How Document Management Systems Can Help Your Organization

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February 21, 2022

Most businesses rely heavily on documents and records in their daily operations. According to McKinsey research, employees spend a significant amount of time searching for information, even on minor issues. A recent Nintex survey also revealed that 49% of employees find it difficult to locate documents. The majority of documents processed by businesses in their daily transactions simply demonstrate that the cabinet filing system is now outdated. Manually managing records, especially in large and growing organizations, can be inefficient and time-consuming. For this, a smart and technologically advanced document management system helps.

Features of a Document Management System

  • Standardized documentation

The document control process will be standardized and automated, allowing for the storage of a large number of employee documents such as application forms, training certificates, diplomas, and so on.

  • Files are contained in a single, organized, and accessible database

Through a document management system, all records will be integrated in a single database, making it easier to search for and navigate through documents.

  • Dashboard notifications

With a real-time dashboard view, the system will be able to monitor employee records, alerting the manager should there be expiring documents.

  • Uploading of documents

New hires will be allowed to upload any required documents, while old employees may upload replacements of their expiring files. With its optical character recognition technology, the system will be able to read the uploaded document and fill-in empty fields for the user, such as name, passport, gender, address, and date of birth.

  • Monitoring

There is a dashboard that can be used to monitor document requests, allowing users to keep track of released records.

Benefits of a Document Management System

According to a Colliers International Research Report, the average cost of office space in the United States is $285 per square foot. Companies will incur additional costs if they use physical storages for documents and records because they will not only need to purchase more cabinets as their records grow, but they will also need to pay for expansion to accommodate these items. However, the hassle of using the cabinet filing system can be eliminated by an efficient technology-based document management system.

Aside from that, document management systems allow users to access documents in a timely manner without having to devote significant time to manually searching and navigating through records. Being centralized and easy to use, the system also allows multiple users to access a document simultaneously. This increases efficiency and workflow as users would no longer need to wait for others to finish using a document, unlike with physical records.

Furthermore, document management systems improve security. According to Varonis, a cybersecurity firm, 41% of businesses have around 1,000 files containing sensitive and confidential information. By having them electronically stored, documents will be preserved and access to them can be restricted. HR software companies in Dubai have even developed a cloud-based document management system that increases document security by ensuring that it is backed up and protected.

Overall, using document management systems simplifies and expedites document retrieval, saving time and money.