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Why is a Document Management System a “Must Have” Business Tool Today?

Documents are an essential component of any organisation, whether they are electronic, or paper based. The documents arrive into the business in many ways, shapes, and forms from a myriad of sources. Managing them can be a real challenge. Regardless of the size of your business, a document management system (DMS) can be hugely beneficial to assist in capturing, storing and retrieving documents, giving your business an edge when it comes to customer service.

  • Storage Space – reduced

Property costs are expensive and renting space to store paper documents is inefficient, especially where they are off-site. A DMS not only saves you valuable time but is a real alternative to storage rooms, filing cabinets and boxes. What’s more, rooms taken up with storage are able to be converted back to additional office space, or, if surplus to requirements, rented out to generate income as opposed to being an overhead cost.

  • Enhanced Security

Security of documents is critical in today’s business environment, and sensitive data related to your clients and your business must be protected. With Docusoft CloudFiler, it is possible to control document access for different groups or individuals at a folder level. The software also provides an audit trail of when and by whom the documents have been accessed across the board.

It is also possible to tag documents and automated alerts sent when accessed.

  • Improved Compliance

Compliance legislation can be complex for many types of documents. Non-compliance can be a criminal offence, with the risk of fines, revoked licenses, and in worst situations, loss of clientele and the business itself. GDPR has some strict security and privacy guidelines. Software based DMS reduces the risk of non-compliance, with the ability to categorise documents when storing and invoke recording retention schedules.

  • Ease of Filing and Retrieval

It will come as no surprise that many hours can be wasted searching and for a file saved somewhere in your system. Despite good intentions, systems such as a typical Windows filing structure can lead to multiple locations being created and multiple versions of a file, which may be edited by different people. With DMS, there is one source of the truth – but with version control built in to recover or view older versions of that document if necessary. Locating a file can be by way of a filename or part of a filename, by type, or by some of the content as files are optically character read at the time of saving. This reduces the time for retrieval dramatically, and it is possible to deal with queries instantly rather than have to retrieve paper files (which may or may not even be in the office location) and telephone someone back.

With integration to the major common business applications – Word, Excel and Outlook -the DMS allows you to file documents directly from within these products. Indeed, any file of any type can be saved to the DMS.

Docusoft Cloud mobile application allows users, employees and business owners to access documents remotely from multiple locations just as long as there is an internet connection.

  • Improved Collaboration

Information sharing and collaboration is made easy with DMS. The electronic imaging option makes it very easy to share documents via email or the Internet from almost anywhere. DMS allows better workflow monitoring and provides greater insights into business processes and methodologies. External users access can be monitored and restricted and controlled as necessary.

  • Backup and Disaster Recovery

The ideal scenario is an effective data backup and disaster recovery plan, which is possible with document management systems but nigh-on impossible with paper-based documents. Paper storage files are susceptible to natural hazards such as fire, flood and earthquake.

  • Conclusion

Key aspects of a DMS are:

  1. Flexibility as regards saving and retrieving documents
  2. Significant time savings
  3. Cost savings
  4. Improved rapport with clients and staff
  5. Peace of mind for business owners – secure data

Arrange a free demo with Docusoft today and find how a tailored document management solution can improve your processes irrespective of the size of your business.