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A Comprehensive Guide to Document Management System

Everyone here is familiar with the word document. Yes, a document is a physical or electronic record that contains information. The information in stored in a document so that it can be used again when ever required. So, what is so fascinating about this document? What is need to manage document and what exactly is the meaning of document management system. We will cover topics related to document management system and related elements to it.

Need for Document Management

Well everyone knows the term document, but need to manage them is quite unpredictable yet. Let us take example of healthcare industry. A hospital is bombarded with documents and all are of different categories. A hospital may contain documents that may include information of doctors, patients, insurance paper work, employee information, reports, diagnostic details, history of patients etc. So, to manage all the data accordingly so that it doesn’t mix with each other is a big task. Here is the place where document management system comes into play.

What is Document Management System?

Document management system is specialized software that supports the maintenance of documents and information present onto documents. Management of software includes different sub sets like storage, tagging, indexing, and retrieval. Simply stated, a document management system is a software solution that automates the process of organizing, securing, capturing, digitizing, labeling, approving, and completing tasks with your company’s documents. Despite the fact that most document management systems store data on the cloud, a DMS is much more than that. You can spend more time on the tasks you enjoy because innovative document management systems, such as softage, handle the vast amounts of paper that pour into your firm for you.

Types of DMS

Cloud based storage

A cloud-based document management system that allows you to work from any location with an internet connection. A web browser is used to access your data and account. Access files from anywhere, at any time, with secure mobile access.

On premise storage

On-premise document management software that operates on your local server; and has a lot of capacity. Installation of client/server software The data is stored on your own server, which makes it a fantastic backup solution.

Advantages of Document Management System

Obviously if demand for document management software is oen rise, surely there would be incomparable benefits to business. So, lets us now have a glance at the benefits of DMS for businesses-

Powerful search

Search capacity is the most powerful feature of document management software. Every document that you are storing is because of the fact that it should be available at time of need. Documents are stored with a mind set to retrieve them at time of need as soon as possible. But, have you ever thought what about the accuracy of search, Everyone is generally concerned with the speed of the retrieval process, but what about the accuracy of it. Suppose you get a search result in a fraction of second, but the search result was not accurate. So, to deliver the right search result is the key intent of every ideal record management system.   

Freedom

Document management system enabled with cloud technology offers freedom of place. You don’t need to be available at a particular position to access the database. In the time of pandemic, the world is accepting and appreciating this feature. Work from home is also made very easy with this feature. You can access your database anytime and everywhere, you office, your home anywhere.

Storage

Obviously, storage on servers and cloud servers is far better, easier and cheaper than physical storage. For physical storage, organizations need to make huge investment to buy or rent property to store the physical records. Property investment is huge and can lay burden on pocket and organizational budget. Also, physical records can get tampered while storing and moving. Whereas digital storage is far more convenient option. This option is quite easy on pocket and budget of your organization.

Compatibility

With a powerful combination of corporate document management and workflow capabilities, you can maximize the value of your content and create unlimited opportunities to improve business flow. Information is delivered to the right person at the right time through the applications and devices that individuals already use to complete their tasks.

Access Control

At every stage of its existence, critical business content is protected by enterprise-grade security controls and integrated records management capabilities. You can control who may view, alter, and remove documents using multiple layers of access permissions for file libraries, folders, and files. For the whole document lifecycle, simple, automated records management reinforces and demonstrates compliance with information governance regulations.

Benefits of Record Management System

Resource Management-

Offsite document storage helps firms to utilize their resources efficiently. Industries like eCommerce, Healthcare, Telecom produce mountains of data every day and it takes a huge investment in resources to store and manage these documents. The cost of offsite document storage is comparatively far less than the cost of deploying resources to manage and store the physical records onsite. So, it is always a better option for your business to opt for offsite document storage rather than onsite storing of physical documents.

Cost-Effectiveness-

By some experts, the idea of onsite record storage and management is also considered as a self-extorting idea. If one is planning to implement the idea of onsite document storage for your company, then you need to invest a lot for the property, its maintenance, rent, resources, and a lot more things. Setting up an infrastructure suitable to combat the disasters and maintaining high tech security levels can get a hole in the pocket. Most firms do not want to invest so much in just maintenance of the data of the users or customers. Rather than investing so much on the property and its maintenance, it is a wiser decision to hire a company for offsite document storage services or integrate a document management system for your business.

Time-Saving-

Obviously, document management software i.e. DMS is a far better option for quick storage and instant retrieval of data. With cloud-based document management software you can have access to the essential data anytime and anywhere you require. It is also a good option to get customized DMS software according to the requirements of your business and customers. Most of the DMS software now-a-days are enabled with artificial intelligence, which makes the work done is much less time that earlier was taken by humans. Artificial intelligence, proper tagging, and indexing of the documents have saved the time to a great extent. Obviously, the time saved is directly proportional to the money saved.

Theft Prevention-

Generally, offsite document storage companies keep the privacy of their clients of priority.  In fact, these companies never disclose their storage location of clients to anyone. Apart from this point, they have to keep security measures to check properly. The Security measures involve security guards, CCTV camera surveillance and sophisticated network security software to avoid both the online and offline thefts.

Environmental Damage-

Warehouses used for offsite document management are equipped with the latest technology and high tech systems that are deployed as per the guidelines of disaster management. So, the documents stored in properly built warehouses are far safer from any type of natural calamity. So, the risk of losing the data in the time of natural calamities like earthquakes, fire break is also very less. Data stored in these warehouses is comparatively safe than onsite document storage.

Conclusion

A document management system is trending due to its incomparable advantages for business. Enable your business with document digitization services and compete ahead in market.

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