A Document Management System (DMS) is a system used to monitor, oversee, and store essential files in a business or corporation. The FileCenter DMS offers several tools for successful business operations. Time is valuable, and saving time is a definite advantage of using DMS. Faster and more effective document retrieval can increase productivity, improve employees’ willingness to work, and ensure customer satisfaction. As a software application, DMS also presents an effective solution for minimizing the use of paper.
Document management solutions can meet any company’s various needs. You and your office can benefit from document management systems and enjoy improved efficiency. Take a step today to see how document management solutions can help your business. Get to know the top eleven merits of implementing DMS below:
More office space
You don’t have to pack all of your documents into a room when everything can be saved on a software. More importantly, DMS software is reliable. This benefit is of importance to organizations with limited office space as well as to large companies who can better utilize the additional office space. With DMS, you can renounce your need for boxes, file cabinets, and storage bins. Those items tend to overcrowd the office and are not needed. The few files that cannot be saved digitally can be kept in other secure locations. Such data can be stored in less costly places, such as a warehouse or vault.
Improved safety precautions
The safety of documents is essential to the success of any company. Materials may contain business secrets and other confidential information, such as product formulas or employees’ personal information. If unauthorized persons have access to these documents, the company risks incurring business damages or statutory damages. DMS enhances the security of such documents to prevent security breaches. For example, only an authorized user can grant file-access permissions for lower-tier colleagues. Thus, documents can be monitored at the folder level for various individuals at different levels in the organization. Furthermore, an audit tracker can monitor who accessed and altered a document. Software Advice has narrated some of the best audit checker software. An additional feature of DMS is its automated warnings that track managed documents.
Reformed compliance policy
Non-compliance is a severe offense in the world of business. There are several compulsory security and privacy policies by federal and state regulations, such as Sarbanes Oxley and HIPAA. Failure to comply may result in fines, loss of licenses, and even criminal convictions. However, DMS has reduced the risk of run-ins with the law. Not all documents might meet the non-compliance requirements, but with DMS, there are no limitations. One of the features is the ability to schedule records automatically. Additionally, you can conveniently store new documents and classify them through standard forms, checklists, and automatic retention.
Retrieval made easy
This is one of the most desired components of DMS. Easy access to any document at any hour of the day simplifies the process, compared to hard-copy documents you can only reach by sifting through other files. This method wastes a considerable of time. DMS is a powerful tool that saves time. This feature is useful in the case of an emergency or urgent need of information. DMS can process documents with a simple search of a word or phrase. In other cases, a full-text search or a category of the index in a folder can be used. DMS also allows remote access to documents by searching for file names, types, subcategories, keywords, and other metadata info. Lastly, documents can be retrieved anywhere, as long as the software is connected to the Internet.
Consistent backup & smooth recovery of damaged files
Data backup and disaster recovery plans are incorporated in DMS. The software is built to withstand hazards. Paper documents are protected from fire, flood, and other catastrophes through archiving. DMS preserves files through various traceable computer program codes. Moreover, because image material is centrally stored, it cannot be lost or misplaced after viewing. Documents are also less likely to be misfiled. Should this happen, however, cross-indexing can aid in retrieving the misplaced files.
Easy transfer of files
Business proceedings usually comprise transferring documents from one company to another, from one department to another in a company, or from one employee to another in a department. With the aid of DMS, companies can offer efficient document transfers, and, in turn, accelerate and improve business activities.
When maintaining different versions of a document, it is essential that the latest version is identified. Moreover, the sequence of all current versions should be available in order to eliminate any chaos that can arise from trying to find a DMS version. DMS also provides version control, which can be used to retrieve older versions of the same document. This feature is vital if unauthorized changes occur in a document or if several parties are working on the same material.
More competitive business
When DMS improves the efficiency of your business, it upgrades your company’s status in the industry. For example, losing the financial weight of a paper-based system typically reduces cost. Therefore, you can sell at a competitive price suitable for your business.
Why spend money on paper when you can have everything you want for cheaper with DMS? Paper costs are not pressing expenses. In a paper-based system, objects like file directories, paper, ink, filing offices, filing personnel, and other items are costly. This outdated system is not as appropriate as document management software. DMS allows you to store and access your documents digitally. DMS cuts costs through its well-planned structure.
Streamlined companies understand how to use excellent business tools. Knowledge is one powerful tool that improves marketing. DMS permits software integration from third parties. It enables the user to access several useful features, including email integration. With this feature, you can easily send emails to your customers, partners, and employees at a low cost.
DMS makes sharing information easy and promotes cooperation. It allows employees to access, view, modify, and share files effortlessly. It offers access to various documents from different sources at the same time. It also enables individuals to share documents on a network via email or the Internet. However, at times, sending emails can be time-consuming. For that reason, DMS allows co-workers to add reviews directly into any document. DMS simplifies business processes and enables workflow monitoring. External users can monitor and permit authorized access. Furthermore, management can quickly see which employees are on a document and easily track file review and approval. All of these features result in greater cooperation and teamwork among employees in a company.