Document management software isn't new, and it has evolved significantly over the years. In the beginning, document management was nothing more than scanning your documents and then using key terms to search for those documents. Today, document management software allows for so much more enhancement in your operational flow.
In a recent blog post, we talked about the 4 Reasons to Go Paperless. The reality is that without document management software, you'll never truly realize those benefits.
1. Simplify Complex Workflows
Today, at its core, document management software is meant to simplify your workflow. Not only are paper workflows complicated because documents have to travel in a linear fashion (i.e., two people can't be working on the same document at the same time) but the same thinking can create challenges in digital workflows. If you have multiple approval points or multiple touchpoints, document management software can allow you to create efficiencies and checkpoints to allow for a smoother flow of document traffic.
2. Integrate Your Business Systems
In the early days of document management technologies, systems were not interconnected. While it simplified some processes, it created complications in new areas. Software today can use APIs to connect with one another thus creating efficiencies across multiple areas of your business.
3. Increase Document Retrieval Success
Employees can spend as much as 40% of their time managing non-business critical documents. That's looking for documents, processing documents, transferring documents, etc. In fact, in some cases, employees spend as much as 20% of their day just looking for lost information. Document management software can allow you to increase retrieval success and save on document management time.
4. Protect Your Business from Unforeseen Disasters
What would happen if your paper documents were destroyed in a fire or flood? What about the backup procedures on your individual desktop computers or network, how are they working? While some of these issues can be mitigated by network backup solutions, a tightly built document management system can allow for mitigation of lost documents in a disaster. Your paper documents most likely don't have a backup.
5. Tighten Your Security on Sensitive Documents
Likely the biggest advantage of a document management system is the ability to control sensitive documents. On a network drive, you can prevent access to documents based on folders and users. In a document management system, you can even add access controls that track access, track changes, and control access based on elements that could change dynamically.
Bottom Line
In the end, there are many more advantages to document management software. These are just the top five. There are likely more that would apply to your business. Schedule an assessment with us, and we can walk you through the options to see what might fit for you.