A document management tool is the essential business tool in the advanced digital device. Take a look at why you need a document management system and why it is a must-have in all the industries.
Any business is it a technology company, healthcare, manufacturing, automobile, beauty products, finance or any other marketing they all make a massive number of documents every year.
Documents are the building blocks of any organization. Materials have a central role in providing for proper functioning and overall success of any business. There won’t be any company who can do without sharing and reviewing any documents for the entire day. These documents include marketing brochures, projects proposals, technical documents, HR guidelines and training materials are the few documents named.
Let’s start with- What is document management system?
The simplified definition of document management system, as the name says, is a software that allows creation, storage, managing, indexing, protection and retrieval of digital documents. A significant document management systems store all digital documents in the cloud. They are more than the cloud storage. A DMS frames natural flow of critical information across the organization.
An optimized and good document management system helps you organize all files and data in one place. You can keep track of all your critical documents, speed up the workflow, enhance accuracy and provide round the clock access to any document around the world. A DMS helps organize and keep track of all your critical documents from anywhere in the world. Choose a secure document management system that will allow you to be a step ahead of the competition. A DMS that provides all information to employees who need to do their work efficiently.
Why is document management system important?
The continual digitization of our world has led to extraordinary growth in business data and content. Your organization is creating massive amounts of business documents, contracts, proposals, sales decks, marketing material, blog posts, HR guidelines, training manuals. Onboarding material etc.
These documents are usually scattered all over the place on your digital devices. You may have stored these documents in Word files, files stored in cloud apps like Dropbox, Google Drive, Onedrive, Box, files stored on your desktop, email attachments, etc. What will be your situation if you can’t find a file in the middle of a meeting? Your manager needs an important document and you can’t find it? You will be in a messy situation. Your potential client will have a wrong impression about you, or you may even lose a client. Organization of digital files has been an ignored factor for a long time. You need to realize the mess you have created for your organization. Browsing through hundreds of files/folders in the cabinets is very stressful. The digital mess can cause productivity loss.
There are hundreds of reasons why an organization needs to deploy a document management system immediately. Some of them include:
1. Cleaning up the digital mess-
A document management system will allow you to get rid of the vast digital mess you have been creating from past so many years. You have your documents scattered in laptops, PC’s, mobile devices, cloud storage, desktop folders, etc. It has become highly demanding to get a particular file at the time of need. A competent document management solution also helps you to create digital documents. The all-in-one solution helps you create a central repository of the current content and merge the new content with your team.
2. Reduce reliability on paper-
If you are still using the historical paper documents, it is time you switch to a document management system that will help you reduce dependency on paper and save additional costs for printing, storing, maintenance, filing, etc. Companies having revenues between $500k to $1 million can save up to $40k per year by switching to digital document management. 20 % of times saving is based on filing, retrieval efficiencies, banishing misfiling workflow efficiencies. Enhanced efficiency and higher staff productivity can save 6000 hours annually or 2.4 full-time staff positions.
Go paperless as it will help you reduce a tremendous amount of paper waste from the environment. Which will eventually save trees and our environment?
3. Enhance overall office efficiency-
In the age where competitors are breathing down your neck, you cannot afford to waste time and efforts in dealing with digital documents across different platforms and devices. It will take time from doing actual work you were hired to do to doing meaningful contribution to the organization when most of your time is spent in looking for documents. Work overload decreases productivity by 68 % in employees. Most of the employees feel that they don’t have enough time in a day to complete their tasks.
4. It makes information access breezy-
We are sure you had no idea how much productive time your employees are losing on the table only because they could not find the required information they were looking for. Most of the critical work documents are scattered over Google drive, One drive. Email attachments, PC folders and USB sticks. It is tough for you alone to gather all information you need.
- As per Mckinsey report, employees spend 1.8 hours per day, i.e., 9.3 hours per week on average searching and gathering information.
- 20 % of business hours, i.e., equivalent to one day is spent on searching for information to do jobs effectively.
- IDC data shows ” the knowledge worker spends about 2.5 hours per day, i.e., 30 % of workday searching for information.”
There is a major advantage of installing a document management system. DMS provides a central location for all files, documents, web links and other media. This is very easy for any team members to access information from anywhere on earth.
Employees do not need to save files in their hard drive or USB sticks. Employees have to log in to your management system account and you are good to go.
5. Safe and secure-
The best way to keep your documents safe and secure is to store them in digital format. Don’t worry about the security capabilities of hundreds of apps where all your data resides and don’t have to remember details of every app. A perfect DMS system comes with features like access control, document tracking, password protection, version control, real-time collaboration, real-time notifications, etc. Cloud-based storage system makes sure the company documents aren’t misplaced and are easy to access by the right party.
Whenever the business grows and becomes more successful so will the number of documents you create over time. More documents lead to more clutter, more folders to browse and more cloud storage services. This will ease the search and help easily locate email attachments. A DMS is the most scalable solution.
7. Quick search-
If your DMS is not in place searching the desired document at the time of need becomes far tricky. Finding the appropriate cloud service, the desktop folder or the right email can take many hours of crucial time. A DMS can perform a quick search is one of the most vital features.
8. Better Accuracy-
Digital documents are bound to be more accurate. The capacity to edit and collaborate on the document creation process. An excellent document management system provides with all the tools needed to create, edit and work the documents. A competent DMS ensures quality and eliminates inaccuracy. Features like version control and document tracking make editing visible to the rest of the group.
9. Provides a competitive advantage-
Organizations using a DMS possess a competitive edge on companies who are still storing their documents using the historical methods like desktop folders, hard drives, cloud storage spaces and other places. There are a lot of advantages over a company going digital over those who are not.
- Saving supply and storage cost
- Saving money and new hires
- More accurate documents
- Easy access to information for all authorized people
- Employees get the time to provide better services to customers.
Which Document Management System to Choose?
A good document management systems should have the following features-
- Scalable and be able to provide ample space as your companies document produce grows as a result of your success.
- It should give space for the employees to come together and collaborate, create, manage and edit documents and other necessary files.
- It should have a robust content management system to store all of the companies records and pdf papers excel sheets, guides, training documents and videos, images, etc.
- It should have robust capabilities to browse reports title quickly.
- Protect the information stored in the system
- Responsive so that information can be accessed from any device.
Docupile is a new age document management system that helps collaborate, share, track and manage all documents, files and content. Docupile also supports smart search which allows anyone to search find any records, images, documents and text documents.
Conclusion- Every company whether big or small needs to manage the vast amount of content. A DMS can streamline all the content an make it readily available to all employees and stakeholders. By opting for a DMS, you are opting for a competitive edge in your industry.