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Do You Know Where Your Documents Are?
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The accounts payable process relies on ready access to a variety of transaction documents. How quickly a processer can get to these documents can mean the difference between a late payment or a captured discount.
This issue features information to help show how switching from manual document management to electronic can improve efficiency in your department.
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| Patrick Harbin – Editor
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Document Management Becomes Knowledge Management |
The document imaging boom of the 1990s gave birth to a totally new way for organizations to manage their transaction documents. Originally called document management, the technology evolved to focus on guaranteeing the right materials were in the right hands - giving birth to the term knowledge management.
See Document Management Assumes a New Identity – Knowledge Management on TAPC.
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Challenges of Paper |
Organizations still managing most of their documents on paper understand the inefficiencies of the process. However, they may not realize the full extent. According to document management firm Advanced Technology Systems, Inc., the following is true about managing documents manually:
- Office workers spend 50 percent of their time looking for information, but only 5 to 15 percent of the time reading or using it.
- 7.5 percent of all documents get lost and 3 percent of the rest are misfiled.
- The average document is reprinted 19 times, but for every 10 printed or copied pages, only one is ever consulted.
For more practical benefits of ditching your paper-based documents, be sure to check out TAPC's upcoming complimentary audio conference, AP Makes the Cost-Effective Case for Choosing an Enterprise Imaging & Workflow Solution, featuring David Hay, Consultant, Former Director, Shared Services, Hewlett-Packard Company, and Melissa Lehky with OnBase. Earns 1 CEU.
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Just for Fun! |
All business travelers understand that there are certain rules you must obey when staying in a hotel, such as not throwing pasta against the wall or demanding that all the faucets be replaced with solid gold.
Some celebrities, however, don't understand these rules. See Worst Celebrity Hotel Guests.
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