There’s many beneficial factors along with few demerits when it comes to document management software. However, its benefits list is long compared to its drawbacks. Well known companies such as M-Files and DocPoint make sure that their DMS solutions are top notch and below we will share several benefits of using a document management software.
- Formation of a central repository
- Workflow standardization
- Cost minimization
- Enhanced information security
- Higher data integrity
- Data loss prevention and recovery
- Increased satisfaction and call for business intelligence
Formation of a central repository
DMS calls to form a central repository which in turn allows users file access from remote locations. At the same time, it can be hosted centrally and from multiple locations. The repository remains available for service round the clock and facilitates the user by meeting their requests and enabling more sharing and collaborative work environment.
DMS with the incorporation of electronic documentation system lessens the record keeping burden, makes the internal operational procedures to become more objective driven. At the same time it will add control to make the transfer and sharing of data, information and content flexible. Through its overall arrangement, it will haunt every activity with a logic frame and therefore the operational procesure or the workflow starts to get standardized.
A prime reason for organizations to implement the DMS is to minimize their documentation costs down. With DMS costs go down and profit increases. At the same time labor requirement goes down and employees start to utilize their time more efficiently and effectively. Scalability feature of DMS also makes things better for the organization.
Enhanced information security
Another core reason to go for the DMS is enhancing the data, information and document security. DMS not only facilitates access control and restriction but also allows varying levels of permitted rights based user access. Thus it is possible to conduct audit trail, traceability, encryption, retention and controlled archiving and destruction.
Higher data integrity
Data integrity capability comes with the diverse types and forms of date. Organizations uses textual information beside images, spreadsheets, drawings, artworks, sound and video clips for their business purpose. In non DMS state, they are all hard to management but with DMS all sorts of data can integrate easily with the system. Moreover, they can be processed simultanesouly and in real time as they generate.
Data loss prevention and recovery
DMS’s backup capabilities ensure proper recovery and data loss prevention. You can store data to predefined storage with implemented arrangements for security and recovery. The software can also enable elimination of redundancy. A good architectural system design for the DMS can make sure that users are full protected from data loss and ensure easy recovery.
Increased satisfaction and call for business intelligence
Well, the above mentioned benefits are the reasons to govern increasing user satisfaction. And for business intelligence, availability of historic data, and market performance record; it would be very natural for any organization to go for knowledge management. When they opt with the knowledge management they will start to accrue business intelligence which in turn will help them to remain profitable and growth oriented.
Problems you’ll face without a DMS
For a paper based organization the problems are few. Paper documents require large storage space, they can get damaged and they do not have a proper filing or management system. More importantly, paper base documentation system can incur unwanted cost on business, deter in quality with aging, limits editing and extended collaboration. Therefore organizations want to move to a paperless system that will cut the cost, make things available on demand and will reach furthest point where traditional papers cannot reach.
Do you call risks as the demerits?
Now it is time for some demerits of DMS. Unfortunately, there are no demerits in implementing the DMS but there are good risks involved in it. First of all, if an organization management fails to realign their business goal behind the implementation of DMS; it will be difficult for them to success. If the management can properly align their requirements with their goals, they can see success.
There is a chance, that is the risk to take. Other risks come from the same reason. When a business fails to align its business requirements in lights of its business goal, it will incorrectly index the documents. Thus it will make the investment into a chaos. Organizations need to train their people beforehand, identify risks and plot risk avoidance strategies. At the same time they need to have a solid data security and confidentiality policy formed and translated into practice.
Why should you take the risk for DMS?
If organizations can take the risk in clearly translating their business goals into their business requirements for DMS, certainly they can reap all the benefits we mentioned here. You can read some of the document management software best practices for further knowledge if you’re unsure about taking risks. In fact, rickl taking is the business, if you do not take risk, you will get interest on your investment and when you start to take risks, you start to make profits. Are you ready?