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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 information, often from various sources, can be a tremendous task. Depending on your type of company or organization, a document management (DM) solution can give you an entire array of benefits. The following are the most important advantages delivered by this technology: Storage Cost Efficiency
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Commercial property costs are on the rise and so are the expenses related to storing traditional documents. A software-based management solution can decrease the need for boxes, file cabinets and other old-school storage devices, and thereby free up precious space in the office. 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 Document management software makes keeping sensitive documents a much easier task. 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. These risks can be controlled with the use of the right document management software, specifically through such features as record retention schedule automation and automatic storage and classification of new documents, among several others. Faster Document Access Looking for documents can take a lot of time, and of course, time is 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. Simply put, the right document management software for your business can help you save time and cash. Improved Inter-department Functions Document management systems’ very framework makes information sharing and collaboration a much easier job. Access to documents can be done by several users from several locations, all at the same time. Users can also share and exchange documents over the Internet. 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. Documents can be protected from flood, fire and other disasters through digital archiving. Documents may be traced or searched as well using particular criteria. You and your entire organization can indeed benefit substantially from using the right document management system. And with each system having unique features, you have to take time selecting the right one, ensuring that your specific needs will all be met.