Office workers used to drown in paperwork. Swimming through piles to find a document they needed was tedious and time-consuming. With modern tools, however, we can finally put this drudgery behind us.
This is all thanks to workplace digitization and business document management system (DMS). They govern both paper and digital documents and automate various processes related to their management.
The result is a superior level of collaboration, organization, and asset distribution within the company. You can bid farewell to document misfiling and having to turn chaotic workstations upside-down.
We present you with the main benefits you can reap from a functioning DMS.
A Centralized Repository
We can’t seem to get by a single day without business dealing with documents.
We have to manage a wealth of information, often from a heap of different sources. Merely finding and retrieving something is a hassle.
DMS is your chance to foster and orderly document ecosystem. It covers multiple key areas, such as company-wide document:
Apart from documents, one can also manage other business assets. Usually, they are all traceable via central storage all employees have access to. This fosters a higher level of flexibility and productivity.
These are just some of the main benefits of having a proper system in place. DMS is also an opportunity to boost efficiency and cut operational costs.
An average organization spends $20 in labor just to file a document. Recreating a missing document can cost you up to $220. Moreover, it’s estimated employees spend way more time looking for information than actually reading it.
The situation can get much worse for those without a developed system. Mistakes like misfiling a document happen more often and consume a whole lot of time and money.
Setting the House in Order
The good news is we can let document management (DM) software to do the heavy lifting.
It serves as an essential tool in any business’ arsenal, which is used to automate processes related to DMS. For instance, a proper software solution reduces the amount of paperwork and together with it, physical storage requirements.
We all know office spaces can come at a premium and with a hefty price tag. Well, DM software allows you to get rid of those bulky file cabinets and free up floor space.
Of course, you’ll still need to identify the document you have to keep as hard copies.
The next advantage comes in the form of easier document retrieval. You can simply type the keyword or phrase and find what you need in no time. Some solutions allow users to assign index categories to folders and files.
Improved Control and Oversight
Furthermore, software-driven DMS facilities better control over sensitive documents.
You can be very selective about who gains access to specific folders and files. There’s also a digital trail detailing who opened a document, as well as whether and how it was modified.
You can even set an automated alert whenever a certain attention-worthy activity takes place. If you want to integrate DMS with other business applications, we would recommend using such measures.
This brings us to the next point— collaboration and information sharing via the cloud. Geographically dispersed teams can work on the same project without missing a beat.
Electronic Imaging enables easy sharing across the network. On the other hand, Version Control lets you keep track of different versions of the same document. Everyone taking part in the project can retrieve the older edition if need be.
All in all, there is a higher level of visibility and transparency. Management is in a position to exert better workflow monitoring and control and makes well-educated decisions in real-time.
However, you should be careful with remote access. It’s a highly convenient proposition, but one that could also undermine your cybersecurity. Therefore, enforce strict access control throughout the business network.
Staying on the Safe Side
An integral component of a well-rounded DMS is data backup and disaster recovery.
Digital archiving prevents your information from sinking into oblivion. Paperwork has a tendency to do that in a wake of natural disasters such as floods. This is to say digitization ensures business continuity and spares you the costs of losing vital documents.
Moving on, DMS solutions help business organizations meet compliance requirements. For example, you may automate record retention and other key processes. This removes human error and guesswork from the picture.
You’re able to steer clear of risks such as nasty fines, license revoking, and criminal liability. They are linked to violations of state and federal regulations on privacy and security. In the process, you also avoid tarnishing consumer trust.
Cherry-Picking Your Business Document Management System
You should now have a clear idea of what DMS can do for you.
What’s left to do is select your tool and put it to good use. To reach an informed decision, do your homework. There are no one-size-fits-all solutions out there.
Platforms like Docuware are enterprise-grade systems geared toward smooth automation. Others are tailored to small businesses operating on shoestring budgets. Then, there are those catering to highly regulated industries (like medical devices).
The trick is to go through product reviews and compare the features. We would implore you to keep an eye on the following features:
- Seamless integration with business apps
- Document digitization
- Process automaton
- Document search and categorization
- Simultaneous updating
- Disaster recovery
- Advanced security
- Page creation and organization
They are all good candidates for your must-have list, as opposed to a list of nice-to-haves.
Lastly, we would suggest picking a scalable solution. Your business evolves and your needs change over time. So, don’t lock yourself into a deal you will grow out of quickly.
You can always schedule demos to get a taste of what the system is like.
Time to Shape Up
Business document management systems are quickly becoming a norm across industries.
You don’t want to lag behind this trend. Employ software based-tools to carry out digitization and keep paperwork overflow at bay. Refine and automate the management and distribution of your assets.
Promote best practices, such as archiving and digitizing documents the moment they enter the system. Ensure all employees can tap into relevant and most current information.
With a streamlined workflow, you will save precious time and other resources while enhancing productivity across the board. It’s a true win-win.
Check out our other articles to discover useful tips and advice. Gain much-needed peace of mind and ward off unnecessary headaches.