Do Real Estate Developers Need Document Management System?

 

Real Estate is one of the industries that have a massive demand. Owning a property is one of the many areas to cover. But every transaction involved in real-estate is equivalent to a document processed; to ensuring the legitimacy and legality of a deal.

 

Real estate developers, vendors, contractors, brokers, financing firms, even the workers and investors can relate to the struggle of complex managing of documents coming in every transaction. Juggling through various types of documents kills productivity. Thus, the need for better document management is necessary to run the business seamlessly.

 

We’re bringing you 4 reasons why Document Management System always matters in Real Estate Process.

 

Improves internal productivity and customer service

The transition from the manual labor of processing documents: filing, managing, retrieving, scanning, archiving, into a digital document management system will add to the overall productivity benefit of the management. This results in an effective and efficient workflow. 

 

Documents available in Cloud

Digitized documents can be securely uploaded on the cloud which allows authorized users to access certain records in one place, anytime and anywhere. Documents are also backed-up, ensuring business continuity.

 

Manage Document Contract Retention

Tracking multiple document expiration is laborious work. Thus, setting document retention periods via document management software eliminates the manual work compared to the tedious reviewing of expired records.

 

Software customization depending on Document feature use

A Document Management Software may not be a “One-size-fit-all” solution for one enterprise. Depending on the demand for expertise, ePDS offers software customization to address the company’s needs. Customizing the software opens the potential for creating excellent document management in the organization.

 

 

With proper and efficient document management system, searching for the right document is easy as searching for your favorite music playlist. This significantly reduces a large amount of time and effort wasted compared to manually scanning through a pile of folders.
Getting started with Document Management System in your organization give you the advantages of:

  • Reduced Storage Space
  • Enhanced Security
  • Improved Regulatory Compliance
  • Easier Retrieval
  • Better Collaboration
  • Better Backup and Disaster Recovery
  • Flexibility and Competitiveness

For 16years, ePDS, a subsidiary of ePLDT (the digital enterprise enabler of PLDT), has been supporting its clients in reaching out to their customers, partners, associates, and even regulatory bodies by providing variable data printing and mail processing, digital customer communication and document management solutions through a wide range of media and output, including physical, digital archives, e-mail, short message service (SMS) and online web pages. For more information about their services, visit https://epdsi.ph/.

6 Common Problems HR Practitioners Goes Through All The Time

 

HR Department plays a big role in every company. This department handles the most valuable asset, every organization has, its employees. Its job doesn’t stop at hiring an employee and coming up with engagement activities, but it is a continuous work of delivering and updating employee compensation, requests, benefits, and training and development.

 

HR has plenty of challenges to face; one of these is the problem against managing the documents. Most of the HR works revolve around document records; including HR 201 Files, Request Forms, Leave forms, Daily Time Record, Payroll etc. Thus, providing the right and appropriate tools to this department will lessen the dilemma of work compelled to its employees.

 

These are the dilemmas HR encounters:

 

  • Long Retrieval Process

The retrieval of physical documents may be the most challenging stage of processing records. It consumes 2.5 hours of a day or 30% of working hours per week is wasted in searching a piece of information according to IDC. This is a common dilemma among HR employees that cuts down productivity.

 

  • Paper works all the time

Not all HR employees have the same delegation working with physical documents in the HR Organization Structure. But working with a bunch of records are still inevitable. Dealing with physical documents long enough may result in; worn out or crumpled documents, misplacement, and puts your company from unwanted eyes due to data privacy/regulatory compliance.

 

  • Paper all over the place

Some people can still work well with a messy workstation, but most people are easily distracted with unorganized desk due to chaotic documents and unnecessary items. According to the study, “Working in a clean and tidy working environment means you are less likely to be distracted by objects cluttering up a work-space, hence clean offices can lead to increased focus”. This is one factor that affects the cost and productivity of HR employees.

 

  • Security/Authorized Personnel Control

Security in every organization is a must. Every vital document, especially personal records, has to be stored in a secured facility, either physically or digitally. Any data breach and risk of unauthorized processing of personal sensitive information could place a company to face a fine not lower than 500,000 php to 4M php, according to the National Privacy Act of 2012 by National Privacy Commission.

The best way to secure your assets is by assigning authorized users to limit access to software and facilities. Using passwords, username-level authorizations and group policies on Document Management Software could minimize the access of unauthorized employees. Physically securing valuable equipment can be accomplished through locks, cables, and prudent equipment placement.

 

  • On-time Document Submission

The mismanaged document is one factor in delivering late submission of requirements. The failure to file documents properly is inefficient and practically costly. And by cost, we mean the time that is wasted doing unnecessary things that could be avoided by appropriate filing; like prolonged retrieving of records, finding unsure information, and continuous duplication of documents. Having a well-organized filing system creates an easier, seamless and efficient workflow producing a better result. Remember, ‘Filing is an important skill!’

 

  • Complicated Document Searching

The rapid change in technology has vastly changed the way we access information from the internet. Unfortunately, a large number of companies still do not acquire the proper tool that quickly reads certain information inside a document that leads to difficulty in searching and retrieving. HR employees, dealing with a large number of records, appeal to utilize appropriate tools to process documents in an easier and smoother transaction. Giving more time to focus on more important matters.

Documents against Disaster

 

Natural disasters are a crucial threat for it is unpredictable and affects massive damage to your business, losing valuable records and documents show the vulnerability of security, but with digitization, a business can attain more than just the protection of documents.

 

The Philippines is ranked third in the 2017 World Risk Index (WRI) of most disaster-prone countries in the world, scoring 27.69% and also ranked third on the 2017 WRI’s list of countries with the greatest exposure to natural disasters, with a score of 52.46%. 

