Why Your Company Needs an Electronic Document Management System
December 16th, 2019 by admin
Have you ever been in a rush to find an important contract on your computer that seems to have disappeared? Or perhaps you've had to spend a lot of time emailing documents to your employees.
Without an electronic document management system, files become hard to find and can even get lost.
Not only does this take up your valuable time, but it can cost your company money in terms of lost productivity. You might even face data security issues.
Luckily, your company can gain many benefits if you choose to implement an electronic document management system that keeps all your documents in one place. Read on to learn seven reasons why your company should switch to this system.
1. More Flexibility for Your Employees
Do you have employees who travel throughout the workday, work from home, or do work from mobile devices? If so, using enterprise document management systems gives you and your staff access to all your important documents no matter where you are.
These systems provide 24/7 access from any web-enabled device your company might use.
This flexibility allows your staff to grab whichever document they need without needing to travel to the office or asking someone else to email it.
2. Less Risk of File Loss or Corruption
When you use a cloud-based document management system, you can worry less about losing your files due to corruption, accidental deletion, natural disasters, or computer crashes. Your files will all be backed up in the cloud where you can download them if you lose a local copy.
Even better, these systems have a data backup utility that can even let you access previous versions of files if something happens.
So, if another employee accidentally erases half the document's content, you won't have to get anybody to redo it. You can simply restore the file to an older version.
3. More Streamlined Communication Throughout the Company
Having all your documents stored electronically in one system makes it much easier for your staff to communicate and collaborate.
You and your employees won't need to worry about forwarding documents anymore. Instead, you can search the system and get the document you need instantly.
You can expect projects to go more smoothly since workers will waste less time handing over files and chasing each other down. Your staff will also be able to work on the same documents together and monitor changes.
Even better, you can integrate your electronic document management system with third-party software your teams use.
4. Improved Document Security
When you keep all your files stored on your company's computers rather than a secure centralized place, you're more susceptible to cybersecurity threats.
If someone were to hack your company's network, they could gain access to your confidential business files and steal information.
If an employee downloads an email attachment with a virus, this could even corrupt or delete the files.
An electronic document management system comes equipped with strict controls that allow you to choose exactly who can access files. These systems also use secure cloud servers with firewalls and cybersecurity tools that help prevent hacks.
5. Cost Savings
Although you do have the expenses of an electronic document management system, you'll find that the system helps your company save money in the long run.
You can think of the time savings when you don't have to hunt for files or request them from others. This means less paid work time spent on this wasteful task.
You also avoid having to pay money due to mistakes like lost documents. After all, this might cause an affected client or customer to choose another business rather than waste their time waiting for your company to find what is lost.
If your company uses a paper-based records system, you can expect to save even more money. Did you know each of your office's workers could use up to 10,000 pieces of paper annually You can heavily cut your paper cost (and any shredding costs) if you switch to an electronic document management system.
You can also consider the fact that you won't need a physical location to store your files. Whether this means fewer hard drives, file cabinets, or storage bins, your company will save money due to needing less storage space.
6. Boosted Workplace Productivity
Using a central repository for your business documents heavily boosts your workplace's productivity. You especially benefit when you need to find a specific file and don't know what name it has.
Enterprise document management systems organize your files in a way that allows you to do optimized searches without the need to know a file name. You can find specific files easily using keywords or tags or by searching subcategories and even metadata.
You can also consider the improved collaboration you get from an electronic document management system. This will help your employees complete their tasks more quickly, whether they're creating documentation, filling out invoices, or completing contracts for a client.
7. Easier Regulatory Compliance
You should also consider complying with regulations when it comes to documents like health records, legal files, and financial data.
These standards often have to do with having the documents secured, tracked, verified, and retrieved.
They also have to do with keeping backups of critical files that you can restore upon request.
Meeting all these rules can become a headache when you don't have a centralized system and try to follow them on your own. So, switching to an electronic document management system can provide the necessary controls to make your job easier.
Use an Electronic Document Management System for Your Business
Now you know the benefits of an electronic document management system. So, you see that it makes sense to switch from a paper-based system or a self-made electronic system that is less efficient and secure.
You'll want to consider features like the search abilities, security settings, and versioning tools. You'll also want to consider mobile support and compatibility with any third-party software.
If you're ready to make the leap to using a cloud-based document management system, be sure sure to check out our managed IT services.
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