Ready to learn what managed document services are and how it can help your business? When you choose Docutrend, you are partnering with a top managed document service company that will provide a big-picture strategy, consistent service and support, creating a reliable print infrastructure.
Most companies have some sort of document management in place, whether it’s a designed strategy or used out of necessity. Platforms like SharePoint or DropBox can be considered document management software or application and these have a place in file management but a true document management strategy can provide huge workflow advantages.
Several of the most noteworthy advantages include:
1. Less storage space is needed (lessens cost of real estate)
The cost to store paper documents can quickly add up and that cost continues to rise today. This includes real estate, file cabinets, boxes, and storage bins. In fact, storage has about a 15% impact on total office space and on average the cost for office space has increased to over $300 per square foot. Most business owners don’t factor this cost into their capital expenditures. Since a document management strategy includes cloud-based storage and access via a network, space is freed up and documents are safely stored offsite.
2. Document Backup/Disaster Recovery
Storing paper documents is risky. A fire, flood, earthquake or any other destructive disaster may destroy years’ worth of valuable information and have a major impact on you business. Many businesses don’t reopen after a major disaster and not surprising, when the disaster strikes, it almost impossible to recover crucial files.
By transitioning to electronically storing documents in a document management system, especially one that is cloud-based and stored offsite, you’ll be able to avoid the issues which come with an onsite storage strategy.
3. Improves Workflows
When a company implements a digital transformation strategy and a document management plan, with centralized repository, employees can find what they need quickly, collaborate in real time, easily share files, and determine how recent a document is, thereby allowing them to spend more time on the revenue-generating tasks.
4. Better Version Control and Organization
There are many benefits to going digital but one huge benefit is the fact anyone with secure access can review and determine if the document they are looking at is up to date. Workers continue with version control across many industries leading to confusion.
When the right document management system is put in place, it will prevent the headaches by tracking edits and providing a version history. This allows for users to track all the changes and always make sure they have access to the latest version.
5. Enable Regulatory Compliance
Each industry is faced with different compliance requirements and it’s not easy to make sure everyone in an organization is adhering to them. For example, a healthcare provider must follow HIPAA compliance rules and by not doing so it can have a huge impact on a business, including legal issues and potential fines.
A document management system can make compliance with industry requirements easier and eliminate worries by organizing and securing files per regulations and store them without any hassles.
6. Create Permissions to Create Secure Access
Physical or hard documents can only be stored in one place at any given time. This is a huge issue and limits real-time collaboration, any time access and of course can be unsecure especially when copies can be made. A document management system provides the ability to manage these files, give access to only those who need it, view, and make updates in real time, and access from anywhere, any time.
7. Provides Better Security
When documents are digitized and stored in the cloud, it can open organizations to fraud or security breaches. Most companies have thousands of files which include sensitive information that is unprotected and open for access. This is a huge problem since security issues can lead to ransomware or other cybersecurity hacks which can lead to disruption of business.
8. Saves Time and Money
When managing paper files, it can be time consuming and expensive. Document management systems are designed to save time and money as employees can use it search and quickly find what they need. Since they are stored in the cloud, employees can be productive at a fraction the cost, in less time.
9. Integrates with Vital Legacy Systems
Many companies have systems they have been using for years or have implemented new systems, which cost a lot of money and took a lot of resources to set up. Integrating a document management system into these systems should be seamless and support existing workflows, avoiding disruption.
10. Document Retrieval Made easy
A document management system simplifies retrieval, since it can be customized by users, search, permissions or more. Employees can access what they need when they needed and can do it with a simple search.
Contact an expert
Ready to learn what managed document services are and how it can help your business? When you choose Docutrend, you are partnering with a top managed document service company that will provide a big-picture strategy, consistent service and support, creating a reliable print infrastructure.