Key Advantages of Document Management Systems
Document Management System has various benefits for organizations, such as reduced costs, improved workflow, and disaster recovery.
FREMONT, CA: Any enterprise relies on documents, whether they are electronic or paper-based. Information management, sometimes from multiple sources, can be challenging, especially with the rise of cybersecurity threats.
How can businesses remain productive while navigating document management challenges?
Organizations can benefit from multiple key advantages of an enterprise content management (ECM) solution coupled with a robust document management system (DMS) that stores and retrieves both paper and electronic documents.
Some of the significant benefits of Document Management Systems are as follows:
Storage space is reduced: The cost of commercial property is rising, as is the cost of storing paper documents. A software-based DMS can reduce the need for file cabinets, boxes, and storage bins in any enterprise. Hard copies of documents can often be stored in less expensive locations, such as offsite warehouses and vaults.
Security enhancements: To protect sensitive data, organizations of any size must ensure document security. With DMS, different groups or individuals can control access to documents. Automated alerts can be sent for managed documents because they are highly traceable.
Retrieval of documents is easier: Searching for and retrieving documents can take a long time. Office workers spend 30 percent to 40 percent of their day looking for printed documents, while organizations spend $20 to file a document, $120 to locate a misfiled document, and $220 to recreate a lost document.
The unnecessary costs of document management limit an organization's budget, hamper productivity, and limit its ability to grow.
It is possible to save time and money by using a document management system. A DMS can retrieve files by a word or phrase in a document, depending on the solution implemented. Integrating with business applications facilitates access to critical information. Remote access to documents is also possible with DMS. With an internet connection, organizations can access documents anywhere, anytime.
Collaboration that works: With an advanced document management system, organizations can quickly access content and collaborate. Multiple locations can access documents captured from different sources. Through electronic imaging, documents can be shared over a network via email or the internet. By providing better visibility into business processes, DMS can improve workflow monitoring. External users can be authorized and monitored for access.