Every business has a lot of documents that they need to keep in perpetuity. They also choose to keep many that they may not need, just so they have the information to serve their customers better. Traditionally, this meant manila file folders with a bunch of papers representing all the information and contracts that a particular customer has. This could be a little as one file cabinet, but for some organizations, a warehouse is needed. Technology now allows an organization to safely store all of their documents in a secure data center.
The document management system (DMS) is the modern business’ answer to the filing cabinet. Instead of having to file physical documents away in a file cabinet, they are scanned and stored in a database. The DMS gives you much more control over your business’ documents and provides a lot of options that can help you be more efficient and secure with your documents. Let’s take a look at a few ways that the DMS can help your organization:
There are a lot of regulations out there and your business likely falls under a handful of them. Staying compliant will always require data security. In fact, some of these regulations are pretty complex. Many times, businesses will have to invest more capital than they would like just to keep antiquated file storage systems secure enough to meet regulatory requirements. Not only do businesses that take advantage of document management get a more secure platform in which to keep their files, they also make meeting compliance requirements simpler by improving the transparency and control of files stored in the system. Some more complex DMSs will allow for visual data flow of documents which provides a level of risk management that auditors will love.
When your documents are stored in a repository they are better protected from theft. The DMS does a great job at minimizing the risks associated with cyberattacks by creating an extra layer of security and control. Since a cloud-based DMS is maintained and managed by the DMS provider, the underlying technology is protected. Additionally, in the case of a disaster, all of your data will be available to remote teams so that your business can effectively continue as you get your brick and mortar locations back up and running.
Printing and file storage comes with some pretty large costs. Not only do you have to print all the documents you plan to file, but you’ll also presumably need a backup. This redundancy doubles your expected costs. If you consider that it costs almost $20 to file one document and over $200 to reproduce a lost document, removing these costs completely is ideal. With a DMS, you can do just that as files are available around the clock to any number of users.
The one benefit that installing a DMS is sure to pay off fast is the ability for any user on your team to easily file and retrieve documents in the DMS in seconds. The more available your files are the faster business can commence, enhancing your staff’s ability to be productive. The enhanced efficiency in the filing and retrieval of documents allows your team to do more with their time. Documents are always available, simple to search for, and available for retrieval from almost any device, including mobile devices.
The document management system is an extremely valuable tool that can transform your business. Give us a call at 978-482-2020 today to speak to one of our consultants about the benefits of deploying a dedicated DMS and how our knowledgeable technicians can help do just that.
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