Are you bogged down by the seemingly endless task of sorting and organising papers? A document management system benefits your business on multiple levels. From streamlining workflows to ticking all the necessary compliance boxes, it is core to dotting the i’s and crossing the t’s of successful operations.
Did you know that about 45% of small and midsize companies still use paper records? And, roughly 11% have no document management system whatsoever? These numbers are astounding given the technology at our fingertips.
An effective document management system is an essential part of your business’s toolkit. It not only works behind the scenes to boost your competitive edge, but also helps with financials and processing to ensure that everything runs smoothly from start to finish. Let’s take a closer look at the various benefits of a document management system.
What is a document management system?
A document management system (DMS) digitally stores and orders documents. Think of it as your business’s digital library where you keep all your records. It is the hub where you store, retrieve and file information.
Investing in document management software improves collaboration between departments and between your business and customers. It gives you quick and easy access to data, and it reduces financial stress by boosting efficiency. In combination with sound document management best practices, this system is a solid business support pillar.
Benefits of a document management system
1. Reduce costs
When it comes down to pennies and pounds, a digital document management system has the edge over a paper-based one. The first demands less physical storage space, labour, and materials such as paper (of course), files, shelves and boxes. That means reduced operational costs.
Plus, in a paper-based system, human error creeps in and leads to issues such as misfiling, regulatory missteps, wasted resources and more expenses. In a digital document management system, your data is in one place – a streamlined server that needs hardly any space, as opposed to room upon room filled with row upon row of piles of paper.
2. Optimising workflow
Digitalisation streamlines workflows by making it much easier to track and share information. With document indexing, you can find the information you need in a jiffy. This speedy access to data improves cooperation between different divisions or zones in your company, which means better efficiency across the board. Just think of the document management benefits in a paper office. It saves employees from running up and down to find documents and makes ‘filing’ a breeze.
With information at your fingertips, you can resolve customer queries much quicker. This leads to better client relations, which, in turn, boosts your company’s reputation and bottom line. It also opens the doors to AI possibilities, such as automated query resolutions, which give efficiency and collaboration even more of a leg up.
3. Disaster planning
Disasters, such as fire and floods, can destroy or damage paper documents. However, if all your company’s data sits in the cloud, it’s not only safe but also easy to retrieve. Immediate access to crucial documents after a disaster strikes is one of the top benefits of a document management system.
Your confidential and sensitive data is safe. You can immediately get to your insurance documents to speed up claims and repairs. And, just as important, your customer data is untouched, which means that you can get back in the game much (much!) quicker.
4. Automating procedures
Automated procedures are an ever-evolving document management benefit. Clever algorithms and AI empower you to automate simple tasks, such as answering the phone and channelling calls to the right department or person.
An automated process curbs human error and speeds up day-to-day operations. It frees up time to attend to more important or complex things. And, it helps with smoother communication between workers and clients.
5. Implementing structure
With a document management system, you can find information in a flash. Filters and targeted searches deliver exactly what you are looking for in no time at all. In tandem with strategic indexing, it makes the tedious and time-consuming hunt for data a thing of the past.
A document management system is the ultimate space saver. Think of rooms stuffed with shelves, files and boxes, and capturing those mountains of data on one slimline computer server. A paperless office not only saves space, but also makes reorganising and reattributing a cinch.
6. Identifying business requirements
Identifying core goals and the changes your business needs to achieve them is essential for effective strategies. A document management system is like having your eggs in one basket – easy to count, easy to identify gaps, and easy to refine goals and strategies.
It is transparent and breaks down the walls between departments to boost productivity and communication. In short, your document management system is a powerful tool that you can embed in your document management strategy to improve efficiency.
How can I get a document management system?
Are you staring at a mountain of disorganised paper and files, and wondering how in the world you get all that into one streamlined document management system? That’s where Shredall SDS Group comes in. Our cutting-edge document management software equips you with a simple and affordable solution to capture and store information.
It gives you 24-hour, instant access to your documents from anywhere in the world. It is a virtual safe where you control who retrieves information. Digitising documents speeds up everything, from queries and interdepartmental communications to financials.
Streamline your operations and get in touch with Shredall SDS Group today.
