Documents are the most important parts of all kind of businesses. They must be stored and organized in a way that they can be retrieved quickly whenever required. It is also important that they are managed well and kept with full security. These all cannot be done without a dedicated management system. And, there comes Document Management System into the use.
Although, these documents may exist in paper or electronic format, it is in a company’s best interest to utilize a Document Management System to ensure its intellectual property is protected. A DMS allows you to create, store and track documents electronically in a safe and secure environment.
An important aspect of a DMS is its ability to capture data and manage or index this information in a manner that the storage, distribution, and retrieval are quick and easy. Also, once documents are stored electronically, information can be easily accessed by multiple users from any anywhere at any time.
Another key feature of the Document Management System is the ability to store documents securely. A DMS is capable of storing documents from a variety of formats, sizes, and file types. Certain web-based document management systems may require documents to be stored on databases or servers. While other Document Management Systems may require optical media like DVD or CD to store documents. Still others may store the information magnetically using microfilms. Previously, processes like imaging and scanning were needed to store documents in the relevant media. Now, there are document imaging software programs that can perform these processes and conversions easily and efficiently.
Records management is not just the storage of documents; it also ensures the added benefit of smooth workflows. The time saved in sorting and retrieving documents in paper format can cause expensive delays to business processes. Also, Document Management Systems are programmed especially as per business type and require that the processing of information is done in accordance with the format of a specific workflow.
In addition, the method of storing information electronically improves the efficiency of retrieving and sharing documents compared to manually storing and searching for paper documents in filing cabinets and drawers. Documents that are stored electronically in a DMS can also save money by reducing unnecessary storage space costs of having to store physical documents in filing cabinets in warehouse facilities.
With a DMS, any authorized user has the ability to access information from the document repository anywhere at any time. The authorized user can access this information almost as soon as it is stored, hence multiplying the efficiency business processes.
An Electronic Document Management System that is accessible either through internet or intranet helps organizations have immediate access to their intellectual property or improves the process of sharing and circulating information.
Manual file management can be costlier, and there are more chances of getting human errors as well. Document retrieval is not easy in Manual Document Management, and this is not centralized as well. It can be only retrieved from one location where it is kept.
But, when you work with Electronic Document Management System, you save cost, time, and human labor. The retrieval process is very easy, and the documents can be accessed by any authorized person at any time from any of your company’s branch. Retrieval is easier because the indexing of document is done in a good manner to ensure the fast accessibility.
One of the best benefits of having a DMS is the safety. Yes, the documents can be protected by passwords that can be accessible only when someone enters the right password.
Therefore, if you are running a business that needs a lot of documentation and paperwork, then do have Document Management System within your company to manage the documents efficiently and in a cost-effective manner.