 

An average of 20 typhoons per year enters the Philippine Area of Responsibility. Manila is vulnerable from floodings since Manila has a poor institutional and societal capacity to manage, respond, and recover from natural hazard events.

 

In the case of fire incidents, according to the 2017 Consolidated Report of the Association of Safety Practitioners of the Philippines, Inc. (ASSPI), 4,645 cases of fire incidents occurred in NCR. 305 cases or 6.6% are from businesses.

 

The Philippines is also never safe from Earthquakes. The West Valley Fault is known for traversing various parts of Metro Manila and surrounding provinces, and it is said that this faultline can strike the “Big One” once it moves.

 

It is said, the Philippines rests in the Pacific Typhoon Belt, and Pacific’s Earthquake and Volcano Ring of Fire.

 

The impact of natural disasters like fire or flood can leave a permanent mark on a business. The Loss of Assets can bring lasting damage such as loss of business properties or productivity loss. Recovering takes a lot of time and money that may result in bankruptcy or worse, shutting down of business. 

 

Disasters are an alarming threat to businesses that put your company at risk, therefore advance solutions implemented before threats happen are a great benefit for the business since it lessens the impact of any disasters. 

 

Jumping to document digitization is an advantage that can protect your business from disasters. This involves converting physical documents such as HR 201 files, Legal Documents, Financial Documents, Business Reports, Business Letters, and Invoices, into a digital document storing in a document management software. Moreover,  digitizing documents will enable businesses to protect documents from disasters; improve compliance with the Data Privacy Act; and allows faster retrieval of documents. 

 

ePDS, Inc. aims to help clients begin their digital transformation journey by starting in document digitization, it is the first step to achieve a successful transformation. Document digitization is the process of converting paper-based document to a digital document with a scanner or a camera and encoding key information for easy archival and retrieval.

 

Make your documents disaster-proof with ePDS Document Management Solutions to ensure the security of every file from theft, loss, or even natural and man-made disasters yet accessible and easy to use as it is digitally managed and stored. It is not just an advantage but an opportunity on keeping up with the modernized system of handling documents and improving efficiency and productivity.

For 16 years, ePDS, Inc. an ePLDT company (the digital enterprise enabler of PLDT), has been supporting its clients in providing document imaging, indexing, processing, and document management software. For more information about their services, visit https://epdsi.ph/.

Best Industries to Benefit From Document Management Services

Day-to-day operations in an enterprise are focused on output but tend to overlook small detailed stuff, especially when no employee is committed to the specific matter. The accruing load of the neglected task; from a couple of days to weeks, to months, to years, can significantly affect the weight of work necessary on accomplishing business operations

 

Handling physical documents is one of the works that is most likely to be overlooked. Various industries process different documents that require different handling based on its content and regulatory requirements.

 

Incorporating digital transformation to business brings more opportunities in improving process and quality of work. Digital Transformation should be done the right the first time and this should start with company documents.

 

Listed below are industries and department that will benefit the most from the Document Management System:

 

Business Process Outsourcing Industry (BPO)
HR 201 Files

Maintaining 201 files is a tedious and time-consuming task with an average of approximately forty (40) document types or fifty (50) pages document. These documents are regularly updated with employee training, promotion, memo, etc. and is very important for on the spot audit and employee requests. Large organizations that do not have an efficient document management system tend to lose essential records.

 

Finance Department 2307 & 2316 BIR Forms

Submission of copies of BIR forms 2307 and 2316All large taxpayers(LTP) are required to submit BIR forms 2307 and 2316 in an electronic format with the prescribed specifications of BIR. Other companies not classified as LTP may opt to switch to soft copy submission but may not revert back to the submission of hard copies.

 

Fast Moving Consumer Goods Industry (FMCG)
Sales Invoice

Invoices in an FMCG company usually comes from various suppliers with different formats, attachments, and in bulk. Managing invoices in this industry can be very challenging especially without proper guidance and best practices. FMCG companies tend to overlooked proper invoice archiving so when a dispute arises it takes time to validate which invoice was involved. Having document management will give access to digital copies of invoices in a few clicks resulting to process efficiency.

 

Bank, Finance Services and Insurance Industry
Application Forms

Fill-up forms, may it be applying for a bank account, credit card, mortgage or insurance are best done written for authenticity. Application forms are converted to digital data with indicated fields to be used in processing personal account for business operations. Processing a large amount of application will be more efficient and reliable with sorted data encoded from physical conversion.

 

Manufacturing Industry
Job Order Document

Getting piled-up with job order documents could be frustrating when documents are unavailable for report submission. Physical storing is not be enough for urgent retrieval of documents in generating reports and data.

 

With proper and efficient document management system, searching for the right document is easy as searching for your favorite music playlist. This significantly reduces a large amount of time and effort wasted compared to manually scanning through a pile of folders.
Getting started with Document Management System in your organization give you the advantages of:

  • Reduced Storage Space
  • Enhanced Security
  • Improved Regulatory Compliance
  • Easier Retrieval
  • Better Collaboration
  • Better Backup and Disaster Recovery
  • Flexibility and Competitiveness

 

For 16years, ePDS, a subsidiary of ePLDT (the digital enterprise enabler of PLDT), has been supporting its clients in reaching out to their customers, partners, associates, and even regulatory bodies by providing variable data printing and mail processing, digital customer communication and document management solutions through a wide range of media and output, including physical, digital archives, e-mail, short message service (SMS) and online web pages. For more information about their services, visit https://epdsi.ph/.