With the rise of formalities and processes in the IT business, documents have become vital in any enterprise. It doesn’t matter whether you manage your documents using papers or electronically. One thing is for sure, and managing business information is daunting.
Irrespective of the nature or size of an organization, managements are quite biased towards paper-based document maintenance. This not only consumes more time and energy but is also prone to a plethora of errors.
And specifically, IT companies, who work with multiple clients and projects, should actually streamline their process digitally. But most of them haven’t moved beyond spreadsheet or Excel.
Spreadsheets also come with limitations and complexities, which makes it a bit difficult (easier than paper) to track a particular element.
To tackle exactly, this problem, the document management system (DMS) was introduced. DMS captures, stores, and retrieves the document. It basically gives the best of both worlds as it works with both paper and electronic documents can offer multiple key benefits to your organization.
If you are still confused about investing in a DMS, then let’s have a look at some of the key benefits of using a Document Management System.
- Reduced storage spaces – Commercial property costs and management expenses are increasing dramatically. And in order to store your paper documents, you need space, which again does not come free. In that case, investing in a software-based DMS might be a wise choice. As it can dramatically reduce the need for file cabinets, boxes, and storage compartments, saving a handful of expenses.
Moreover, it also frees up your office space and makes your room look more vital. Also, with DMS, there’s no need to maintain a vault or a warehouse.
- Enhanced Security – Let’s face it, the document contains critical information about you, your customers, clients, stakeholders, employees, and whatnot. This increases the need for security regardless of the size of the data. DMS are designed to provide better control over such documents and give access to the documents that can be controlled in sync with the folder. The best part is that a DMS is a user-based platform that allows you to add different groups or individuals for better collaboration.
Furthermore, the DMS maintains transparency as to who viewed a document, when was it last accessed, and the modifications made. Overall, in terms of security, the DMS makes it highly traceable that leaves no loose ends.
3. Improved regulatory compliance – Some complex documents require certain compliance requirements. If you neglect this, it may lead to fines, licenses, and even criminal liability. Some regulatory bodies, such as Federal and state regulations, decree strict privacy and security guidelines. So, in order to abide by that, the urgency of DMS kicks in. Going paperless reduces the risk of non-compliance up to much extent.
4. Easy to Retrieval – Converting to the paperless office makes it far easier and time-saving to search for and retrieve the needed documents.
According to a statistic, a typical organization spends $20 in labor to file a paper document and then $120 to find a misfiled document—the high cost for nothing.
To make it worse, 7.5% of the paper documents get lost, whereas the remainder 3% get misfiled.
Paperless Office Solutions are a powerful time-saving tool to combat such losses. DMS’s robust functionality can retrieve files by a phrase in a document. Furthermore, it allows us to integrate with other business apps remotely making remote access possible.
5. Better collaboration – IT organizations demand better collaboration among the teams. Paper-based documents are shareable, and collaboration will make it more confusing. Paperless office strategy makes collaboration a lot easier. Paperless technology, in this case, the Document management system makes sharing documents via email and other networks. Also, it provides a greater perception of the business process, helping in better monitoring of workflow.
6. Disaster recovery – Disasters are uncertain, and backups have become an imperative part of data storage services. Paper documents are not safe from water and fire. Converting to a paperless office delivers you with digital archiving as a backup, making it hight traceable.
Unseen Benefits of using doc management system:
- Flexibility – IT organizations must be flexible with their management for the smooth operation of their business. DMS tool ensures this flexibility by improving productivity and better control. For instance, you can make desired changes to your documents as per the client’s requirement without relying on any extra tool. Moreover, you can manage your documents from anywhere, any kind of device, and online and offline both.
- Improved client relations – IT organizations thrive on client relations. The smoother the communication, the better the relationship. And better the relationship, better the business. Paperless Office Solutions cuts the crap and increase client satisfaction by decreasing faster response time. For instance, it helps you handle customer support requests without much effort.
Moreover, the effectiveness of this software-based solution boosts the morale of the staff.
- Peace of Mind – Sounds spiritual, but the less trash you manage, the better you focus on other important stuff. In an era where security breaches, data theft, and information leaks are increasing, the document management system helps to keep information safe from outside evil forces. Despite improved transparency, the advanced encryption methods let you relax.
To wrap up the paperwork, take the initiative, and consider investing in a robust document management software now. As an IT organization, in 2020, automation should be your key focus, and going paperless should be the first step to do so.