Documents are used by every organization, whether they come in paper or electronic form. They are essential as they contain information regarding employees, the business and their clients, so this information must be stored and managed correctly. Document Management Systems (DMS) can help collect and store your organization’s documents, and it offers plenty of benefits.
What is a Document Management Systems?
A Document Management System is software or a computer system that stores, manages and accesses electronic documentation and images derived from paper-based information captured by a document scanner. A DMS is able to reduce the quantity of paper and paperwork used by an organization while significantly improving operational efficiency.
Types of Document Management Systems
A DMS is essential for any businesses as they make it easier for all the people within the organization to manage and move information contained in documents. We will look at the different types of DMS.
1. Content Management
Content management systems are also known as web content management, and they mainly focus on creating, amending, organizing, and providing content to its user. This document management system helps organizations that publish content as they can organize all written content and operations involved, for example, seeing due dates for content and how far they are in the publication process.
2. Records Management
This document management system focuses on creating, maintaining and destroying records useful in governance, risk, and compliance. Records management systems are used in industries with governing bodies, such as legal, healthcare and government agencies.
3. Workflow Management
Automation plays an essential role in this document management system as it automates processes that are repetitive and content-based. Workflow management systems enable workers to concentrate on high-level activities, which can help manufacturing companies.
4. Document Imaging
This system is used by businesses such as construction companies to deal with images like permits as it can scan, collect and manage digital images where they are converted into digital files.
5. Enterprise Content Management
Enterprise content management systems bring data and content together. It incorporates other specifics used by the organization, such as workflows, business rules, and processes. For example, in publishing companies, enterprise content management systems include all data, which helps writers create better content.
Benefits of Document Management Systems
Having a document management system is key to achieving success in your business. Here are some key benefits that you can expect from a document management system.
1. Decreases Storage Space
Storing paper-based documents uses up a lot of space in your offices as these documents are commonly stored in file cabinets, storage bins and cabinets. By using a document management system, you will reduce your reliance on paper-based documents. Clearing up space in your offices that is used for documents that you require in paper-based formats can be stored in an offsite warehouse, which can reduce your property costs.
2. Improves Document Security
The information stored in documents is sensitive as it contains client and businesses information and your employees’ details. If this information was leaked, it could have dire consequences for your business, including a damaged brand reputation or legal damages. Document management systems can be programmed to reduce cyber-attacks and to restrict certain people from gaining access to certain documents as you can authorise people to access specific documents.
3. Data Backup and Recovery
A document management system can prevent the damage that can occur due to a fire or floods as you can store them on a cloud. This ensures that you can restore them after a disaster. Document management systems are highly traceable and ensure that you never lose or misplace documents after viewing them, as you can use cross-indexing to locate them.
4. Convenient Retrieval
Documents are kept because the information contained is crucial and will be needed at a later stage. Your business stores plenty of documents, and it can be time-consuming to search for the document you need to use, especially if you are only looking for a section in a document. A DMS makes document retrieval easy as it contains a search function where you retrieve documents using a word or phrase. You can easily retrieve the document version you are looking for. With an internet connection, you can also access these documents remotely.
5. Reduces Costs
Managing paper-based documents is expensive. You need to pay for things like ink, paper, folders, filing cabinets, staff that handles filing, and any other equipment required to manage paper. With an electronic system, you will incur additional costs like computers, administration staff, and media storage. These costs will be reduced for electronic systems by using a document management system.
6. Enhanced Collaboration
Document management systems promote collaboration efforts, whether internally or externally. Different stakeholders from multiple locations can be included in creating, reviewing, and approving documents, and they will only see the areas you have included them in. Collaboration offers external parties visibility in business processes and monitoring of workflow processes. Through version control provided by document management systems, only approved changes will appear in the final document.