Companies realize faster processes with electronic file management

More offices are going paperless for faster file retrieval and more efficient business-process automation.

According to the Denver Post, real-estate company Re/Max recently began digitizing its documentation and offering electronic signatures on contracts. Ryan Windsor, a technology trainer for Re/Max, said the long-term objective is to have an electronic platform that makes every transaction’s information readily available.

“So when an agent sells a property for $150,000, and it’s a short sale and the bank forgave the difference on the loan and who bought it, we’re going to have all that information,” he explained. “We’ll know more about the transaction than ever before. It’s a big change. It gives the real estate headquarters a better eye on what’s going on out there.”

Other companies are benefiting from better file organization and more insight into business activity, including Denver’s HomeSmart Realty Group. Brad Smith, franchise owner, told the Denver Post that because the company has multiple offices in different locations, it can be difficult to keep track of every transaction.

“My receptionist has screens for each location, so we don’t have to repeat the cost of a receptionist and a processor in every location,” he said. “Everything will be done administratively through a central portal. We’re going away from bricks and mortar.”

Intelligent features
In addition to increased efficiency, companies that use electronic document automation systems can enable more advanced search capabilities. For busy realty companies, this allows customers to view past sales records and third-party appraisals, while agents can more easily find legal documents for quicker negotiations.

Mark Tebbe, a personal business owner, has also seen immense advantages to digitization. He reported to the Chicago Sun-Times that with a paper system, he struggled to manage growing volumes of files, as he was running out of storage room. Document imaging technology enabled him to convert these records to PDF files that are easily organized, modified and updated. Additionally, electronic files are more easily searchable, allowing him to quickly find information he needs and complete tasks more efficiently. He has also benefited from an electronic system because now, files are accessible from any device, from any place, giving him a new agility that promotes growth.

A digital solution to file management can relieve the burden of maintaining high volumes of documentation so that enterprises can make better use of critical information.

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