Ever had a hard time keeping up with records, files, transactions, and other documents to keep your business organized?
You have bought and used pretty much countless physical materials like folders, envelopes, filing cabinets — name it. Still, it feels like your business is missing out on something that can ultimately solve all your document concerns.
You also probably have heard of document management, but you are still looking for more information about it before you finally make that decision to infuse it into your company.
Worry no more because IDMT got you covered. We have broken down 5 things that you probably did not know about document management:
1. Document Management Gives You That Freedom You Always Wanted.
Freedom is the most well-known benefit of business solutions, yet one of the hardest to find.
How exactly can document management solutions give your business freedom? It is from the control and organization associated with going paperless.
Without a document management system to secure, automate, and potentiate documents’ value as critical and high-value assets to an organization, the important information in these business documents will not deliver its full value.
2 – Document Management Give Enhanced Security.
Document security is crucial for business, no matter how big or small an organization is, to keep sensitive data protected.
Data and document management systems provide better control over sensitive documents. It can also give access to documents with control at the folder level for different groups or individuals.
It also gives an audit trail — to see who accessed the document, when it was viewed, and how it was modified. Everything is traceable and can be tagged to send alerts whenever accessed.
3. Document Management Helps Your Business Comply with Regulations.
This is true to its every sense. Compliance requirements for some documents can be quite complicated. Non-conformance can lead to penalties, fines, license revocation, and worst case, criminal liability.
To comply with strict privacy and security protocols, the document management system reduces the risk of non-compliance by having a well-organized data and storage classification.
4. Document Management Gives Your Business More Money.
How so? Searching for and retrieving documents can be very time-consuming. As we already know, time is money. In fact, according to studies and statistics, organizations spend $20 in labor to file a document, $120 to find a misfiled document, and $220 to reproduce a lost file.
All these can be accomplished with the document management system without spending that money. Aside from its document-sorting power, easier integration with business applications facilitates access to critical information. You can even access everything remotely — No need to spend money to travel to get and sort out documents.
5. Document Management Saves Your Business During the Hard Times.
Data backup and disaster recovery are protected and possible with data and document management system solutions.
Centrally storing imaged documents cannot be lost nor misplaced after viewing. Documents can even be digitized and archived at their point of entry into the system.
These are just a few out of the many more features of Document Management Business Solutions. It is a promising development, and you are always welcome to reach out to us for a FREE DEMO.