern CIOs best friend by Janette Martin