Why construction companies should consider switching data processes
Regardless of the the industry, businesses file many documents into a variety of folders every day. Whether they are contracts, expense summaries or pay stubs, it is critical to keep track of this information. Sorting paperwork may take time, but it is important to consistently organize these documents.
Construction firms are one of many businesses that heavily rely on a thorough database, just in case a client takes legal action against their business. Unfortunately, the managers for these projects will have to "settle claims prematurely–and often without a complete understanding of the fact—or not litigate at all," a lawyer at Pepper Hamilton LLP wrote.
Instead, construction businesses can implement database management services to improve work efficiency and cover their bases. Business owners may argue that switching toward these solutions is time consuming, but it all begins with bulk scanning.
Enterprise resource planning software can pick up on handwritten files and store them in broad categories. For example, all project-specific documentation, including emails could be placed in one folders.
"Project-specific files reduce the likelihood that companies will have to collect a custodian's entire mailbox or documents folder and sift through all of the data to isolate just those e-mails and documents that relate to the dispute," Pepper Hamilton lawyers explained.
Because many of these projected plans can affect future commercial spaces in a city or town, construction companies are obligated to retain these documents for a specific amount of time, depending on the state. If the information remains in the company's document management system, it will be easier to call up paperwork when necessary.
Tab Service Company is a Chicago based company with over 53 years of experience as a data processing service provider. We provide business with outsourcing solutions for document scanning services, data entry services and mailing/lettershop services. As a SOC2-approved organization, we apply industry-best practices to our approach with clients.