Did you know? An electronic document management system(EDMS) can help employees increase productivity by 21%. When an average employee spends 18 minutes to search a document, it leads to a loss of efficiency and output. To eliminate these issues, organizations are investing in electronic document systems to increase organizational efficiency and make profits.
Why Do We Need a Document Management System (DMS)?
Without a proper document management system, you will be forced to “babysit the documents.” It will tax precious time, cause you huge pain besides leaving some documents unattended. As a result, it may introduce a bottleneck in the normal office processes.
Reasons to invest in an Electronic Document Management System
Here are some reasons why you need to invest in electronic document management systems for your businesses.
1. Easy Automation
When it comes to handling paperwork, companies are always worried about misplacing important office documents. An EDMS helps you automate your workflow and business processes by making them faster and efficient. When workers spend an average of 50% of their time creating and preparing documents, it is necessary to preserve them. The software takes care of your stacks of files and paperwork. Thus, eliminating the need for manual labor and keeping a list of documents and their location.
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2. Integrates With Your Old System
You can also choose to integrate EDMS with your existing document management system. The software integration will help you implement electronic document storage and increase your record management system’s efficiency. Since electronic document software has been designed to blend in with other systems, they will not clash with your current system.
3. Scalable Solutions
There is a stark difference in the number of documents you need to handle at the beginning of your business journey, and ten years later. Thus, you need to have an electronic document management system that will scale with your business.
Most of the technology you were using initially will not fit the increasing demands and requirements after a few years. Having a scalable system to manage paperwork is critical.
However, the electronic document management system makes the entire process a lot more swift by adapting to your organization’s needs. Thus, enabling your organization to grow without any roadblocks.
4. Easy Sharing and Uploading of Documents
The primary purpose of EDMS software is to store and share documents. While all documents may not have a soft copy, you need software that lets you upload scanned copies.
An electronic document system allows you to upload from access points such as cloud storage, phone, and computers. Once you have uploaded these files, you can easily share them by email and send them over messaging platforms.
With 80% of business owners wanting the ability to access documents on the go, an electronic document management system is a must-have for your organization.
5. Collaboration and Version Control
With multiple employees and employers working on projects, it is necessary that the team members can collaborate easily. An electronic document system enables users to work together. Thus, ensuring that editing and finalizing documents doesn’t take much time. Moreover, you can use this time to carry out other essential tasks and build on your skills.
Interestingly, 82% of employees welcome the idea of having an automated software solution to name and tag office documents.
When more than one person works on a document, tracking edit history becomes important. With an electronic document management system, you can easily track edit history, see the marked changes, and even recover the older reports when needed. This helps you maintain a work record without any discrepancies.
6. Restricted Access
Not everyone needs to see every document. For the same purpose, EDMS software allows you to restrict access to the system for some documents. This feature enhances system security and helps you maintain the dignity of business data. However, only limiting access to some records is not enough.
An electronic document system will help you integrate important components on your system. These components include having an automated backup to secure the web portal and having login access. You must-have these features, as without proper surveillance integration, your system will not be able to handle business documents as efficiently.
7. Automatic file indexing
Electronic document management systems allow you to quickly find documents and index them. An EDMS software comes with automated file indexing. This can help you segregate your files based on the date & time of upload, keywords, alphabetical order, etc.
With indexing, you will see a noticeable increase in the document processing speed. Moreover, it will leave you with ample time to streamline other business operations.
8. Metadata for Easy Search and Filter
In the absence of the right document management system, you can tend to lose out on documents. Surprisingly, 83% of employees need to recreate existing documents as they cannot find them in their company network.
An EDMS software contains all the relevant details related to a document. These include the time & date of file creation, people who have access to it, and the file details. All these details comprise the metadata.
This makes it convenient for users and administrators to find documents and check them. Moreover, an EDMS comes with a filter feature that can be used to find files with particular metadata.
9. Offline Editing and Reviewing
With an EDMS, you can easily review and edit documents offline. Not only does this speed up the whole process, but it also enhances the quality of the entire system. There might be times when you might not have easy access to the internet. For those times, having an offline document review and editing feature will be beneficial for your business.
Time lost means money lost. The electronic document management system will help you cut the time and speed needed to store documents. It also ensures that you are complying with the ever-changing document storage regulations, boosting employee morale, and also increasing client satisfaction. Adopting a good electronic document management system in your office can bring wonderful benefits to your business.
An electronic document system allows you to have the most organized and efficient database. Thus, facilitating growth and team-building.
Did we miss out on any key aspect? Let us know in the comments section below!