Optimized document workflows are the unsung heroes of productive, competitive businesses. Kai Villa, Director of Strategic Alliances at Foxit, a TechMD partner, recently shared how small and medium-sized businesses (SMBs) can save significant time and money through document workflow transformation. This guide outlines best practices and expert tips for SMBs looking to level-up their document management processes.
Table of Contents
- Document workflows, defined
- Current state of document workflows in organizations
- Trends in document workflow transformation
- Leveraging AI for document workflows
- Types of document workflow tools
- How to choose the right document workflow tool for your SMB
- Pro-tip to transition effectively to automated and/or AI-driven workflows
- Document workflow security and compliance
- 7 ways Managed Service Providers can aid in document workflow optimization
Document Workflows, defined
Document workflows refer to the process of creating, reviewing, approving, and managing documents within an organization. Effective document workflows streamline business processes, enhance collaboration, boost productivity, and ensure compliance with organizational policies and regulations.
Current state of Document Workflows in Organizations
Surprisingly (and painfully), many organizations still rely heavily on manual processes, with siloed employees passing paper documents from desk to desk. This approach contributes to inefficiencies, errors, and slower business operations. Recognizing these challenges and the need to shift to digital collaboration is the first step towards optimizing document workflows.
Trends in Document Workflow Transformation
- Increased use of collaboration tools such as Microsoft Teams, Slack, and PDF editors, which enable multiple people to work on and annotate documents simultaneously.
- Greater automation of document routing and the integration of AI to enhance manual tasks.
Leveraging AI for Document Workflows
While AI holds the promise of revolutionizing business, it’s important to remember that AI is not a one-size-fits-all solution but rather a powerful tool to augment various aspects of document management.
10 ways AI can aid document workflow optimization
- Document translation: Automatically translate documents into multiple languages.
- Document summarization: Generate concise summaries of lengthy documents.
- Redaction: Identify and redact sensitive information.
- Automated routing: Route documents to the appropriate personnel for review or approval based on predefined criteria.
- Optical character recognition (OCR): Convert scanned documents and images into editable and searchable text.
- Document classification: Categorize and tag documents.
- Data extraction: Extract relevant data from documents, reducing manual data entry and errors.
- Workflow automation: Automate repetitive tasks within document workflows, such as sending reminders or notifications.
- Content analysis: Analyze document content to identify trends, insights, and compliance issues.
- Version control: Manage different versions of documents, ensuring that the latest version is always accessible.
Real-life Success Story
Redacting personal information from documents is a tedious, time-consuming process. Use of AI to identify and present the information to be redacted minimizes errors and speeds up the process. For example, a three attorney California law firm with a growing caseload faced increased overhead, particularly in document redaction. By leveraging AI-based redaction technology, they reduced the overhead by 80%, saving hundreds of hours and significantly enhancing their efficiency.
Types of Document Workflow Tools
There are several key categories of document workflow tools, often with overlapping functionalities among them.
- Document Management Systems (DMS). Stores, manages, and tracks electronic documents and images of paper documents. Provides version control, access control, and search functionalities. Examples: SharePoint, M-Files, DocuWare.
- Content collaboration platforms. Enables multiple users to collaborate on documents in real-time. Includes features for commenting, editing, and sharing documents. Examples: Google Workspace, Microsoft Teams, Slack.
- E-signature solutions. Facilitates the electronic signing of documents. Ensures compliance with legal standards for digital signatures. Examples: DocuSign, Adobe Sign, HelloSign.
- Workflow automation tools. Automates document-centric workflows and repetitive tasks. Includes features for creating workflow rules, routing documents, and triggering actions. Examples: Nintex, Kissflow, Zoho Creator.
- OCR software. Converts scanned documents and images into editable and searchable text. Improves accessibility and usability of document content. Examples: ABBYY FineReader, Adobe Acrobat, Tesseract.
- PDF editors. Allow users to create, edit, and manage PDF documents. Often includes features for annotating, signing, and securing PDFs. Examples: Adobe Acrobat, Foxit PDF Editor, Nitro Pro.
