When small businesses are thinking of ways in which they can streamline costs and boost efficiency simultaneously, one of the most effective methods that might be available to them is document scanning and ongoing management. There are a lot of perks that come with such an effort, some of which may be quite valuable for companies.

For one thing, when documents are digitized, they become easily accessible and trackable from just about anywhere a stakeholder can connect to the internet, according to Company Bug. This allows every user with access to a specific file to see who's handled it, what changes they made and when they accessed it last, while reducing the need to collaborate with others on the hand-off of physical files.

Other benefits
With that added transparency also comes increased data security, because physical files are far more likely to go missing than digital ones, and management platform gateways help ensure that only people with proper login information can access information, the report said. That brings with it the tertiary benefit of also reducing the need for smaller companies to devote such a large percentage of their floor space to filing cabinets loaded with potentially old files that just aren't relevant to a company's operations anymore.

What else happens?
When efficiency is increased in the ways described above, that puts small firms in a position to become a lot more agile, according to Business 2 Community. In many cases, quicker and easier access to documents results in better customer service, and also reduces the number of man-hours that need to be devoted to just about every intra-office task. Along similar lines, errors on documents may be reduced because there is more accountability to others when managing just about any file, and more eyes that can spot mistakes before they become bigger problems.

Moreover, with the reduced need for floor space, companies may also be able to find lower-cost office space that could save them a lot of money over the course of a year, the report said.

The more small-business owners or decision-makers can do to make sure they are getting every ounce of ROI they can on any investment they make, the better off they will be in the long run.