Many businesses still use literal paperwork. Maybe they don’t realize we’ve moved well into the digital age. The problem is that keeping up with paperwork is challenging. This is especially true since businesses are under pressure to do more with fewer resources. Also, business office staff indicate that about 83% of their documents have to be recreated just because they were lost. A document management system and business automation processes can give you back control. Our solutions help you manage high volumes of data and paperwork efficiently and securely.
What is a Document Management System?
Document management systems (DMS) organize and handle your documents. They help by making capturing, saving, securing, and retrieving documents quick and easy. You use it on a daily basis to keep documents and information organized and accessible. Document management software simplifies the process. It lets you combine both paper and digital files and put them in one location. Any physical documents can be stored digitally now. Even physical papers like business cards and checks. Just scan the documents and store the digital format in the software program. Additionally, a DMS supports all the major file formats like Word docs, Excel sheets, PowerPoint presentations, and PDF files.
Benefits For Businesses That Adopt a Document Management System
Why should you choose to use a cloud-based document management system? Firstly, your business benefits from convenience in many ways. Secondly, you do your part to help protect the environment by reducing pollution and waste. Along with these benefits, there are some specific benefits for your business.
One Location for All Your Docs
When you have a single place to store and access your documents, it reduces the risk of errors. But it also helps eliminate misplaced documents. A document management system streamlines the process of controlling documents. It provides easy storage and retrieval options. The DMS prevents lost documents by using an automatic backup feature. When you know your documents and sensitive information is protected, you’ll enjoy peace of mind.
Structure and Organization
A document management system provides a systematic approach for managing all your documents. You can use tags, metadata, categories, and subcategories to store your documents. It’s an organized system so it’s easy to organize, store, find, and retrieve your documents. Making a simple search gives you the results you are looking for in a matter of a few seconds.
Your documents are better protected when they are stored in one place. A DMS minimizes risks from hackers and cyber-attacks. This is because the system provides built-in security measures. No matter what size your business is, you can benefit from having your documents stored and backed up electronically. If there is a natural disaster, your documents and sensitive information remain safely stored in the cloud.
Paper documents make it more difficult to know which is the latest version. Papers get shuffled or misplaced easily. In a DMS, documents are updated so that you always see the latest version. When revisions are made, it becomes the most current version. Only the newest version can be edited, while former versions are still accessible. This allows you to create a much-needed paper trail.
Meeting Compliance Mandates
Many documents need to be kept on file to meet quality and compliance mandates. Having an automated process helps you meet these types of requirements. You also save off-site storage fees. In addition, you eliminate time delays that often occur trying to access records from a third-party storage provider.
In conclusion, a document management system increases efficiency on many levels. A DMS saves you time as well as money. If you are ready to experience an intelligent way of managing information, sign up for your free 30-day trial of M-Files.