Document managements role in information management 2.0 is both impressive and necessary. After all, documents are a store of value–making them much like legal tender for information-oriented professionals.
There is no lack of information in today’s electronic world. However, it can be challenging for organizations to harness the huge volume of information they create, store, and edit on a daily basis.
The good news is that document management software meets the growing demand for information management.
Document Managements Role in Information Management 2.0
Decades ago, information wasn’t easy to get. But with the internet, we are now in an age of information overload. The problem is that too much information is just as harmful as not enough information.
Of course, the real issue isn’t the volume of information but the fact that the information is unstructured and cannot be managed effectively without technology.
Information management 2.0 is a term that is used to describe the demand for information management on a global scale. When it comes to managing information, document management software (DMS) plays an integral role.
First of all, DMS is a premier tool for small to mid-sized organizations that are in need of better information management.
Second, the sheer volume of information can no longer be managed effectively without DMS. Finally, humans can no longer manage information better than the technologies designed to do so.
So what is part of information management?
The biggest and most noticeable part of the movement is the journey to a paperless organization. Many companies are discovering that using paper is holding them back.
Electronic document management is cost-effective, environmentally friendly, and easy to administer. Organizations that leave paper behind often find that productivity and employee satisfaction increase when doing paperwork is a thing of the past.
In order for information to be useful, it has to add value to the organization. Information that can’t be found, is difficult to locate, or can’t be viewed in a meaningful way isn’t useful.
For example, if your organization merely collects invoices from previous years in your filing cabinets, then it would be difficult to use the information on these invoices to make better decisions for the company.
When you put the same information in electronic format, you can compare expenses line by line, year by year, and vendor by vendor and detect a trend. Your information is now searchable, usable, and therefore more beneficial to your organization.
It’s fine to collect information and store it, but most documents don’t need to be kept forever. Part of managing your information is to create document retention rules.
At which point do your files get archived, and at which point are they destroyed? Document management software will automate document retention for you so you don’t even have to think about it.
Every organization is concerned with employee productivity. Two of the least productive things your employees could be doing are paperwork and dealing with emails.
With document management software, they don’t need to do either. You can use workflows to increase employee productivity. And at the same time, employee morale will improve because they’re no longer doing meaningless busywork.
Another big part of information management is mitigating risk. Collecting information can be risky if it’s allowed to get into the wrong hands. Document management software helps you limit access to certain files with user-based roles and permissions.
At the same time, it’s important that your company doesn’t collect information it has no business storing in the first place.
Staying Compliant with Rules and Regulations
Your company needs to stay in compliance with all applicable rules and regulations for its industry. Depending on what type of business you’re in, this can be a huge challenge.
When it comes to document management and retention, your organization can use document management software to ensure compliance.
Of course, being compliant often requires businesses to provide documentation for the appropriate authorities. With DMS, you can be sure that your documents don’t get lost or misplaced because they can easily be found with a few clicks on your computer screen.
With DMS, when you need to share information securely with customers or clients, you don’t have to incur courier expenses in order to remain compliant. eFileCabinet allows you to share documents securely and instantly via the client sharing portal SecureDrawer.
Find Your Documents Easily: The Best Component of Document Managements Role in Information Management 2.0
Document management software makes it easy to find your documents quickly. Finding information presents one of the biggest challenges companies have to conquer.
Fortunately, document management offers the technology to do this. There is simply no way that humans can do it faster. This is especially true when you’re searching the text inside of specific documents, because that normally requires hours of reading.
The large volume of information that companies have to deal with on a daily basis requires companies to set policies and procedures on dealing with this information. “Information governance focuses on what a company should do to manage its information—and how it should do so.”
Information governance covers everything from document creation to editing, sharing, retention, and document destruction. Your corporate governance program will also designate several people in your organization who will be held responsible for information management.
Document management software will continue to play a huge role in information management. DMS is simply the most effective way to handle the information your organization is in control of.
eFileCabinet makes document management easy to use at every level of your organization. If you’re ready to make a positive change in your organization and work in a way that streamlines growth potential for your business, reach out to us or contact one of our business efficiency experts.