If you’re relying on an old fashioned, out of date paper and filing cabinet system to run your business, then making the jump to a document management system will help you save time and money – and keep your important data secure. Learning more about what a document management system is and what it can do for your business can help you integrate this innovative and intuitive software into your own business with ease.
What is a Document Management System?
Far more than a simple cloud storage locker, a document management system is a fully functional suite of software that allows you to create, store, index, protect, retrieve and keep track of your documentation, data, forms and other information. A comprehensive document management system can help speed up your workflow, improve accuracy and give you peace of mind that your data is accurate and secure. Choosing a robust document management system for your business allows you to remain agile and to supply your team with everything they need to succeed
Benefits of a comprehensive DMS for Business
Making the switch to a document management system for your business has many benefits, from lowering your carbon footprint to increasing accuracy and even boosting productivity and efficiency.
Improved Customer Satisfaction
Serving customers in a timely manner and getting the results they want is the most common reason cited for making the switch to a document management system. Since this type of system allows you to complete projects quickly and improves accuracy, you can be sure your customers will come away pleased with the services you provide.
When you rely on printed or handwritten forms and documents, you’re at the mercy of the person who created them and every person who handled it. Did they lose a page, miss-remember some key bit of information – or have handwriting that is undecipherable.
The best part is, a good document management system will have version control settings. This is beneficial in a few ways. Firstly, your whole team can edit the same document and you will always be presented with the latest version. Secondly, all changes made are tracked. This includes who updated it, what was done and when the update was made. Finally, you can revert back to any of the previous versions of your document. This is a valuable option if for any reason you are not happy with the changes made. As you can see, version control is a great feature to improve accuracy and efficiency.
Reduced Storage Costs
Whether you’re paying to store and access paper files (some forms of documentation need to be kept for years while others need to stay accessible forever) or you have to move to a bigger, more expensive space just to keep track of all your papers. By switching to a document management system, you can finally get rid of all those paper files, without sacrificing the ability to recall access them at a moment’s notice. You’ll finally be able to get rid of the storage space you’ve been renting or able to reclaim some much-needed space in the office.
Lower Supply Costs
You buy paper, printers and ink by the case – and the wear and tear on your copier isn’t helping your bottom line either. When you switch to cloud management, you drastically reduce the amount of money you spend on physical office supplies, particularly on paper and related items.
Save Time with Instant Access
If your workflow requires a form, document or contract to be handled by multiple employees, they’re used to having to track down changes or even entire files from other departments. Piling documents into your filing cabinets and hoping your team can access them when they need to is an enormous time waster. A document management system allows your team to search for what is needed and find it in an instant without even leaving their workstation.
Gain a Competitive Edge
Every bit of advantage you get matters when competition is fierce in your industry. Opting for a document management system can help you provide better service to customers and offer better turnaround times on critical components and processes. The right system will also help boost productivity; your team can spend the time they used to spend searching for documents actually interacting with customers.
Find What You Need – Fast
When you enter documents into a management system, they are integrated into a complex system with robust indexing and search capabilities. No matter how many pieces of information or documents you enter, you’ll be able to find what you need in seconds. Rapid indexing means that you will not have to struggle to track down that one bit of documentation you need to complete a task or close out a project; everything you need is instantly accessible.
A good document management system will have security restrictions in place. You can assign varying levels of permission to employees, so they can and cannot access certain documents. This is a great way to handle sensitive documents.
Being green is more than just trendy, making sustainable choices can actually help you attract clients who value your conservation initiative. A document management system can eliminate thousands of sheets of paper each month, reducing your carbon footprint and ensuring you are running as green as possible.
What can a Document Management System Do for You?
The right solution will provide you with more than just the above benefits; with a document management system, you can easily scale up as your business grows, ensuring you always have the tools you need to succeed.
Collaboration and communication are enhanced and happen readily, since your entire team can access the data they need. By integrating with your mobile devices, you can allow instant access to projects, improving workflow and ensuring your team has the information they need when they need it.
Paper documents can be a management and trackability nightmare; with a document management system, you can easily track every move that is made and every change made in a given contract, document or project. Accountability is improved and if you are in an industry with compliance guidelines, you can be sure you have adhered to every regulation you need to.
The right document management system will make a big different in the way you do business and the way your team handles important paperwork. Contact us to learn more about your options and how our innovative document management solutions can help your business grow and thrive.
Now you understand the importance of document management systems, check out our document management best practices article.