5 Benefits of Implementing a Document Management System

It seems that for as long as there have been documents, organizations have been trying to manage their storage and retrieval. Managing business information, sometimes from several sources, can be a challenging task. Having a Document Management System (DMS) in place can help to facilitate and streamline the handling of documents such as how they are created, shared, organised, secured, accessed and archived throughout your entire organization. This can vastly improve your organisation’s productivity.

A good Document Management System is a key tool in helping your business achieve greater results. Here are 5 benefits of a document management system.

Easy Retrieval

A document management system can be a powerful, time-saving tool. A DMS allows users to search for documents by name, reference number, keyword, or even by the content of the document. DMS also gives the user the ability to access documents remotely and digitally without the need to travel to the office and going through stacks of physical documents. This saves user’s precious and valuable time.

Document Security and Audit Trail

Document security is critical for any organization. Document management systems provides the ability to encrypt documents and assign levels of security to each document, which can be controlled at the document level or furthermore into the field level of the document for different groups or individuals. A DMS can also track each retrieval, recording who has viewed the contents and applying a time stamp for auditing purposes.

Improved Regulatory Compliance

Government regulations require company to keep a record of different kinds of data and documents. Depending on the industry, the requirements for many compliance certifications can be complex and daunting. Non-compliance can lead to fines, revoked licenses, and in some cases legal liability. Having a good DMS will mitigate this risk and help ensure compliance with the regulations, so that the organization will be able to track on the compliances and act proactively.

Reduce Costs

A DMS can help organization reduce costs by reducing the operation costs of storing of the documents, maintenance of the documents, search and retrieval of the documents, printing of the documents, delivery of the documents, and more. Implementing a DMS can also help the organization to be more environmentally friendly, as the DMS allows the organization to move towards becoming a paperless office.

Central Repository and Single Source of Truth

With DMS, documents can be kept in a central repository. A DMS prevents versioning issues that can occur when multiple users store and edit the same file on their own in various locations. A DMS ensures that everyone who is authorized to work on the file, is working on the latest file and providing the users a single source of truth that they can rely on.

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