There are many digital solutions for business that can help us maximise productivity. Still, one that can radically change the way you operate a business or perform your tasks is a document management system. 90% of all business information is stored on documents, indicating that digitisation of our document storage and processing systems can have massive implications on the company as a whole.
The Benefits
There are many benefits to a digital document management system. Here are the three main ones.
Increased collaboration
Document issues cause over 21% of a company’s daily productivity loss. By digitising the business document management process with the use of cloud-based systems, employees can share documents and collaborate a lot easier.
For instance, two staff can pass documents to one another and even edit them together without having to print documents. This allows for more back and forth and less cost and time spent getting documents like contracts, proposals, reports, or project briefs done well and done right.
Lesser costs
Speaking of lessening cost, that’s another benefit to having a document management system on its own. A business can spend hundreds, if not thousands of dollars a year, printing out documents. It will most likely be the same for your company, and you’ve probably re-used scratch paper to save a dime or two! But what if one could lessen printing or even eventually eliminate it? It would help reduce printing, paper, printer maintenance, and other costs.
Improved security
Time and time again, companies have faced issues with documents leaking out to the public, whether in printed or digital form. Cloud-based file storage systems can be great, but a simple digital folder lacks the necessary security to protect company files. A document management system can be perfect when passing sensitive and confidential documents like financial reports, internal contracts, meeting minutes, and so on.
Digital document management software helps curb data theft by putting necessary rules and regulations to ensure that only authorised staff can access certain documents. Companies can even add automated tiers that determine what level of clearance a staff member might have when accessing documents online.
