If you have a company that uses a lot of documents, such as a law firm, accounting firm, or really any company that relies on document creation, you should really consider document management. A document management system will offer many benefits to big and small companies from web access to a better organized archiving system. Here are 5 great reasons your company should be talking about document management.
1. More secure.
Not only do you get increased security and controls over things like document control and access, but you can set up audit trails to see who has been viewing, printing, sharing each document. If you go with a remote storage, you get encryption and a secure system that provides you with protection from hackers.
2. More efficient.
Document management systems help organize how documents are created and what happens to them. This can make an office far more efficient, as there will be set conventions for naming, storing, and sharing. It can help to improve workflow because storage and retrieval becomes easier, and there can be a set structure for creation, editing, and submission. Controls can be set for who can view and edit specific documents. In other words, there is a lot less time and energy wasted by those not involved by eliminating the need to search for or physically pass along documents and the like.
3. Cuts down on human error.
A document management system allows you to find documents that were accidentally stored in the wrong place, forgotten, deleted, etc. It provides backups and protects against things like disgruntled employees. Human error is real, and a document management system can help reduce the amount that occurs in your office.
4. Improved access.
Documents can get lost, people can be on vacation, companies often grow, and the result is disorganization. A document management system offers improved access to documents. You do not need to be on a specific computer or in the office. You don’t need to figure out the password to an out-of-town co-worker’s computer or set hoops for clients to jump through. Access and controls are set when the program is set up, and if you’re using a cloud storage system, remote access on internet-enabled computers is possible.
5. Cost-effective.
While there is upfront cost to a document management system, there is a high ROI. A 2008 IDC study estimates that an enterprise with 1,000 workers wastes between $2.5 and $3.5 million a year searching for—and failing to find—important documents. A document management system cuts that problem out, and offers many other cost saving benefits, such as the before-mentioned improved efficiency.