Almost every business relies on documents every day. Managing that information can be a time-consuming challenge, especially if it’s coming from multiple places. Whether you’re a small business or a large enterprise organization, a document management system (DMS) that can capture, store, search, and retrieve documents with the push of a button, can offer you multiple benefits!
Here are some of the key benefits of an electronic DMS.
• Save Storage Space
Paper documents take up a lot of valuable office real estate. A software-based DMS eliminates the need for file cabinets, storage boxes and document bins. That frees up valuable office space!
• Enhanced Security
Protecting your sensitive data from prying eyes is job one in today’s office. DMS provides enhanced security for proprietary or sensitive data. Document access can be controlled at the folder level and with a DMS you’ll have an audit trail – so you’ll know who accessed a document, when they viewed it, and what changes were made. Managed documents are trackable, traceable, and tag-able.
• Easy Compliance
If your business is in healthcare, patient care, or the legal industry for example, regulatory compliance is a complex and necessary legal issue. Non-compliance can result in big fines, license revocation, and even criminal liability. DMS reduces those risks and makes compliance easier. Record retention schedules and compliance reports can be automated, and new documents can be easily classified and securely stored.
• Faster Document Retrieval
It costs $20 to file a document, $120 to find a misfiled document and $220 to reproduce a lost document. A DMS can be a powerful time-saving, cost-cutting tool. Documents can be searched for and retrieved by category, using a word or phrase, or more. In fact, as long as you have an Internet connection, you can access the documents you need from anywhere, anytime.
• Backup and Disaster Recovery
With a DMS, and an automated backup and disaster recovery plan, your documents are protected from fire, flood, or natural disaster. If disaster should strike you can be back up and running in just hours, not days.