To deal with the drastic digitization, organizations are pushed to reduce their paper-based work and have digital documents. Therefore, Document Management Systems are high in demand to make this task much easier and faster.
What is document management?
Document management is a smart and efficient way to manage and track electronic documents. This solution allows you simultaneous but separate editing facility of documents to multiple editors to avoid the conflict of overwriting. And, you can even roll back to any older accurate version of a document in case of any error. A document management system provides a version control facility also.
Nowadays, document management solutions have become critical for every organization. These are available in different forms—from a small stand-alone application to extensive enterprise-wide configurations.
Types of document management systems
A document management system refers to accessing and managing documents electronically from anywhere and anytime. When looking for a document management system, you may have two options:
1. On-premises document management systems
In the case of an on-premises solution, you have to use your own servers and storage, and you also need to take care of system maintenance. Here, you will be responsible for the security of your business data. So, you need to make arrangements for a backup facility.
On-premises document management systems are preferable for larger organizations with dedicated IT resources as these options come with higher technical demands. An On-premises solution also provides you direct control over your system and every piece of data. If needed, you can have the vendor’s technical support and software updates facility depending on the service package you choose.
Pros: The main benefit of an on-premises document management system is that you will have complete control of your system and don’t have to depend on anyone else to keep the system up and running.
Cons: A self-hosted document management system is costly, and the requirement of regular software makes the system more expensive.
2. Cloud-based document management systems
On the other hand, cloud-based solutions are hosted by the service provider, and you can access that through the internet. These cloud-based document management solutions come with a monthly or yearly package system that includes all maintenance and software updates. Depending on the system and services offered by your vendor, you can choose the features you require and pay accordingly.
Pros: Key benefits of this system are that you don’t need a dedicated IT team to install and update the software, run the system and maintain, and there are no significant upfront costs. You can also access these systems from anywhere through online, and you don’t even need to back up your files.
Cons: You will be dependent on your service provider to keep the system up and running. If your provider’s data center is down for any reason, it could prevent you from accessing your files until the problem is resolved.
Document management system features
These are key features of a document management system:
Document storage: A document management system allows you to store your business documents safely. It stores the documents in an easily searchable manner.
Keyword search: An efficient document management system comes with a broad keyword search option that allows you to access any document based on specific keywords. Some systems also provide metadata and tagging facility that make it easier to recall a document.
Permissioned access to certain documents: Your document management system also allows you to create tiered permissions so that you can restrict access to certain documents from selected employees. You can also limit the editing and viewing option.
Document access monitoring tools: These tools allow you to monitor which employee is accessing what documents. This can be an effective security feature for organizations to ensure their confidential documents are safe.
Document edit history and restoration: Most of the systems come with edit history and restoration options, which allows you to track who has edited documents. The versioning facility will enable you to access older versions of documents that have been revised and see previously made changes.
Mobile device access: With a document management system, you can access your business documentation through your mobile device. Generally, a mobile document management system provides you viewing, editing and sharing documents facilities.
Benefits of using a document management system
With an efficient document management system, you can enjoy multiple benefits. Apart from making your life easier with document editing, version control, sorting, and storing, a document management system can allow you to run your business more efficiently. Here are the key benefits:
Time saving: With adocument management system, you can easily save time on organizing and managing your documents and storing them efficiently.
Security: Nowadays, cybersecurity is crucial for every business. You can ensure the safety of critical and sensitive business data by backing them up in the encrypted cloud or a secure on-premises server.
Scaling: A document management software offers you the flexibility to scale up and down the storage and features to meet your business’s ever-changing requirements.
Easy document management: A document management system allows you to access any of your documents faster and more efficiently with a keyword search facility.
Collaboration: A document management solution also contributes to improve the collaboration among your employees by allowing them to work on the same file at once, tracking who makes what changes and providing access to any older versions of the document.
How to opt for the best document management system
When planning to have a document management solution for your organization, first, you need to make a list of your exact requirements to get the right option for you. Here are the key things to consider before opting one:
- Simple file structure
- Easy and efficient search options
- User-friendly functionality
- Easy integration facility
- Mobile accessibility
- Security features
- Scanning
Conclusion:
An efficient document management system is essential to any business, irrespective of its size. It allows you to set your business up for success by storing your essential business documentation digitally and securely. To have the right document management system for your business, you can do thorough research, background checking, and strategy planning by yourself or consider your IT infrastructure consulting services to help you with. Your managed service partner can help you to choose the right document management software for your business.
