With both advancing technology and the disruption in normal business practices brought about by the COVID-19 pandemic, many companies have begun taking a serious look at updating their business systems. In fact, according to a recent McKinsey Global Survey of 900 top business executives, companies accelerated the digitization of their customer and supply-chain interactions and of their internal operations by three to four years during the span of the pandemic. And the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years.
However, if your company has been thinking of upgrading the business systems you utilize, it can be difficult to know where to start. In this article we’ll explain three of the most important factors of this decision to help you begin the process, including cost-effectiveness, automation, and the growing popularity of cloud applications.
1. Weigh Your Cost and Time Options
When choosing new business systems, it may seem obvious that you need to analyze the different cost options available to you. However, it is also necessary to weigh the time benefits during your decision process. One vendor may be able to offer you a cheaper software option, but the processing time of their operation procedures might be double that of the more expensive alternative. This means, at the end of the day, the cheaper system isn’t actually saving your company any money because you’re losing out in business overhead costs (number of necessary employees, hours of operation, etc.).
Many companies will look at the price tag of a system as the most important part of their decision process. However, you have to look at the overall picture of what that expense is for and how it will benefit you and save you costs over time. Upgrading your document control systems is an investment into your own business success. Maintaining an outdated system or opting for a cheap upgrade that lacks in efficiency can end up being much more costly than a better-quality software choice. When making the decision to upgrade it is necessary to think long-term.
2. Focus on Automation
Companies often waste precious business time completing tasks that are repetitive and simple. This is why automation is becoming so popular in so many different industries. Automating your business processes allows your employees to complete manual and tedious tasks at the touch of a button, saving them time and your company money in the process.
The specific benefits of automation are seemingly endless. Here are a few examples:
These automated systems are flexible, enhance collaboration, and are accessible from everywhere at any time.
3. Migrate to Cloud Software
Another major trend in business system upgrades has been the shift from on-premises systems into cloud-based technology. The cloud refers to servers that are accessed over the Internet, and the software and databases that run on those servers. The primary difference between an on-premises and cloud-based solution is the location; your company hosts and manages everything in an on-premises environment, whereas, in a cloud environment, all the hosting and maintenance requirements are taken care of by a third-party provider.
The cloud offers many benefits that on-premises systems can’t, including increased accessibility and collaboration tools. During this uncertain COVID-19 era, where many people are working remotely, connecting from different parts of the globe is necessary to keep your business processes running smoothly and efficiently. With your business processes hosted in the cloud, it is easy to grant controlled access to employees and stakeholders from anywhere with an internet connection. Instead of making your users log in through a sometimes unreliable and slow virtual private network (VPN) to collaborate, a cloud-based system is accessible and secure.
Upgrading business systems can be a daunting task for any company. However, with the growing role of technology in our everyday lives and the necessary shift in how companies operate in a post-pandemic world, making the move to newer, more advanced software is becoming essential. Hosting your business documentation in an online document control system (DMS) will increase your company’s efficiency, save you money, and give you the cloud capability your employees need to seamlessly collaborate from anywhere.
If you are looking for an updated DMS, the ENSUR Cloud document management system is a complete solution that provides you with a fully managed application environment where hosting, application maintenance, and technical support is handled quickly and efficiently by our outstanding team of technical support professionals. Whether you require an audit-ready cloud solution or not, ENSUR Cloud is a secure, scalable and cost-effective option for your cloud document management needs.
Contact us today to set up a consultation to learn more about upgrading to the ENSUR document management system.