The Top 5 Benefits of a Document Management System

Documents and a document management system of some sort is a necessary part of any business or organisation. Every department has documents relevant to them and all procedures and policies will have documentation somewhere. Regardless of whether these documents are stored physically in your office, or on a computer system, managing these documents, ensuring they are up to date and that your staff are across each document relevant to them can become a difficult task.

A document management system automates the process of managing documents. For example, from creation to storage, and distribution throughout an organisation, and increasing efficiency, it reduces the cost of maintaining paper records. 

Here, we will discuss the top 5 benefits of implementing a cloud-based system for managing your documents for your business.

1 – Improved Compliance

A document management system is among the most essential tools for compliance in highly regulated industries. However, the compliance requirements for some documents can be very complex. As a result, being non-compliant can result in fines, having licenses cancelled, and in some cases, criminal liability. However, implementing a cloud-based system in your business will:

2 – Access Your Documents Easier

With a cloud-based system, all your documents are secure in one place. Tired of searching for paper documents in a filing cabinet or scrolling through endless folders on your desktop or email? Going digital with your documents give you: 

3 – Reduction in Business Costs

One large expense for businesses in the cost involved in physically producing and storing business assets such as documents, forms, and collateral. Commercial property costs are increasing and there are the added costs of office storage equipment such as filing cabinets, folders, and boxes. When including paper, printers, shredders etc, the costs add up. Having a document management system in place can help to

4 – Increased Security to your Business

Implementing a cloud-based system for managing documents goes hand in hand with creating a security awareness program for your business. As a result, it provides better control over your business’s confidential documents by providing management over who can access what documentation.

5 – Backup and Disaster Recovery

With a cloud-based system, you'll automatically get a back-up and disaster recovery plan. When your documents are digital in a cloud-based system, this ensures protection from fire, floods, and other disasters. You will still be able to access your documents online, regardless of whether your physical infrastructure has damage. Without back-up or disaster recovery in place, you run the risk of permanently losing your documents and the data attached to them.