DOCUMENT LIFECYCLE MANAGEMENT

Business documents are vital strategic, financial, operational and intellectual assets that are essential to daily business processes. They constitute the lifeblood of an organization.

Document lifecycle management is the use of technology, processes and people to manage documents throughout their useful life spans, from creation through archiving or disposal. It allows businesses to maximize the utility of documents, and the information they contain, as critical business assets while minimizing document-related risks. By managing the linked document processes that make up the complete lifecycle of events, including electronic and paper formats, organizations are able to:

• Improve document process performance
• Increase operational efficiency and effectiveness
• Minimize document risk
• Improve compliance outcomes
• Reduce document management costs

Characteristics of Document Lifecycle Management:

• Manages critical business document assets throughout their life spans of value, from creation through archiving or disposal
• Operates across different media, formats and locations
• Provides efficient, agile, secure access throughout a document’s lifecycle, according to value as well as operational and compliance requirements
• Facilitates document storage, access and retrieval so that the right people can find the right information at the time when it will provide business value
• Optimizes business value and mitigates legal, financial and operational document risk

Definition of a Document

The definition of a document has evolved as technology has advanced and legal parameters have expanded. Today, a sound lifecycle management strategy must encompass:

• Paper documents
• Electronic documents
• Unstructured and structured information

Documents and information are recorded, stored and distributed in four basic physical media: paper, film, magnetic and optical. Information flows through electronic channels including the Internet, email and instant messaging and also travels via traditional postal and package delivery.

The Document Lifecycle

The document lifecycle spans an activity chain of interlinked processes, including:

• Creation: The creation or capture of documents or document inputs
• Distribution: Dissemination to recipients, printers, document or content management systems, storage such as web repositories, in electronic or paper form
• Printing & Finishing: Black-and-white and/or color printing and finishing such as binding and tabs
• Access & Storage: Secure storage and availability for authenticated, authorized access for viewing, searching, revision, version tracking and repurposing
• Archiving: Secure maintenance of paper and electronic documents and records for later use or destruction at the end of their useful life spans

Challenges/Risks of Poor Document Management

Attempting to manage multiple types of documents in different formats and workflows, especially those that touch many points in an organization, often results in a structure where costs are hidden, unmanaged and uncontrolled. This haphazard approach to managing the document lifecycle drains capital, impedes employee productivity and reduces shareholder value.

Failure to treat business documents as vital assets and to manage them throughout their useful lifecycles can lead to:

• Diminished document utility
• Decreased business efficiency
• Increased operational risk and cost

What is the measure of effective lifecycle management?

Effective specialists in document lifecycle services manage business documents throughout their useful life spans to ensure rapid and secure access, distribution, printing, conversion and archiving. This allows business to meet compliance and regulatory requirements while preserving the productivity of employees and agility of business operations.

How can Advanced Document Lifecycle Management be achieved?

In-house: Gives companies complete control over document process management but requires ongoing, substantial investments in staff and technology resources required to launch and maintain long-term document lifecycle solutions.

Outsourced: Relies on an external service provider with expertise in the document domain. This enables an enterprise to focus attention and resources on its core business while taking full advantage of advanced document lifecycle solutions, technologies and best practices cost-effectively and with minimal impact on business operations.

Océ for Document Lifecycle Management

Océ Business Services delivers expertise in document-intensive business processes and has a deep understanding of industry requirements. We are one of the world’s leading providers of document process management services. Océ solutions span print and copy management, fleet management, comprehensive mail services, imaging, records management, eDiscovery and professional document assessment services. Advanced business performance management software and benchmarking tools support document best practices and innovation.

Learn more about our Advanced Document Lifecycle Services.