Key Benefits of Document Management Software

Is document management software is a solution for your business?

The answer is YES.

An effective document management system is imperative to ensure your daily operations are running smoothly, documents are safely stored and easily accessible.

But before starting, let us introduce you to the key facts about paper document management:

Fact 1: The average document gets copied 19 times

Fact 2: Companies spend $220 to retrieve lost documents

Fact 3: 7.5% of all documents get lost

Source: PWS whitepaper survey

Document management software (DMS) is a solution for any type of business to store, capture and collaborate on a document in a real time. Let’s focus on the main benefits that DMS brings:

Data security

Key Benefits of Document Management Software

When dealing with sensitive client’s data, especially in sales and legal firms, it is important to ensure document security. As all of your files and documents are stored in your laptop or online, it is important to understand computer security and how it relates to document storage as it can be crucial for your business.

Document management software allows you to track who made the changes, oversee who has accessed the file and prevent unwelcome guests from viewing your file. In short, you are in control of the entire process of document management and storage.

Easier document retrieval

This is one the biggest advantages of a document management software – you can easily back up and retrieve lost files. Backing up physical files require copying, printing, scanning, folding and storing to cabinets – does anybody have time for that? Moreover, if an important paper document is misplaced – you are in a big trouble. We understand that such disasters happen everyday but it costs the company time and money to actually find the lost document. If you have a reliable document management software, rest assured your files are safely backed-up and can be recovered with a few clicks.

Time saving & efficiency

Key Benefits of Document Management Software

Imagine a typical day in the office: you are exchanging emails everyday, replying to customer’s requests, sending forms, receiving and creating invoices, forwarding templates, working on projects with other departments. It can be (and often is) a true chaos, so imagine how many copies of paper are being shuffled back and forth everyday. This is where having a document management tool is truly beneficial to a company.

Easily accessible files will help your staff perform more efficiently and increase productivity. In fact, professionals spend 5 to 15% of their time reading information, and up to 50% of their time looking for it. With DMS, you can quickly turn on the search function and find a term or phrase; many DMS can be integrated with other business applications and it facilitates the access to needed information, which makes decision-making process much quicker.

Cost saving

Planning your budget and money saving is a priority in any business. Document management software is a simple, inexpensive and more enjoyable way of being paperless. It drastically decreases expenses on copies, scanning, printer paper and storage and courier charges; what’s more, it frees up your office space.

 

No matter the nature of your business, we are sure you’ll find a way DMS can work for you. Almost every company by now has switched to paperless databases and if you want to be ahead of the competition, you should consider DMS, too. At DocuCollab, we ensure that the switch from paper to digital documents is simple and pain-free. Our user-friendly interface and functionality means you can navigate, edit and search your document quickly thus reducing negotiations process cycle. If you are ready to start, book a demo and we’ll find the best way DocuCollab can accelerate your business.