No matter the industry you’re in, your biggest asset today is your information. This information can be unstructured or structured data in the form of documents. These documents are often the basis of most corporate decisions, business evaluations, and transactions of all sorts.
Because documents are your biggest asset, a Document Management System becomes your most essential and critical tool. While many focus on the complexity of the capabilities behind such solutions, others fail to recognize their benefits.
Why is document management important? Below are the top 5 benefits:
1- Maintaining the Security of your Documents
Documents within your company may contain a lot of compromising information, such as confidential business data, or customer information protected by the GDPR. Document Management Software allows the protection of documents by issuing authorized access to designated key personnel and audit trails, protecting documents from unsolicited access or leaking. It also protects the documents electronically on the platform, compared to paper-based documents that can be lost or damaged in storage units and unmaintained archives.
2- Enabling Simplified Collaborations
DMS Software can allow access to different documents from different locations from the same platform using blockchain technology. It can access silos and allow third-parties limited access to create, review, and approve documentation to the extent they are provided power. Collaborations are simplified by gaining real-time access to documents, and the ability to track versions and collaborators. It also allows off-site employees and personnel to have the same access to documents, capabilities, and privileges.
3- Convenient Information Retrieval
Searching for and retrieving paper documents from filing closets and storages, or even just from drawers can be a tedious and costly task. Many documents get lost or damaged, and the majority of the time (50%) personnel are busy searching for a file, compared to the time (15%) they spend reading it, according to the latest facts by Gartner and AIIM. Thus, Document Management Software not only helps with proper retrieval, but also saves precious executive time by finding documents based on their generic name, type, or even from document content.
4- Improved Classification
DMS Software allows documents to be classified and stored within a central repository. Using a plug-in architecture, you can apply specific compliance rules that allow you to automatically categorize your documents. DMS can reduce the risk of bad filing and loss of documents by moving documents to a new location, creating labeled folders,
building a hierarchical system for directories, and indexing documents.
5- Increased Efficiency
Finally, most benefits of a good DMS system can be summed in one word “Efficiency”. DMS Solutions can help companies access documents from anywhere within their corporation or any included third-parties they are collaborating with. Documents can be accessed with swift and precision without the cost of archives, document maintenance, and all the wasted time searching for information, files, or specific data.
If you’re now aware of the importance of having tools to automize the governance of your documents, and enterprise content services and are interested in knowing the ins and outs of the Intalio Document Management Solution, you can register to watch our upcoming webinar on Document Management Systems and the Challenges of Organizations.