Top 4 Benefits of Implementing a Document Management System

Almost every business has a significant number of documents pass through their system on a weekly basis. Some of the information is more important than others, but having an effective system of managing the files is essential for a business to run efficiently.

Many companies think that seeking document management consulting is an unnecessary use of its money. However, the benefits of implementing a document management system (DMS) far outweigh the cost and can often save money in the long run. Here’s how a DMS can help your business.

Document Management Solutions Support Digital Security

Technology continues to progress year after year, and the importance of security grows with it. Your company’s documents and the documents of your clientele can contain very sensitive information including personal data. Any breach of this security can result in a loss both financially and reputably.

In 2013, Yahoo had a data breach affecting 3 billion users. In the end, the company was sold to Verizon in 2017, and it is estimated that the company sold for $350 million less than it would have without the breach. Digital security will continue to grow increasingly important, and a DMS is designed to manage and protect all data sent into the system.

Reduce Overhead with a Document Management System

By integrating a quality DMS, you can significantly reduce overhead with the accessibility it allows. A good management system allows all authorized users to access the necessary documents from their phone or computer at any time.

This will greatly reduce the need to print documents, have paper filing, pay couriers, and hire people to manage paper files. A digital system can get the data instantly where it needs to be without using exhaustible resources.

How a Document Management Solution Improves Government Compliance

Extensive rules and regulations have been put in place by the government regarding the proper management of information. Failure to abide by them can result in fines, and in some serious cases, a business shut down. A high-caliber DMS ensures that you are taking the necessary steps to stay compliant and continue to update you as regulations change.

Keep Track of Your Version History

One of the common misconceptions associated with a DMS is that the lack of hardcopy means any authorized user can edit the document, and some of the original information can be lost. The good news is that any reputable DMS company with have version histories available for all documents.

This means that every time a document is edited, the previous version is saved and accessible to anyone who may need it. The system will also track which user made the changes. It is much more difficult for accidental text deletion and intentional data manipulation to occur with version history in place.

Don’t get left in the past with an inefficient and insecure document filing system. Start improving your workflow and decreasing your overhead by integrating a DMS. If you have questions or are looking for a DMS consultant, Bits and Bytes Consulting is a document solution company that specializes in digital imaging. We’d love to be a part of helping your business grow. Contact us today for more info.