How do organizations big and small benefit from a good document management system? We’ll start with a reminder of what a digital document management system is at a high level: a software solution which indexes all the information and documents of an organization. It’s important to reiterate that, these days, there are solutions for any size business, as there are web-based, cloud, or in-house solution architectures. So, here are some of the main benefits a good document management systems can provide:
- Company-wide standardization
- Reduction of the cost of printing
- Reduction in time and cost for distributing documents
- Reduction of the cost of storage– (Studies show paper accumulates annually at a rate of 22 percent for the average business, which means it doubles in volume every 3.3 years!!*)
- Tracking and improved document version control
- Instant access to information– (Studies have found that without effective document management, an employee spends an average of 18 minutes searching for a document!!*)
- Improved document and information security– (Think about this: At any given moment, up to 5 percent of an organization’s files are currently lost or mislaid!!*)
- Decreased need for internal emails and communications
- Streamlined document workflow processes; no more bottlenecks!
- Improved green credentials through reduced ink and paper usage
- Ease of regulatory compliance
- Remote access to documents
- Everything is backed up in case of emergency– (Another scary stat: If their paper-based records were destroyed in a natural disaster, 7 out of 10 businesses would fail within 3 weeks!!*)
- Automatic retention policies
- And more!!
I don’t provide Document management solutions myself, but my clients do! If you’re interested in knowing more, I’d be happy to connect you with someone who can help bring significant value to you business through Digital Document Management.
Stay humble, grow stronger!
Steven
*Statistics taken from DocuWare.com