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By | August 17, 2017

Why You Should Start Using Document Management Software Documents, whether paper or electronic, are a basic part of just about any kind of 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 climbing and so are the costs of storing 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 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. Also, this type of system leaves a record of transactions involving the stored documents, including details such as time and date of access and any changes made. In addition, managed documents can be programmed to send alerts. Better Regulatory Compliance Compliance requirements for particular documents can be pretty convoluted. Non-conformance can result in a revoked license, fines, and in some cases, even a criminal charge. 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. According to statistics, organizations spend around $20 in labor simply to file a document, $120 look for a misfiled document, and twice that amount to reprint a lost document. In short, document management software suited to your business can save you time and money. Improved Inter-department Functions Document management systems’ very framework makes information sharing and collaboration a much easier job. 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. Because these systems provide greater visibility to business processes, workflow monitoring is also easier and more effective. Improved Backup and Disaster Recovery Process A data backup and disaster recovery plan is always part of any good document management solution. Digital archiving protects documents from fire, flood and other disasters. All documents may also be traced or searched using a certain set of criteria. If you use the right document management software, various benefits will indeed await you and your entire organization. And because each system has its unique features, it is best to take some time to choose the right one, making sure that it is built to address your specific needs.