5 Reasons why every company needs a Document Management System
Documents. Every company has them and they are of vital importance to just about any company. But it is not easy to manage all your documents, whether electronic or paper. A document management system makes that task faster, easier and more efficient. Here are the top 5 reasons why your needs a DMS.
Companies need systems that place the right information, in front of the right staff member, at the right time. The case for centralizing the storage of and access to such information is strong and yet, many businesses still do not fully understand the need for updating their document management processes. Let’s take a deeper look into what a document management system can do for any company or organization.
1. Universal accessibility
As long as there is an active internet connection and a device that you can hook up to that connection, a web-based document management system enables employees to retrieve documents wherever they are. And that makes information sharing and collaboration a lot easier.
A DMS provides greater visibility to business processes and can allow for better workflow monitoring. Authorized access by external users can be allowed and monitored. A DMS also offers Version Control. This allows for you to see how many versions of the same document you have and which one of those is the latest. This feature is important if several parties work on the same document and there are changes made to a document that were not authorized or meant to happen. You will always have a backup.
2. Productivity goes up
You know the feeling of looking for that one physical document? You just need one small detail of it, but it takes you ages to find. That is a thing of the past with a good document management system. Over there, your documents are stored in one place, which can easily and quickly be searched. Imagine the hours it will save you in a day.
It results in more productive employees, as they can now spend more time focusing on their jobs. Even for huge companies that process millions of documents every year, the right document management system allows users to locate that one document in a matter of seconds. You can also improve your workflows and, if needed, use a DMS to automate certain processes and reduce the number of human touchpoints in a process.
3. Ensure compliance with laws and regulations
An important aspect of GDPR, concerns the security of personal data. As administrators, companies and organizations have the obligation that this personal data is stored securely and that it cannot be misused in any way. Processing and storage of personal data must not go wrong. Non-conformance can lead to fines, revoked licenses, and in some cases criminal liability.
A DMS reduces the risk of non-compliance. It can help you with the confidentiality, integrity and the availability of data. Records retention schedules, for example, can be automated, and new documents can be more easily classified and stored.
What you do not want, is unauthorized alterations or even the destruction of your data. That are just two reasons why security is so important. You could even say it is critical for organizations of all sizes to keep sensitive data protected.
A DMS provides control over sensitive documents, as you can control the access to documents at the folder level for different groups or individuals. Furthermore, a DMS leaves an audit trail of who has viewed a document, but also when it was accessed and, if so , how it has been modified. Managed documents are highly traceable and can be tagged to allow for automated alerts.
5. Save storage space
For companies that handle a lot of physical documents, the cost and space needed to store them can cause issues. But do not underestimate the costs of storing individual documents on individual systems. Hard drives will fill up and there will be different versions on each individual system.
A DMS allows you and you colleagues to get rid of the documents you do not need, but which you do have. Think about documents scattered on your or your colleague’s laptop, PC, cloud storage, email attachment or desktop folders for example. It becomes extremely difficult to locate a particular file at the time of need. A DMS allows you to store and search your documents in one central location.
In short, document management systems are an evolving and often customizable solution used for the management of documentation. For most businesses, document management systems could be used to improve business processes at every level of the company.
3s.DMS is the solution we offer from our own Solution Software Suite. If you would like to know more, please do not hesitate to get in touch!