Sophisticated document management solutions make use of cloud technology to reduce application and credential acknowledgement times from weeks to days, or even hours. Once a database is housed on a platform with virtually unlimited capacity for expansion, it makes good sense to use the same environment for advanced communication and tracking.
With all that horsepower and data in one place, isn’t that an ideal space for some degree of operational and strategic analytics? You’d be surprised how often these opportunities slip through the cracks.
These decisions are unique to the institutions that make them. There is no single, “right” solution, but the best vendors should be able to offer choices that deliver the shortest route to greater efficiency.
Not “One Size Fits All”
The most successful companies offer a variety of products and services that scale to an institution’s volumes and needs. When one considers the service side of things, tremendous opportunities for process improvement and return on investment (ROI) present themselves.
Let’s look at a case in point. A large urban university went from 40 temporary workers to zero after they implemented the cloud and eliminated paper with a leading cloud provider offering a full range of services.
This reduction in labor cost was carried out while simultaneously improving and focusing communications. It’s a perfect example of an immediate return on investment—significant in the short run and impressive in the long run.
Add to it the ability to free up prime office space on a crowded urban campus, and you have the kind of results that would make the toughest CFO smile. What’s more, the combination of remote document management and web-status check held fulltime staffing constant even as application volume increased exponentially.