Document management is important for a modern business to have reliable, cost-effective hardware. Multifunction printers are the best choice of equipment because they provide copy, scan, and print functionality at a low price. Cross-functional devices solve the problem of printing documents on both sides as well as scanning and copying paper.
Document management includes both hardware and software, with the packaging of an ECM (enterprise content management) DMS updating your organization with the latest technology.
The document management system encompasses all of the processes related to processing and storing documents. They constitute how documents are created, shared, organized, secured accesses, and archived. The DMS also evolves with the progression of an organization into an updated ECM.
A good document management system should enable you to store, process, and retrieve documents when needed. This improves your company’s productivity since your time is not wasted on inefficient document management.
Below are seven benefits of having a Document Management System:
1. Centralized document/file repository
Professionals in your office spend time looking for documents in stacks of papers. With a DMS system, the paper will stack up on desks, and cabinets are not assigned to them anymore – filling a centralized system with everything organized and quickly accessible. Documents can be edited by the user and shared with colleagues on demand.
A cloud-based file sharing solution can carry over outside of the office as document pools can be accessed from anywhere.
2. Streamline workflows-
To prevent accidental versioning issues, it is recommended to implement a DMS. Some organizations will have multiple employees using the same documents, but this can be solved by implementing an enterprise content management system where all files are stored centrally.
When it comes to document management, reliable hardware is a must-have. Multifunction devices and multifunction printers can be the perfect solution. A cross-functional device will satisfy the need for printing, copying, and scanning documents.
You can also set up a version control DMS. Version control systems are more robust than other storage solutions because they keep copies of documents and files maintained by date.
DMS software also includes a version control feature that helps recognize what types of documents are coming in and assigning workflow templates to them. The document is routed automatically to the next employee without anyone having to get out of their seat.
Docupile’s content folder module helps to ensure that invoices are verified by stamping each document. This is a core feature in the update process for an enterprise content management system.
3. Compliance is a breeze-
With a Document Management System, you will be able to stay compliant with your DMS compliance management. With advanced security measures, the system ensures easy accessibility in case of an audit by ensuring records are correctly kept.
The company’s regulatory framework can be modified in the workflows of the DMS as it is designed to be updated. Employees will no longer need to make errors while maintaining data due to any changes made by the regulatory government bodies.
4. Increased data security-
IBM reports that large data breaches can cost up to $140 per breached document. But even if companies spend all the money they have on boosting their cybersecurity, it’s still not enough. The most common way organizations face data breaches is through unsecured folders open to the network. A prevalence of paper documents in unlocked drawers and folders also leaves case-sensitive information vulnerable to hacking.
A DMS ensures that only authorized employees have access to information. Every change made to the document is recorded, so if at any point someone tampers with the document, you will know who did it.
5. Less printing= greener office
Policy from conecomm a global CSR study, shows that 91% of the global consumers expect companies to be responsible in regards to environmental issues.
A DMS will potentially help you recycle documents by digitization. This will also reduce paper usage.
6. Cost saving
Saving paper is not the only primary cost-benefit to going digital. Additional benefits include both cost and space savings, as office space in a paperless environment can be up to 60% smaller than an office littered with filing cabinets of files.
7. The Intangibles
The intangible benefits that document management include-
- Improved client relations
- Peace of mind
A DMS is a powerful investment that boosts efficiency, and an improved enterprise content management system results from its use.
A quality and effective Best DMS Software will benefit your organization. Schedule a demonstration today to see how it will be tailored to fit your company.