How document management systems can save your company money
For many years, we’ve been told of the dawn of the paperless office – a world where printed documents cease to exist and important contracts and files are stored purely in a digital format.
Unfortunately, in reality, it is still very often the case that you will have no choice but to accept printed copies of files – no matter how much you’ve tried to move your operations to the paperless concept.
Storing physical, paper copies of documents can be hugely expensive for companies – both in terms of labor and space costs. Also, sifting through printed paper, it can take hours to find the document you’re looking for, and the costs associated with storage space can skyrocket if you still have a heavy reliance on traditional filing methods. Thankfully, help is at hand in the form of Document Management Systems (DMS).
What is DMS?
The concept of Document Management Systems is relatively simple. Instead of storing paper copies of important files, documents are scanned at source and filed digitally in virtual ‘filing cabinets’. Moreover, using a secure DMS, you can generate new files 100% digitally allowing for the creation, editing, signing and sharing of files. Using the correct archiving software, these files can then be searched and retrieved in seconds, from any connected device, anywhere in the world.
The advantages of DMS
Paper-based filing isn’t just labor-intensive and time-consuming, it also poses a significant security risk from fire or theft. However, there are also multiple other advantages to moving your company to a digital solution and you’ll find a DMS will provide a Return on Investment (ROI) very quickly:
Money and material costs: These days, printing documents isn’t just unnecessary – it can also cost your company extra expense in terms of printers, ink and paper. Moreover, with office space at a premium for most firms, transferring documents into digital format will free up valuable space in the workplace.
Speed of retrieval: If you install DMS software you’ll be able to search for records under a huge variety of criteria – file name, creation date, file type, content keywords or signatory details, to name but a few. Even with the best-organized office and filing system, document retrieval can take hours – and searching by content is virtually impossible.
DMS save time and space: Using a DMS is a vastly more efficient way of storing your important company files, which can save both time and overheads while also helping your employees quickly retrieve the documents they need. For example, clients using software developed by National Legal Staffing Support found doing a cost-benefit analysis that staffing support saves money – all thanks to their debt relief litigation DMS software.
DMS allow quick revisions and reviews of documents: It’s rare for the first version of a document to be signed off as is – most contracts and agreements undergo multiple re-writes and iterations before being approved. Using DMS, you can keep track of amendments in real-time with a record of the changes made, the users involved and the date alterations were made.
Automatic back-up: While it might seem unlikely, break-ins and fires can and do happen with alarming frequency in office premises. Storing your documents in DMS offers extra peace of mind with automatic back-ups should the worst happen.
Work anywhere with an internet connection: Using DMS you can retrieve your important documents and files from any location, on any device where there is an internet connection. This means your staff can pull up files on the move and saves carrying physical copies.
