Find Out How M-Files Document Management Software Helps Your Organization
Recently, M-Files commissioned Forrester Consulting to run a Total Economic Impact study. This helps companies like yours understand the benefits, costs, and potential savings of an investment in modern document management software.
The study interviewed 5 decision makers at companies that had switched to M-Files from legacy document management solutions. Here is a summary of the 3 top benefits they discovered.
Want the full study instead of this benefits summary? Read the complete Forrester Consulting report, “The Total Economic Impact of M-Files” with free access provided by PeopleSense.
The Top 3 Benefits of Using M-Files
Forrester Consulting’s Total Economic Impact study uncovered a wide range of challenges that interviewees experienced with their prior software solutions. Each of these was solved by the many benefits found in using M-Files.
Extend your learning: What is M-Files?
The top 3 benefits that interviewees most enjoyed about M-Files were:
- Faster Document Finding & Indexing
On average, employees using M-Files were able to find documents 40% faster than they could with their prior systems. They were able to store and index information 60% faster.
This was especially helpful when storing or finding complicated information, such as within documentation related to finances or engineering plans. Overall, it resulted in significant time savings when searching for or indexing any information.
How it works: Storing and indexing information is quick and easy with M-Files because it automatically creates metadata for the information contained in each document. In turn, this metadata-driven system makes it a breeze for employees to find necessary information in an instant, even from disparate filing repositories. With M-Files, your staff can pinpoint information in an instant, even if they do not know the name or location of the document that contains that data.
- Easier Compliance & Audit Response
Organizations using M-Files were able to complete necessary compliance and audit processes 25% faster than they could with their prior document management software solutions. This led to faster follow-up for all compliance tasks.
An added benefit: these faster processes also provided better, more proactive insight into emerging trends. These trends could have become compliance issues, if left unchecked longer.
How it works: Compliance processes in M-Files rely on automation and assigned permissions to ensure high levels of accuracy and security. This combination makes it effortless to find and identify the latest, most up-to-date information immediately when it is requested, and to ensure that sensitive information is only visible to approved viewers.
- Effortless Document Consistency
By leveraging the template capabilities in M-Files, companies were able to create documents requiring consistency, such as proposals, 50% faster than they could with their legacy software.
How it works: Users can create new templates from files with ease in M-Files. They can then use M-Files to automatically pre-populate data within templates. This saves significant time and effort. It also ensures better consistency from document to document.
3 Additional Tips to Boost Your Document Management Software’s Value
Overall, the Total Economic Impact study found that M-Files increased employee productivity by enabling staff to focus on the high-value activities that drove business success. This alone drives incredible business value – but why stop there?
Companies that want to boost their document management software’s value even further should:
- Use M-Files to improve customer experience
Companies can provide a more enjoyable customer experience when they leverage seamless electronic document signing and automated notifications powered by M-Files. Plus, since M-Files makes it easy to find detailed, up-to-date contract information, you can be sure your company is always staying ahead of contract renewal dates and reaching out to customers in a timely manner.
- Leverage the flexibility of M-Files to replace multiple solutions
Interviewees in the Total Economic Impact study found that they could use the power of M-Files to replace more than just legacy document management tools. As one CIO at a professional services firm stated, “We can do certain processes in M-Files that we otherwise would have needed a totally different software or an individual software tool. Now, we can use M-Files to do those.”
- Train staff on how to use M-Files collaboration tools
M-Files features useful collaboration functions that help keep documents on track, even when employees are remote or traveling. Detailed data within collaborative documents makes it easy to view the document’s history, including who has touched it and who has edited it. Better yet, M-Files workflows help automate the process of collecting approvals. This helps you ensure that documents have been fully vetted before they are released.
Find out more in the full Forrester Consulting “Total Economic Impact of M-Files” report
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