Benefits of DMS

Hello Data Enthusiasts!

We had started learning about Document Management Systems(DMS). If you have skipped the part 1, it’s preferable to go through that first. Will provide you the link!
Link: Document Management Systems (DMS)

Now will learn further about Benefits of using Document Management System.

A DMS should make your work easier and more efficient, saving you and your employees hours of repetitive tasks and the frustration of not finding the documents you need.

More time to devote to other work

If you currently use a manual or paper document management system, you are costing yourself hours that you could devote to more pressing matters of your business. A DMS automates many aspects of document management, taking that responsibility off your hands.

Document security

As the world continues to go digital, keeping your information and documents secure becomes a higher priority. Document management systems have built-in security and access controls so that you can control exactly who can access which documents, as well as track and see all activity on any given document.

In the event of a disaster, like a fire or flood, your files are stored safely in the cloud, away from physical harm.

Easy scaling

A DMS is more flexible than a traditional paper filing system. It easily grows along with your business, and you can adjust your indexing system with a few clicks. It also reduces the need for physical storage space for files and paper documents.

Better regulatory compliance

Compliance requirements for many business documents can be complex and demanding. A DMS can help you avoid fines, revoked licenses or even criminal liability by automating key documents to meet the requirements. For example, HIPAA and Sarbanes-Oxley both have strict security and policy regulations regarding documents and records; a DMS will automatically follow those guidelines for you.

Quick and easy document retrieval

Searching for the right document when you have an entire business’s worth to go through can be difficult and time-consuming, and can even cost you money. PricewaterhouseCoopers estimated that the process of [finding one lost document can cost a company $122 on average, and 7.5% of all documents end up getting lost.

Proper indexing lets you find a document in mere seconds, and it also allows employees to remotely access the documents they need.

Improved collaboration

A DMS makes sharing information and collaborating easy, allowing documents from different sources to be accessible from multiple locations. You can share documents, monitor workflows, grant or deny access to certain documents, and see what changes have been made.

In next part will see, “How DMS works?”

Thankyou.