No matter what type of industry you work in, document management can be a very beneficial solution for your business. Nevertheless, if you have not heard of it, you may be missing out on a valuable tool that can change your business for the better.
What is Document Management?
Document management is a system that is used for the purpose of tracking, controlling, and storing documents, files, PDFs, as well as digital images. A document management system is an automated way to secure, capture, organize, review, approve, tag, and otherwise complete content-related tasks for your business. Moreover, given that it is often managed using cloud storage, document management can allow you to maintain a vast array of files and send, receive, and edit them no matter where you are in the world.
What are the Benefits of Document Management?
Now that we have a better understanding of what a document management system entails, let’s delve into the benefits that it provides. If you are interested in using document management for your business, you can look forward to the following benefits:
- Increased Accessibility: One of the top benefits of using a document management system is that it allows for increased accessibility. Rather than having to worry about getting your hands on a physical document, you can easily upload, download, edit, and share your documents.
- Boosts Security: Another benefit of document management is that it provides a superior level of security. If you are dealing with physical documents, you have to go above and beyond to ensure they do not get into the wrong hands. This often involves situations like sign-out sheets, secured file cabinets, and even the use of security guards to safeguard sensitive information. However, by using a document management system, you can easily secure all of your documents with the help of encryption.
- Reliable Back-Ups: When dealing with physical documents, there is no real way to back up your work. No matter how many copies you make and where you store them, they can still be ruined, stolen, altered, etc. However, by using this system, you will be able to save your documents virtually, which will allow them to be safely stored for many years to come.
- Cost Reduction: Another great benefit of using document management is that it helps reduce costs. While a physical file system may seem like a cheaper investment, this is only true for the short term. Over time, you will spend quite a bit on things such as folders, file cabinets, paper, ink, postage, envelopes, and other related supplies. However, a document management system requires a larger initial investment with minimal expenses after that.
- Routing Made Easy: Implementing a document management system gives you a much faster way to forward documents to your staff members. Through document management, you can send a document to multiple people at once, and you can also forward them to individuals in sequence, allowing each staff member to view the comments being left by the person who viewed and edited them before sending it.
- Workflow Optimization: A document management system allows administrators and upper-level staff to create rules that help dictate the flow and overall protocol regarding how documents are created, viewed, and edited over time.
Should Your Business Implement a Document Management System?
Virtually every business can benefit from implementing a document management system. Here are a few reasons why your business should also consider the change:
- Easy Organization: No matter if you deal with mostly physical documents or are using computers to create data, without a proper management system, staying organized can be very difficult. However, with a document management system, staying organized is simple. You can easily store documents by title, in chronological order, the access level, and any other way that is beneficial to your company.
- Stay in Compliance: Depending on the types of documents that you’re creating, it can be difficult to stay in compliance with regulations. Given that non-compliance can lead to consequences such as revoked licenses, fines, criminal liability, and more, this is a risk you should never be willing to take. This is why it’s important to note that a document management system allows you to automate various aspects in accordance with regulatory compliance, making audits a breeze.
- Disaster Recovery: While no one wants to think about experiencing some sort of disaster, a good business needs to stay prepared for any event. Without the proper disaster recovery system in place, you can cause your business to lose valuable time and documents that can result in your business losing money, business partners, and more.
Overall, purchasing a document management system can provide your business with a wide variety of benefits. Whether you are a large or small company, a document management system is a sound investment that will bring your peace of mind for many years to come. If you need more information or are interested in implementing a document management system for your Ohio business, contact Modern Office Methods today!