IRIS launches The FDs Code to Document Management

One of the easiest and most effective ways of driving efficiency and reducing costs revealed in new guide for FDs

A new guide designed to help financial directors meet the challenges of running a successful and efficient business in 2009 focuses on the role of electronic document management: said to be one of the easiest and most effective ways of driving efficiency and reducing costs.
 
In the finance department where the paper mountain is often at its worst, electronic document management can release a business from unreliable paper-based processes allowing instant document access resulting in effective cost control.  The statistics are frightening: research points to 80% of employees wasting an average of half an hour per day retrieving information and one survey suggests that the average document is copied 19 times.

The guide explains what electronic document management does, its role in aiding regulatory compliance, it lists 10 ways to waste time on non-automated document management, explains in a jargon free way how systems work and cites the benefits of such technology in the finance department.

A full questionnaire split into the categories of Workflow, Documents, Personnel, Distribution and Storage is included that allows the ROI to be calculated for the FD’s own business. The resulting ROI may be surprising with some specific research conducted by Forrester pointing to a ROI of 197% and only a thirteen month window to regain the investment. 

Integrating the financial and document management software within any organisation delivers huge and immediate efficiency gains because it makes the source documents that support financial analysis and decision making, like purchase orders and emails, instantly and universally accessible to end users.

The guide is designed to answer FDs’ queries and to demonstrate why electronic document management tools are recognised for delivering high levels of ROI for a relatively low cost of ownership.