Companies spend 30 to 50% of their time searching for documents. They attribute the loss of time to gaps in front and back-office operations. It is imperative that employees diligently manage documents throughout their life cycle, but what does that even mean?

Modern workplaces have seen a transformation in the way they handle their documents. From creation to destruction, information technologies are at the forefront of document management and many companies are adopting new ways to increase the efficiency of their document workflow.

Document Life Cycle Management Process

The owners, professionals, and officers of the business must know the company’s needs and its document workflow. Only then is it possible to design a simple integrated solution.

The Stages of the Document Management Cycle…

  1. Creation – When a document is created, its life cycle begins.
  2. Data Capturing – Conversion and capture of all non-digitized documents
  3. Classification – After a document has been created, it needs to be properly classified.
  4. Proper Storage – The well-classified digital files will get stored. Storage depends on business needs and security. It can be in-house on the web or in cloud storage
  5. Utilization – Retrieving data is one of the essential steps in a document life cycle. Conduct accurate and rapid searches using words, phrases, and metadata
  6. Backup – Secure the documents through regular backup operations. Storing copies may seem redundant, but it is crucial for ensuring business continuity
  7. Management – This step is the cornerstone of a successful document life-cycle management process. Only the latest version gets stored for ready access and further modifications.
  8. Share and Distribute – Multiple employees can work on the same set of documents simultaneously. Communication technologies facilitate team collaboration.
  9. Destruction or Archival – It is important to destroy irrelevant data using manual and automated processes.
  10. Preservation – Valuable, in-demand documents get preserved for posterity. The document life-cycle management process ends with preservation.

The Benefits of Document Life Cycle Management

Now that you understand a little more about the life cycle of your documents, let’s look at some of the benefits that come with efficient document management.

Benefits include:

  • Reduced Costs – Sophisticated software helps to route the tasks to the most economical devices. The system identifies the right kind of equipment to deliver low-cost services.
  • Integrated Technology – For high-volume data, integrated technologies and enterprise solutions can automate the whole process as well as make them more secure.
  • Full Document Control – Sophisticated software tools can implement access control mechanisms and simple tracking methods that assure secure and controlled access. Tasks like printing, scanning, copying, and faxing can be monitored.
  • Increased Efficiency and Productivity – Audit trails will ensure fiscal responsibility and transparency and fulfill your regulatory needs and compliance. Automated digital processes will increase operational speed without loss in quality or accuracy, allowing the staff to focus on productivity.

Waltz Has Document Life Cycle Management Solutions

From creation to destruction, the professionals at Waltz Business Solutions specialize in delivering results incorporating complete document life cycle management. Contact our Solutions Specialists today to see how Waltz can improve your document management!
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About Waltz Business Solutions

“If your document haltz… Call Waltz!”​ Waltz Business Solutions offers copying, printing, faxing and document storage solutions from the best in the industry – Kyocera, Hewlett Packard, and Samsung.
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