Document Management Systems Are Perfect for Companies with Lots of Paperwork

If you work in an office filled with filing cabinets, inevitably there comes a time when someone misplaces a document. You flip everything upside down, frantically searching for it to no avail. These types of searches prove costly, as according to PricewaterhouseCoopers, finding a lost document will cost a company $122 on average. Continuing to rely on paperwork comes with a price, but there is a solution available to companies of all sizes: document management. Document Management Systems converts paper documents to digital versions, using software for the storage, management, and retrieval of these electronic files. It is an invaluable resource, enabling you to eliminate piles of paper from your workplace.

Problems Associated with Paper-based Filing

Time Consumption
It can be extremely time-consuming to look for a paper document. Moreover, it’s a painstaking task to manually file each and every document that comes through your office. Document management software not only quickly and efficiently does the archiving for you, but it indexes your files to make them accessible within seconds, rather than minutes, hours, or even days.

Data Security Issues
There are significant risks that come with a dependence on paperwork. Natural hazards such as flood or fire can prove to be catastrophic if your organization relies on paper documents. Perhaps even worse, documents containing sensitive or confidential information can easily end up in the wrong hands when stored in a filing cabinet in paper form.

Storage Space Requirements
A business that relies on paperwork requires lots of space for the storage of hardcopy files. Conversely, a document management system scans and converts your documents to digital files and stores them electronically, taking up virtually no physical space at all.

Reasons for Paper-based Companies to Use Document Management Systems

Improve Efficiency
With a document management system, your documents are indexed and archived digitally, which offers easy retrieval, enhanced collaboration, and secure sharing of files. It’s a sure path toward improving your business workflows.

Cut Document Archiving Costs
Manual storage and retrieval of documents is labor intensive and taxing on resources. Businesses can use document management to reduce filing and storage costs while making it easier to track and share files electronically.

Increase Document Control & Security
Many industries face regulatory compliance that requires businesses to retain documents in a way that allows for easy tracking and retrieval. Document management systems help organizations keep track of their documents and files, as well limit access to them through permissions.

The role document management systems play in improving efficiency, cutting filing costs, and enhancing data security cannot be underestimated. Turn to a reputable document management company such as Monster Technology to eliminate excessive paperwork and realize these benefits for yourself.