Do you know what all companies have in common? It doesn’t matter if it’s the IT industry, healthcare, manufacturing, automobiles, cosmetics, finance, or any other industry, they all rely heavily on documentation.
Documents are the foundation of any company. Documents play a critical part in the smooth operations and ultimate success of it.
There isn’t a single business on the planet that can get through a day without reading and sharing papers. This comprises of, among other things, marketing brochures, project proposals, technical documentation, training materials, etc.
Yep. Documents in the workplace are essential!
The difficulty is that the more documents we create and rely on for work, the more important it is to have processes in place to manage them across the organization. And, a Document Management System can be a best bet for this.
But, first thing first-
What is actually a Document Management System or DMS?
As the name implies, a Document Management System (DMS) is a system or software that makes it easier to create, store, manage, index, protect, and retrieve digital documents. Although the majority of Document Management Solutions store all of your digital documents on the cloud, they are much more. In a true sense, it is a framework that allows vital information to flow freely throughout a company.
A competent Document Management System may help you organize all of your files and data in one place, maintain track of all of your key papers, increase accuracy, and enable 24/7 access to documents from anywhere in the globe. As a result, using it allows you to stay ahead of the competition by providing all of the information your staff requires to complete their tasks effectively.
What’s more? Document Management System is totally off the charts!
Apart from helping make all of the tasks associated with document management easier, faster, and more efficient, DMS offers numerous reasons why a company should use it right away. Here are a few examples:
1. Reduced Storage Space
Any business can benefit from a software-based DMS that eliminates the need for file cabinets, boxes, and storage bins, freeing up valuable office space.
2. Enhanced Security
To protect sensitive data, document security is crucial for enterprises of all sizes. Access to sensitive information can be regulated at the folder level for different groups or individuals. In addition, a DMS keeps a track of who has viewed a document, when it was accessed, and how it was altered. Documents that are managed are highly traceable and can be labelled to trigger automated alerts.
3. Improved Regulatory Compliance
Meeting certain compliance standards manually in document management can be rather complicated. At the same time, non-compliance can result in fines, license suspension, and, in some situations, criminal liability. Sarbanes Oxley and HIPAA, for example, are federal and state regulations that require tight security and privacy guidelines. However, non-compliance is less likely with a Document Management Solutions.
4. Easier Document Retrieval
Finding and recovering papers can take a long time, and we all know that is ultimately taking money out of our pockets. The average office worker spends 30 to 40% [Source: Forbes] of their day looking for printed documents, while businesses spend $20 on labor to file a document, $120 on labor to find a misfiled document, and $220 on labor to reproduce a lost document [Source: Konica Minolta]. These excessive document management expenditures chew into a company’s budget, hinder productivity, and limit its potential for growth.
A Document Management System can be a time-saving and powerful tool. A DMS can retrieve files based on a word or phrase in a document, depending on the solution used. It also allows users to access documents from afar. Documents can be accessed from anywhere at any time as long as there is an internet connection.
5. Better Collaboration
Acting as a central repository, an advanced Document Management System Software substantially simplifies the ability to access documents and collaborate. It gives more visibility into business processes and allows for improved workflow monitoring.
6. Better Disaster Recovery and Backup
A data backup and disaster recovery plan are included in a well-designed Document Management Solution. Documents are protected from fire, flood, and other disasters with digital archiving as a back-up. Documents are also easily traceable and may be tracked using a variety of criteria using a DMS. Thus, it lessens the possibility of papers being misfiled or lost after they have been seen.
7. Productivity Improvements
With all the data and documents just a click away, the team can put all its efforts in just working rendering higher productivity, every single day. Staff morale and client satisfaction can both benefit from faster and more efficient document retrieval.
So, what are you waiting for? Turn over a new leaf with BatchMaster’s DMS and stop putting your files into a closet no less than a well.
BatchMaster’s QMS Enterprise Document Management System is a feature-rich desktop and DMS that allows you to save, create, track, retrieve, and manage all types of documents. It supports the complete document lifecycle for an organization, from content generation through distribution to archiving and, finally, secure content retention and deletion. In a nutshell, it unifies your document management requirements into a single, cost-effective system. Furthermore, it is simple to use, has a simple interface, and provides a high level of flexibility, allowing businesses of all types and sizes to use it to suit their document management needs.
As a result, BatchMaster’s Cloud based Document Management System is getting popular in businesses that want to become paperless. Want to be in same boat? If yes, ask for a demo now!