Neglecting proper document management has far-reaching consequences for businesses of all sizes across all sectors. The statistics paint a picture of wasted time and resources: 48% of workers struggle to find the documents they need quickly. As you can imagine, this quickly becomes a significant productivity drain, with 83% of employees admitting they have recreated files that already exist simply because they couldn’t find them.
What’s causing this level of document chaos? No defined document management processes and a lack of integration between core business systems. A shockingly low 26% of document and records management systems are built to connect with other core applications, creating data silos that make it impossible to create a single source of truth.
The good news is it doesn’t have to be this way. Choosing the right document management software for Microsoft Dynamics 365 F&O offers tangible benefits, including creating a single source of truth for business-critical data, enabling rapid search and retrieval, providing robust security and compliance and achieving significant cost savings through automation.
6 Document Management Software Features to Look Out For
We’ve established that inefficient document management comes at a high cost, both financially and in terms of productivity. The big question is: what does a suitable document management solution look like?
To be sure you’re choosing a system that delivers tangible results, we recommend selecting one with the following core features:
1. Seamless ERP system integration
Your document management system (DMS) shouldn’t just work alongside your ERP – it should be deeply integrated. This native integration means data can flow seamlessly between the two systems, providing a single source of truth for your organization.
When your document management is an extension of your ERP, you can do the following (and more):
- Attach invoices to purchase orders
- Link customer communications to users’ accounts
- Generate complex warehouse and shopping documents, such as Bills of Lading (BOL) or Advance Ship Notices (ASN)
According to Deloitte, 79% of business leaders report that their team’s productivity is hindered by disconnection between systems. A well-integrated DMS closes this gap, significantly reducing the manual work and errors that come from jumping between platforms.
2. Low-code or no-code
Low or no-code software is the gift that keeps on giving for your IT team, as it reduces the number of tasks on their to-do list. Low-code or no-code platforms offer intuitive interfaces that allow non-technical users to design, create and manage document templates and workflows.
This more democratic approach to document management means that the people who genuinely understand the business’s needs best can make changes quickly, rather than burdening your already busy IT team. 80% of organizations believe that low-code solutions can free up developers’ time to focus on more business-critical projects. Just think how many hours it’ll save!
3. Automated document creation
Automated document generation is a must-have for organizations undergoing an efficiency drive. An integrated document management system pulls real-time data from your ERP system to create a wide range of data-rich documents, from complex financial reports and invoices to contracts and sales proposals.
Automating document creation not only saves hours every week but also reduces the risk of human error, meaning documents are consistent and accurate. The impact of document automation is tangible – by automating data entry and document processing, insurance companies report an 80% to 90% reduction in manual errors.
4. Multi-channel delivery
Your customers interact with you through various channels, and your document management solution should give you the capabilities to meet them where they are. A recent report by Twilio revealed that 91% of consumers want companies to engage with them through their preferred channels, including email, SMS and, for some, physical letters.
While email is a top choice for many due to its convenience, a suitable DMS supports flexible delivery through various formats, including print, customer portals and in structured data formats like XML and EDI. The ability to support output documents in a wide range of formats, including PDF, Word, Excel and many more, provides the versatility you need to meet your customers’ document preferences.
5. Easy archiving and retrieval
Documents need to be archived securely and in an organized manner to ensure they can be retrieved with ease. With one report revealing that employees spend almost 2 hours every day, easy archiving and retrieval is a surefire way to increase your team’s productivity and make sure business-critical documents remain accessible for as long as required. No more digging through folder upon folder to find what you need – a suitable DMS uses intelligent search and metadata to locate the documents you’re looking for instantly.
6. Flexibility and scalability
Your DMS needs to be scalable because your business doesn’t stand still. Choosing a solution that’s flexible and designed to grow with you saves you headaches later on. The system must be able to handle increased transaction volumes and high-volume document generation without compromising performance.
Scalability is a top priority for many businesses today, with 78% of SMEs citing scalability as one of the main benefits of adopting cloud-based solutions, such as document management software.
Margiris Jasaitis, a consultant at ERP Mechanics, believes scalability is one of the most important considerations when choosing a document management system. He said, “The system must allow for different companies to have different layouts and must support flexibility so companies can use the same layout with different areas exposed to match their business requirements.”
Lasernet: Microsoft Dynamics 365 F&O’s document management must-have
Major efficiency improvements come from solutions that were built with your ERP system in mind, and that’s where Lasernet comes in. Instead of working alongside D365 F&O, Lasernet integrates directly into your ERP, providing complete document control without the need to juggle separate systems.
The output and document management software takes the complexity out of document management by automating the majority of the document creation, design, distribution and archiving process.
What are Lasernet’s key features?
Create data-rich, on-brand documents
Use a drag-and-drop interface to design documents and templates directly within Dynamics 365. This allows you to define what real-time data to include and control every aspect of document formatting to produce high volumes of professional documents.
No-code document distribution
Send documents to predefined destinations such as email, web portals or printers – without getting into complex coding. Deliver documents in various formats to meet any business or customer need, from PDFs and Excel files to XML.
Preview documents before sending
Review the documents you’ve created before distribution to make sure they contain the correct information and are on brand.
Archive and retrieve documents with ease
Easily archive and locate documents within the Dynamics 365 F&O interface. This provides more than just easy retrieval – it gives your team complete oversight over the entire document lifecycle, providing audit trails to support compliance requirements.
Deployment options
Select the DMS deployment option that best suits your organization’s needs: on-premises, cloud or hybrid.
Partner with ERP Mechanics
Why do our clients choose us over other implementation partners? The ERP Mechanics team is reliable, fast, and laser-focused on quality, bringing deep expertise to the table. With over 18 years of experience working with Microsoft Dynamics 365 and Lasernet, we can handle any ERP document management project, regardless of size or scope.
Partner with ERP Mechanics to bring powerful document management capabilities to D365 F&O.