Business units follow a particular flow to achieve both, growth and profits. Specific responsibilities get allotted to each department in a company. For instance, if it’s an IT Department, Development team would handle only software development. QA team would only be involved in software testing.
With growing business, need for a centralized documentation plan is required. As the responsibilities grow, each department shares the document with secured and authorized access to users. A large amount of distributed documentation can lead to data mismatch, data loss, irregular up-gradation and maintenance of the system.
Here are some valid reasons why document centralization is essential.
Consider if your business has an item produced at a particular rate. It’s important the details of the product must get documented in a shared document. Every department such as Sales, Marketing, Inventory, and Production must have access to this document since it is crucial for every department to track the availability of an item in inventory to carry out their activities accordingly.
A unified document storage system is essential for a business to function efficiently. Categorizing and storing the documents can help you run the business flawlessly.
Transparent & Accurate Finances
For a finance department to function, it is of utmost importance to have accurate and point-to-point evidence as receipts of transaction activities. If there is any department that doesn’t show a few small transactions, it may lead to a mismatch in calculations. Calculations as per receipts are important to take place annual financial audit.
Best way to keep financial activities accounted is sharing scanned receipts with the finance department. Cloud-based document storage is quite helpful when you need to scan documents irrespective of geographical location.
When the business is large with 500+ employees working in the various department, distributed document storage doesn’t work. Multiple departments get the authority to upload their copy of documents. In turn, leads to duplicate data as many reports are found similar and end up occupying large storage spaces.
Document version update facility provided by Cloud-based document storage systems allow users to update information in the same document with maintaining logs of which user made what updates. Also, previous versions are available to view and update, so it eliminates this problem of data duplicity.
Document Visibility & Availability
Cloud-based document storage system like Docupile offers you access to document as and when needed. Irrespective of location or devices, Docupile provides accessibility of all documents. Central documentation is an advantage in large business enterprises for easy availability of documents to authorized users.
By document centralization, you prepare the entire company, top to bottom and every department, for every situation involving sharing & working with documents and data in a synchronized manner. More the lenient flow of employee work, the more productivity rate of the employee.
It doesn’t matter if you’re a new start-up or multi-million dollar business firm, centralized document storage and management system is the key to efficient and tenacious business management. Docupile is a cloud-based document storage system that offers your employees and clients to access all the information and paperwork and can have access to from anywhere with internet access. No more cross-department confusion, storage space problems, physical paperwork, or conflicting reports. For more information, request a free demo!