Document Management: 101

It could be said that businesses hinge on the documents they create together as teams. Documents are the collective output of a team’s brainpower. They are essentially a business’s IP and therefore its worth. Despite the significance of documents within a team, this is the one area that most senior leaders pay the least amount of attention to getting right, unless are messy, duplicated and in many cases lost. Document management needs a strategy and it needs to be flexible enough to grow and expand as the business grows and expands. The Cost of Not Managing Documents Considering that the time in motion studies prove that the average person wastes 30 minutes every day looking for information they cannot find, when one starts doing the maths behind that, the numbers can become quite scary, quite quickly: Assume a five day working week, in a team of 20 people: 2.5 hours per week, per person lost 10 hours per month, per person lost 200 hours per month lost across the team At an hourly rate of €20 per person, a team of 20 people is bleeding €48 000 a year from its bottom line. Below follow a series of effective steps on both a strategic and tactical level to make document management the backbone of the business rather than the left behind child that needs minding: 1. Define the Rules Dangerous assumptions are made around work. Business leaders assume people know how to manage documents, how to file, how to manage email and how to organise a task list. Sure, most people might have hacked together some form of working...