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How Effective is a Document Management System for Businesses ?

04 March 2021 10:37 PM

No matter what business sector your business belongs to, or what is your business scale, documents are always in the picture!

While all of us agree that documents are of critical importance in every business organization, there is absolute truth to the statement that they are messy and daunting to tackle, manage, store, and process. If you have to do all these things manually in a mid-size or large business organization, there is no way you can get everything done without making errors; right? For example, on average, you process, store and manage and respond to the following types of documents:

· Invoices

· Employee onboarding

· Bills

· Monthly reports

· Personal documents of the staff

· Contracts

· Agreements

· Commercial documents

Furthermore, many documents are highly confidential and are subject to vulnerability if they are in the print-form. Hence, it is important to ensure proper handling and storage of documents.

This is where document management systems come into the picture.

Here, we discuss how an electronic document management system can help you manage, store and use your documents without compromising security, and without losing work efficiency. We discuss how they are useful for every business and how to choose the best one for your business.

So, read on!

What is a digital document management system?

The digital document management system is software that allows you to store, process, manage, share, access, and edit documents securely and efficiently in a digital format. So, if you are using it, you have 24X7 access to your digital documents, and respond to them (such as bills, invoices, and reimbursement applications, etc), edit them and sign them as and when required from any device of your choice. Further, the digital document management system also offers various levels of access and document operations that allow you to enforce confidentiality and assign access rules for every employee using the system.

So, all in all, it is a central vault for all your documents with a large number of functionalities that facilitate efficient usage of documents and makes your work easy.

Various Functionalities of Document Management System

While the functionalities and features vary across the software and document management system providers, some of the most common functionalities include the following:

· Mobile Apps for Uploading, downloading, processing, accessing, and editing documents.

· Availability across multiple devices and platforms

· Smart indexing and filing functionalities.

· Access display and editing the content of the documents

· Pre-built integrations with third-party software and apps

· Workflow manager

· Integration with a digital signature to sign documents

· Scan, print, modify and capture the documents

· Task management

· Access management

Hence, a document management system makes all your document-related work and processing easy and efficient.

Major benefits of using a DMS for Businesses

There are several benefits when it comes to using a digital document management system. With all the functionalities available under a single umbrella, it becomes easier to handle and respond to the document-related work and you get a central repository for all your documents. You don’t have to keep a briefcase holding all your documents every time you go out for meetings with your clients, as you can access them easily via your phone. 

In the following section, we discuss some of the other major benefits of a digital document management system.

Easy/Quick Retrieval of Documents

As Document Management Systems can be integrated with the existing systems such as ERP, CRM, Accounting Software, etc, the Search & Retrieval will be much easier. When it comes to retrieval of documents also, it is easier as the DMS is capable of searching text and keywords and listing all documents that contain these text queries or keywords. With a proper system in place, the entire process of submitting, sharing, forwarding, and copying the documents across the company becomes easy and efficient. Your employees don’t have to take out tons of copies for all the project stakeholders just for a meeting and can focus on more important works. You don’t have to worry about the confidentiality of your documents and can easily sign them and process them as and when required. Uploading and retrieving the documents and managing workflows become easier, with you being able to take actions on the go. Further, document revisions and versions can be easily managed.

Reduced Storage Space

Physical documents consume a lot of space for storage and also require proper infrastructure for proper management. However, a DMS allows you to upload and store your documents online, which means you no longer require an entire department dedicated to the management and storage of documents. It also reduces the operational and management overheads significantly.

Secure Central Storage

With a document management system, you can effortlessly manage a central repository of your documents that is extremely secure and is not vulnerable to theft as well. You can set different levels of access for specific operations on the documents and assign them as per the job roles. 

Collaboration Perks

Having a central repository of documents in electronic format facilitates faster and more efficient document handling. Another powerful feature of a document management system is that you get many templates that you can customize and use for your company. 

For example, you can find many proposal templates, invoice templates, and hiring letters that require you to submit specific details and complete the document work swiftly. You can use templates for speeding-up the document operations for heavily used documents. 

It is easy to search for documents by typing search terms, and you can also access them remotely. It becomes easy to discuss revisions and rolling-out updates as well. Hence, a DMS improves workplace productivity and tackles redundancy also.

Paperless Office

With a digital document management system, you can establish a paperless culture in your organization and bring more value to it. All your staff can enjoy the functionalities of uploading the documents and sharing them across the office in a digital format. They don’t have to spend time drafting letters or applications or finding the latest format for submitting invoices etc. They can just access the document management system and find everything there. Hence, you save time, effort, and resources and bring more value to your organization. All in all, a digital document management system makes all your document-related work efficient and easy. Now that you know all the benefits it offers, invest in a reputed document management system and say goodbyes to the document-handling woes forever!

At ePillars, we offer Document Management Systems that suit your organizations’ specific requirements. If you are looking for DMS in UAE, contact us now.

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