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Why You Should Start Using Document Management Software Documents, electronic or paper, are a key component of nearly any type enterprise. Managing business data, typically from varied sources, can be a humongous task. Depending on your type of company or organization, a document management (DM) solution can give you an entire array of benefits. Here are the most crucial advantages document management systems deliver: Storage Cost Efficiency
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Commercial property costs are soaring and so are the expenses incurred to store traditional documents. A software-based document management solution can decrease the need for storage cabinets, boxes and the like, and free up office space that can be used for other important purposes. Documents that should be kept as hard copies can go into a vault, offsite warehouse or any inexpensive storage location.
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Solid Security With document management software, securing sensitive documents becomes a lot easier. Access to files may be controlled at the folder level for various group or individual users. This type of system also leaves a transaction log for every stored document, so that authorized personnel can check such details as date and time of file access, and modifications or changes made to the files. Additionally, managed documents may be set to send preprogrammed alerts. Better Regulatory Compliance Compliance requirements for particular documents can be pretty convoluted. Non-conformance can leave you with fines, a revoked license, and sometimes, criminal liability. The right document management software can help you controls such risks, with such features as automated record retention scheduling, automatic classification and storage of new documents, and many others. Faster Document Access Manually searching for documents is time-consuming, and time equals money. Statistics indicate organizations pay someone some $20 just to file a document, $120 to find a misfiled document, and about double that amount to reprint a missing document. With the right document management software, you can save time and money. Improved Inter-department Functions The very framework of document management systems makes information sharing and collaboration a lot easier. Documents from various sources can be accessed by multiple users from multiple locations, all at the same time. With electronic imaging, sharing documents online is also possible. Since these systems increase the visibility of business processes, workflow monitoring also becomes simpler and more effective. More Effective Backup and Disaster Recovery Process Any good document management software includes a data backup and disaster recovery plan. Digital archiving protects documents from fire, flood and other disasters. All documents are also easily traceable and searchable with the use of different criteria. You and your entire organization can indeed benefit substantially from using the right document management system. And since every system offers unique abilities, you need to spend time choosing the right one, ensuring that it is designed to meet your particular needs.