Need help comparing PDF editors? Watch Best PDF Editors: Our Top 3 Choices
How to Choose the Right Document Workflow Tool for your SMB
While it may be tempting to invest in an all-encompassing solution with all the bells and whistles, it is more cost-effective to address specific pain points when selecting document workflow tools. For instance, if redaction is a frequent task, choosing an AI-based redaction tool is a more prudent approach, ensuring businesses avoid overspending on unnecessary features.
Large enterprises can afford to spend $500,000 on a fancy solution, but in the SMB space, you don't have that kind of money, so you need to look for point solutions that are affordable.
Pro-tip to Transition Effectively to Automated and/or AI-driven Workflows
Embracing AI is crucial for maintaining competitiveness. A recent study found that 64 percent of organizations expect AI to significantly improve their productivity, with most agreeing that if they did not embrace AI, they would fall behind their competitors.
However, transitioning to a new workflow of any kind can be challenging. Common mistakes include modernization without involving staff in the process and implementing sweeping changes without first validating their effectiveness. Both approaches can lead to resistance and poor adoption.
SMBs should start with AI pilots in areas where they experience pain points. This allows them to test AI’s effectiveness without a massive overhaul and helps them remain competitive. Running a pilot program with power users, followed by a wider roll-out with their support, builds advocates into the process and demonstrates success to potential detractors.
Document Workflow Security and Compliance Considerations
Document workflow modernization enhances the flow of information between parties but can also increase the risk of security and compliance issues.
- Security. Out-of-the-box solutions often include built-in integrations with various content management systems. This can pose a security risk if employees store documents in insecure locations, such as personal Dropbox or OneDrive folders. It is essential to limit document storage options and ensure adherence to corporate policies. For example, restricting document storage to approved systems like SharePoint can help prevent unauthorized access and enhance security.
- Contract management. Some organizations inadvertently expose themselves to risk with lax contract editing rules, allowing salespeople or customers to make changes to contracts beyond their approval authority. Digital signature solutions ensure that contract templates are enforced, approval workflows are followed, and customers cannot modify documents during the signing process. This reduces the risk of unauthorized changes and enhances compliance.
7 Ways Managed Service Providers can aid in Document Workflow Optimization
Functioning as an extension of an SMB’s IT team, managed service providers (MSPs) such as TechMD can play a key role in optimizing document workflows.
- Assessment and analysis. MSPs can help clients identify bottlenecks, inefficiencies, and areas for improvement in their document workflows.
- Tool selection process. MSPs can recommend and implement tools that align with the client’s specific needs and integrate seamlessly with the client’s existing systems.
- Configuration. MSPs can set up and configure workflow tools following industry best practices for optimal performance, security, and compliance.
- Training and support. If needed, MSPs can help train employees on the new tool, as well as handle regular updates and maintenance.
- Monitoring and optimization. MSPs can monitor performance to ensure the tool is functioning as expected, as well as look for continuous Improvement opportunities.
- Security and compliance. MSPs can implement robust security measures to protect sensitive documents, as well as ensure compliance with relevant regulations and standards.
- Automation and AI integration. MSPs can help clients identify and roll-out AI initiatives.
By optimizing document workflows, SMBs can reap serious benefits, such as time and cost savings. With the right workflows and MSP partners, businesses can enhance productivity, ensure compliance, and maintain a competitive edge.
About Foxit: Foxit specializes in offering cost-effective PDF editing and digital signature solutions. Their tools enhance productivity by reducing reliance on manual processes. Foxit’s recent innovations include integrations with Notary Live for easy document notarization, payment request capabilities through Foxit eSign, and unlimited eSign envelope usage with eSign Business. Visit Foxit for a free trial.
About TechMD: TechMD provides future-ready tech leadership, long-term technical fitness, and invisibility reliability for its clients. TechMD’s technical expertise and “IT built around you” personalized care allows its clients to focus their energy on creating positive impact for their companies and the communities they service. For more information, speak with a TechMD technology advisor today.
