Does having your own style to manage your own document mean you are doing it systematically to help save your time and costs? Certainly the value of a document is immense for the information it carries! Document management software brings uniformity and safety to your document management.
What is Document Management Software?
Association for Information and Image Management defines document management software as the computerized systematic arrangement for electronics documents and images storage, management and tracking. It only asks to digitalize the documentation because electronic digitalization of document prevents data loss, ensures safety and on-demand availability. The much heard environmentalist movement of ‘going green’ is all about adopting more of document management software.
Document management software explained
Based on client requirement, some of the best document management software can be engineered differently. However, the most common functional areas of such software lead to:
- Capturing and imaging of non textual information set with the use of optical character reader and scanner machines.
- Creation and management of a centralized repository system that processes check in and outs with authentication.
- Permission based access to ensure teamwork collaboration and proper organization wide workflow.
- Centralizing data and information archiving system with history of files and edits and file versions.
- Web content and digital asset management
- Email management
Why do you need to manage your documents?
If you think your documents to be mere piece of paper or digital piece then you are forgetting the immense power that a document can pose. Will you like your organizational documents to go outside to the public? Do you want your backdated data to become available to your competitor?
Will you enjoy the press to bring your document in front of you to ask you questions? Surely you will not like those moments and this makes you realize the power of document – what document can do to you when it is in the wrong hand and when it contains the non-updated and wrong or backdated information.
Key risks for your organization without a document management software
Even before we go in defining the Document Management Software, we can see from above that following problems can emerge any time. Absence of document management software poses you strong risks. Look here:
- Outdated information in wrong time in wrong place and in wrong hand can cause you serious damage.
- Traditional paper based documentation has its unrecoverable loopholes like damaged paper, lost paper and natural decay.
- Documents contain data and information that should remain always accessible and update. Remote accessibility to documents is important for business and organizational performance dynamics.
- Document management without a proper system or software is pure waste of time.
- All stakeholder parties should collaborate together for greater intelligence.
Documents are our assets, we need to utilize it in productive cycle with better safety and security.
First thing you need to check is your return on invest! Will you get return on your investment of implementing the document management software? You should refer to how to select the right DMS for your business? because as an business owner it would be right for you to think of return but here we are listing few other self explanatory factors that you must also consider:
- Return on investment (ROI)
- Implementation timeframe
- Ease of use
- Functional performance gaps
- Cost of upgrades/updates
Whenever you consider DMS as a SaaS for your enterprise you will be able to overcome all your concerns mentioned in above list.
Key common benefits of most document management software
- Advanced and precision based information searching capabilities
- Document scanning and management
- OCR (Optical Character Recognition)
- Document approbation and routing
- Incorporation of other utility tools to better organize the documentation
- Enhanced security for documents and assurance for right or permission based access
- Document history and file version control
- Multimedia capabilities
- Lots of input and output support
- High security and full control
Besides these benefits mentioned above, there’s other factors that include; Time management, enhancing efficiency, remote accessibility, disaster recovery, organizational compliance and eco friendliness.
Many often confuse the Document management with the enterprise content management as they are quite integral with each other.
Deciding to use the document management software for your organization is pure math! Initially it makes you go for some investment and soon as you incorporate the software it will start to save your money.