Why Businesses Need Electronic Document Management

electronic document management software

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Low overhead is essential so smaller businesses can protect their profit margins. But controlling administrative costs is important to large companies too.

Many small businesses have watched corporations implement document sharing, document signing, and online bill payment services for their clients. Services that will save these corporations tons of time and money. These electronic document management solutions may seem beyond a small company’s cost structures and technical know-how to implement but nothing could be further from the truth.

Today, document management software is available, affordable and adds value to your business. The right electronic document management tool will offer cost-effective solutions to increase revenue and payment processing speed and can even clean up your record keeping.

Increased Revenue

Using an electronic document management system for your business comes with many perks. Arguably the most important is its impact on your company’s revenue.

Receive More Payments

Making payments more convenient through digital document delivery and electronic signatures will increase the number of successful payments you receive. Making it easier for consumers reduces the barriers that stand between your business and more money.

Customer Retention

Customers live in a digital world. They enjoy the convenience and speed of digital solutions for signatures and payment. Offering a document delivery, authorization and payment workflow that’s fast and secure will satisfy and impress your consumers. And we all know, satisfied customers stick with you.

Increased Payment Processing Speed

Customers don’t pay the same way they once did. Offering a way to sign, pay, and receive a digital record of a transaction all in one workflow keeps your company current and consumers happy. But best of all, you can serve more customers in the same amount of time with eSignature and digital payment solutions.

Easy access

Offering solutions that are accessed by consumers via mobile, desktop or tablet keeps you connected. If consumers can easily get to the tools they need to sign and pay, your entire revenue cycle will speed up.

Take the payment to them

Don’t make consumers come to you. Sending a payment request through text or email is the easiest way to speed up your workflow. Instead of waiting for them to access your online payment system or call into your office, you can send a request to consumers and take payments immediately.

Reduced Overhead

Digital solutions offer consumers speed and convenience. But they provide perks internally too. Managing records digitally can shave overhead costs in many areas around the office.

Streamlined Record Keeping

Printing, mailing and sending documents can cause issues in your record keeping. For instance, human error can result in mis-filing of paperwork. What’s more, relying on consumers to mail back signed documents is always a gamble. The hassle of snail mail may be enough of a barrier to stop some sales from going through. Paperless document delivery and eSignature technology comes with more benefits too:

  • Reduces man hours: Easy training on the software, faster authorizations and payment collection and a more tidy, efficient filing system all add up to less time your staff spends on menial tasks.
  • Saves money on paper: This simple benefit might not seem like much, but the cost of paper, postage, toner and printer maintenance can add up (especially in a smaller operation with smaller profit margins).  
  • Saves on hiring tech-savvy staff: If you’re worried that your staff isn’t familiar enough with technology, finding a simple document delivery and digital payment system is a simple solution.

PDCflow offers a simple solution to send a payment and signature request to a consumer – FLOW + Payments