Because there is only one good use for paper
The market for enterprise content management (‘ECM’) systems has been forecast to grow from $28 Billion in 2016 to $66 Billion by 20211. When the (already sizeable) market for these systems is set to explode like that, it is clear that that there is global recognition of the need to rid ourselves of paper. Document management systems (‘DMS’) are the key component of ECM (A DMS system excludes things like audio, video, multimedia and raw unstructured data).
A DMS system is essentially a sophisticated digital filing cabinet that allows for documents to be sourced, indexed, defined, integrated, stored and retrieved.
There are three major reasons why leading organisations, both large and small, are adopting DMS solutions; Cost, productivity and compliance. Cost because paper is expensive to print, mail and physically store. Productivity, because copying, filing, signing, mailing and searching for paper documents is highly inefficient compared to digital processing and likewise compliance, because documents have a nasty habit of disappearing, being defaced and/or being copied. Processes are simply much faster and more efficient in the digital realm.
Organisations that continue to utilise paper-based processes not only face the increased costs spelt out above, but face irate clients who demand copies of untraceable documents, or conversely, happy customers who cannot be sued because contracts are missing! Invoices also seem to mysteriously go ‘missing in the post’. Auditors also seem to always find that one missing voucher that results in an exception and as an extension, fraud is much simpler, of course.
PaperTrail® was originally developed many years ago to the specification of a very large central bank . The demand for the solution by the retail/commercial banking fraternity, as well as by large and small institutions and organisations, has grown at a pace that has enabled and driven ongoing modernisation, with new features constantly being added and existing ones improved. The core approach of value-for-money has not changed however. Feature-for-feature it compares with the best in the world, but the capital investment required is a whole lot more competitive. PaperTrail® has the necessary track record to back its claims as the best value on the market.
Download an overview of the potential PaperTrail® Business Solution options here
Download an overview of PaperTrail® in the Cloud here
Download an overview of PaperTrail® Features here
Potential Process Flows: