Documents are an integral component of any enterprise thereby it should be managed systematically. You already know how challenging it is to manage business information, especially from several sources. The good news is that DMS (Document Management Solution) can help.
The DMS will depend on the nature of your enterprise but it generally captures Records Storage and retrieval of electronic or paper documents. It is time to understand how DMS helps your organisation.
It helps reduce storage space
You know that in Hongkong, commercial property costs are increasing. If your documents consume space, it is considered an additional expense or waste of resources. However, this can be cut down with the help of DMS.
Through DMS, you are significantly reducing the need for filing cabinets, boxes and even storage bins thereby freeing up office space. You can now maximise every space and make it productive. The documents that have to be stored as hard copies can be placed in less expensive locations like an offsite vault or warehouse.
It enhances security
The security of the document is crucial to every organisation. If you consider DMS, it enhances security because they provide better control over sensitive documents. The best thing about DMS is the access can be controlled at the folder level for different individuals or groups.
Aside from controlling the release of sensitive documents, DMS leaves a trail especially those who viewed the document and when it was accessed. It will also record any modification. Simply put, DMS can trace and tag the access of documents and allow for alerts or notifications.
It presents easier retrieval
Searching for a document is challenging and time-consuming if you do not know where to look for it. If you consider DMS, the searching and retrieval of documents will be easier through a word or phrase in a document. Some DMS can apply index categories to a folder or document. These things facilitate access to critical information.
It provides better backup and disaster recovery
Whatever DMS you choose, you should expect a better backup and disaster recovery plan. The backup is for digital archiving. In the case of paper documents, the DMS will ensure that they are protected from fire, flood and other disasters.
It encourages better collaboration
DMS is crucial because it encourages better collaboration through information sharing. You must know that the documents, which are captured from different sources, can be accessed from a number of locations. Simply put, DMS provides greater visibility allowing better monitoring of workflow.
It improves regulatory compliance
There are compliance requirements for particular documents and sometimes it can be confusing. If you do not do it right, non-conformance will result in fines and revoked licenses. DMS can help you by implementing strict privacy and security guidelines at the same time reducing the risk of non-compliance.
It saves money
More importantly, DMS saves you money in the long run. It is a known fact that document filing takes time. Skilled employees spend hours putting away documents instead of doing something more valuable. If you consider storing documents off-site, it will surely eliminate this issue. Simply put, your company is utilising dollars to its fullest extent.