The 8 Reasons Why You Should Invest in a Document Management System

Whether you are a small organization or a large company, data management is the most crucial factor that will determine your fate in the Business. Investing in a Document Management system (DMS) is one step in the right direction.

A good DMS should ensure the security of your data while allowing easy accessibility to the documents.

By ensuring that your employees can easily store, retrieve, archive, and access the documents, you will be able to save time and thus increase your productivity.

However, depending on the nature of your Business, different DMS offer unique features to suit the Business. You should, therefore, ensure that you invest in the right DMS.

There are many benefits associated with its integration in your Business. Below are eight benefits you are sure to enjoy if you invest in a suitable DMS.

1.     Accessibility.

Document management systems store their information in one centralized location. This means that employees look for the documents in only one place.

They also come with time-saving features such as the word search, character search, and SharePoint categories. This narrows down the file options in companies that handle many files.

In case you are using a Cloud-based DMS, you will be able to access the documents in your desk computer from any part of the world, irrespective of the gadget you are using, including Smartphones. All you need is a stable internet connection!

It will also allow other workers from different parts of the country and the world, to access the company’s archived information hence streamlining the production system.

This cuts down the time spent by the employees in filing, locating, or retrieving lost files. It also means that they get more time to carry other tasks, thus increasing their productivity.

2.     Easier Storage.

Imagine how many cabinets or boxes of files a company like Facebook would require to store the information of each of their more than a Billion users. They’d probably hire an entire football pitch of cabinets for the files!

However, Document Management Systems have made it easier for such large companies to store the various files and data in one library of their system!

As a result, the company can save up on office space and can hence utilize it to carry out some of their essential processes.

With the help of a good document scanning software, you will also be able to scan your image files and store them as electronic documents in the DMS. This will help reduce the storage space used by the documents. You can visit here for more information about how DMS can scan documents and transform it to PDF.

Digital storage will ensure that cases of missing files are reduced, and fires or floods cannot destroy that data. It will also cut down on printing, thus create a greener working environment for the employees.

3.    Security of your Information.

The security of your clients’ information is the most critical factor to consider. When your company experiences a data breach, you will be exposed to numerous losses from lawsuits to losing the trust of your clients.

DMS’ offers a unique permission features to all employees, where each employee has different access permission to specific folders.

This ensures that only the authorized personnel can access specific files depending on their ranks, department, or relevance.

The DMS also leaves a digital trail of anyone who has accessed the files, including the time and location. This makes it easier to determine who caused your data breach.

It is also able to monitor any modifications and changes made in the documents, and thus you can add encryptions and passwords to your sensitive data for increased security.

Another huge benefit is that you can quickly recover lost files from your back up system in case of a loss or any illegal modifications added to your data. You may read this article and know how to prevent from data breach.

4.     Save on Cost!

By cutting down on your storage costs, implementing a good DMS means that you can save up to 50% off your budget!

This is possible since you’ll have saved on the cost of buying new cabinets and storage for your files. You will also be relieved of the expenses for your warehouse storage!

The space saved can be utilized to conduct other processes that will boost your long-term profits.

With no need for frequent printing of documents, you won’t have to spend on most office equipment such as photocopying and printing papers, stationery, etc.

There will also be a reduced usage in energy consumption since more work will be done in less time, hence less power is used.

Since the employees will be able to access the data quickly, they will complete more tasks faster, therefore, increasing their productivity and thus more profit!

5.     Easier Collaboration.

Document Management System allows for two employees to work simultaneously on the same document to produce a quality presentation of their ideas regardless of their location.

This feature also enables documents from different sources to be accessed from multiple locations, thus making service delivery more efficient.

Email sharing of files and other image documents are also enabled hence making the sharing of ideas and more accessible communication among the employees possible.

A good DMS will even allow you to monitor external users as they use you documents hence ensuring data security.

Versioning is also possible using DMS’. This means that each document can be easily updated to the latest version or even retrieve older versions of documents.

By allowing employees to work on the same document, DMS’ avoid version mix-up’s hence ensuring that everyone works with information that is up to date.

6.     Better Data Back-up and Retrieval.

With significant advancements taking place in the cyber security industry, you can never be too secure with your client’s information. Since anything may happen, you should always be prepared with a back-up plan for any disasters.

DMS’ ensure that all your data is backed up in the system hence making it possible to retrieve any information that might be lost or tampered with.

It also ensures that image documents are not lost after viewing, since they’re converted to electronic files that can be tracked and traced, thereby allowing you to rest assured of quality data protection.

7.     Regulatory Compliance.

The task of managing public information is one that is faced with numerous laws and regulations on how the data and documents should be managed and stored.

With some rules being more strict than others, a slight deviation from these rules may lead to the closure of your Business.

A Document Management system can play a huge role in ensuring that you are always on the right side with the law. This is because it offers a good, organized, and accountable way of storing the data.

In the event of an audit, the DMS can produce each of the documents required, hence prove that your Business is handling well the privacy of the information you receive.

The DMS also makes it much easier to incorporate new regulatory updates to your Business, since it will become easier to adjust your workflow from a centralized information system. You can get some valuable ideas from this blog on this particular point.

8.     Flexibility

When searching for specific files in a pool of documents, your employees are bound to waste valuable time that would otherwise be put to productive use.

The process of searching is tiresome, and life-sucking hence your employees will be too exhausted to do any other tasks creatively. This will affect their service delivery.

A good DMS will ensure that processes such as searching, editing, deleting, and recovering documents are much easier, and that time wastage and searching frustrations, while ensuring more tasks are completed.

They will improve in their customer service delivery since they can easily read their data irrespective of their location and time.

Besides reducing the search time, the DMS will also allow multi-tasking processes such as scanning, printing, and photocopying. As a result, more work will be completed at a time.

Conclusion

Document Management Systems have more benefits than those discussed above. They also facilitate scalability, competitiveness, improve your client relationships, and even streamline your workflows.

By incorporating the system into your Business, you can be assured of nothing less of improved productivity and efficiency.

At the rate at which the business world is changing, DMS has proven to be a pivotal asset in facilitating these transformations. With all the benefits it has proven to offer, the big question remains to be: Are you ready to invest in the future of your Business?