What is Automation?
At its core, automation is the use of machines or software to execute tasks that traditionally have been performed by humans; this doesn’t mean replacing your knowledge workers, but giving them more time to focus on the important tasks that they need to handle. When it comes to document management, automation helps streamline tasks such as document indexing, data extraction, and the creation of metadata, and also provides simpler workflow management, allowing an organization to grow more efficiently, or, in times like now, to enable that organization to reduce costs when revenue is more uncertain.
Benefits of Automation
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Increased Efficiency:
automated systems can process large amounts of data quickly, more quickly than with human effort, allowing businesses to complete tasks faster and with less manual involvement
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Improved Accuracy:
automated systems are designed to eliminate mistakes caused by human error, reducing the risk of errors that cause delays, reputational damage, or even safety issues; this creates a consistently in quality that can create a strong competitive advantage
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Reduced Costs:
automating certain tasks can significantly reduce overhead costs associated with repetitive manual work; team members will be more productive and happier when their work is more meaningful, and some work that may have been outsourced may no longer need to be sent out, reducing security risks
Challenges of Automation
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Implementation Challenges:
in general, automation has a higher upfront cost, as time and resources would need to be spent in replacing an existing manual task with a workable automated solution
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Automation Errors:
while human error is unpredictable and unavoidable, a poorly-automated system may create its own errors or even cause a breakdown across the entire process
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Lower Tolerance for Outliers:
some processes rely on manual review to catch situations that expect special attention and handling; an automation design that does not include a mechanism for determining when human intervention is required may lower outcomes for a subset of processes
One way to reduce the risks associated with these challenges is to engage an expert on automation. This can be done through consultants, or through a software product. For organizations who already use a document management system, their current solution may provide automation functionality already, or may have an entry point for their customers to add customization.
For other organizations, document management is handled through a shared folder, file server, or online file storage like Google Drive or Dropbox. In those cases, there are options, including finding software that can work with an existing file storage, or migrating document management to a more robust system. But as with automation itself, migration is a solution that should be studied in detail before implemented, as there are significant costs associated with the endeavor.
Conclusion
Automated strategies for document management can provide benefits beyond cost savings alone, such as improved accuracy and enhanced security, and are a great way to win in 2023 and beyond.
FormKiQ vs. Off-the-Shelf Software and Less Flexible SaaS When is FormKiQ a better choice than Off-the-Shelf Software and Less Flexible SaaS?
FormKiQ vs. Building It Yourself How does FormKiQ save time over custom in-house solutions?
Use Cases FormKiQ works for small and large workflows, across all verticals and industries.
FormKiQ For Teams Find out how FormKiQ can work for your team
FormKiQ For Industries Discover the advantages FormKiQ can bring to your industry
Blockchain and Decentralized Storage Leverage web3 technologies including proof of work and distributed systems for document control and data privacy
Content and Digital Asset Management Integrate with your preferred web content management system while leveraging FormKiQ for managing your digital assets
Document Management Module Integrate all of the required functionality of a document management system into an existing software solution
Integration with QMS or LIMS Add missing functionality for your Quality Management or Laboratory Information Management by integrating with FormKiQ
Job Application Form Receive applications, including cover letter and resume attachments, and import into an existing HR Management System
Legal Discovery Tool Find information quickly by combining full-text search with AI-powered document classification
The Paperless Office: Digital Document Processing Collect, process, and store paper and digital documents, allowing for archival, integration, and future recall
Product Leasing System Process client lease applications, including a credit check and approval workflow
Company-Wide Break down the silos in your organization with a centralized control center for documents, ready for integration with any and all systems
Engineering and Product Reduce development time and agony with battle-tested components for your applications
Finance and Accounting Process paper and electronic invoices and receipts, ready for integration with your important systems
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IT and InfoSec Provision a secure document store with the encryption and controls needed for compliance and protection
Legal Manage and safeguard contracts and other essential documents across systems
Marketing Add better discovery and reliability to digital assets and other essential content, while enabling integration with a web content management system
Sales Keep track of sales assets and contracts inside and outside of your CRM and other tools
Accounting, Financial Services, and FinTech Standardize financial documents, metadata, and workflows across systems, teams, auditors, and clients
Education, Training, and EdTech Integrate Learning Management Systems with other essential applications and tools
Healthcare, Life Sciences, and MedTech Combine secure and compliant records management with laboratory information management systems
Law Practices and Legal Services Ensure efficient legal discovery and case management
Logistics and Transportation Provide a robust and customized solution for fleet management or other logistics needs
Manufacturing, Production, and Utilities Control and distribute essential documents and standard operating procedures within and between facilities, partners, and clients
Online Entertainment, Gaming, and Gambling Provide the required compliance documents to partners, customers, and government agencies
Professional and Technical Services Ensure that clients, inspectors, and subcontractors are aligned with consistent document control
Tech Startups Build robust document management functionality into your disruptive product
