2/14/2019 The Top 7 Benefits of Document Management Systems

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Enterprise Environments

THE TOP 7 BENEFITS OF DOCUMENT

MANAGEMENT SYSTEMS
Posted by Chris Poursaba
Thu, Mar 19, 2015

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2/14/2019 The Top 7 Benefits of Document Management Systems

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Documents, whether electronic or paper, are an essential component of just about any enterprise.
Managing business information, sometimes from several sources, can be a challenging task. Depending
on the nature of your company, a document management (DM) solution that captures, stores, and
retrieves both paper and electronic documents can provide many key bene ts to your organization.

In this post, I'll discuss the top 7 bene ts of document management systems, including:

1. Reduced Storage Space

2. Enhanced Security
3. Improved Regulatory Compliance
4. Easier Retrieval
5. Better Collaboration
6. Better Backup and Disaster Recovery
7. And the "Intangibles"

Read on to learn more!

1. Reduced Storage Space

Commercial property costs are increasing and so is the expense to store paper documents. A software-
based document management solution (DMS) that can reduce the need for le cabinets, boxes and
storage bins is a valuable asset to any enterprise, freeing up precious o ce space. Documents that have
to be kept as hard copies can often be stored in less expensive locations, such as an o site warehouse
or vault.

2. Enhanced Security

Document security is vital to many enterprises. DMS provides better control over sensitive documents.
Access to documents can be controlled at the folder level for di erent groups or individuals. Also, a DMS
leaves an audit trail of who has viewed a document, when it was accessed, and how it may have been
modi ed. Managed documents are highly traceable and can be tagged to allow for automated alerts.

RELATED: 5 Key Principles for Data Security

3. Improved Regulatory Compliance

Compliance requirements for certain documents can be quite complex. Non-conformance can lead to
nes, revoked licenses, and in some cases criminal liability. Federal and state regulatory regulations 
such as Sarbanes Oxley and HIPAA mandate strict security and privacy guidelines. DMS reduces the risk

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of non-compliance. Records retention schedules, for example, can be automated, and new documents
can be more easily classi ed and stored.

RELATED: 5 HIPAA Compliance Best Practices and How MSPs Keep DC SMBs Compliant

4. Easier Retrieval

Searching for and retrieving documents can be very time consuming - and we all know time is money. In
fact, PWC published these statistics illustrating the costs related to the average time spent managing
paper documents:

1. Organizations spend $20 in labor to le a

document, $120 in labor to nd a mis led
document, and $220 in labor to reproduce a
lost document.
2. 7.5% of all documents get lost; 3% of the
remainder get mis led.
3. Professionals spend 5 to 15% of their time
reading information, and up to 50% of their
time looking for it.

A document management solution, speci c for your

enterprise, can be a powerful, time-saving tool.
Depending on the solution implemented, a DMS can
retrieve les by a word or phrase in a document – full text search, or DMS can apply index categories to
a document or folder. Easier integration with business applications facilitates access to critical
information. DMS also gives the opportunity to access documents remotely. As long as there is internet
connection, documents can be accessed from virtually anywhere.

5. Better Collaboration

With DMS, information sharing and collaboration can be a lot easier. Documents captured from di erent
sources can be accessed from multiple locations. Electronic imaging makes sharing documents over a
network via email or the Internet possible. DMS provides greater visibility to business processes and can
allow for better work ow monitoring. Authorized access by external users can be allowed and
monitored. DMS also o ers Version Control which allows for older versions of the same document to be
recovered if needed. This feature is important if several parties work on the same document and there
are changes made to a document that were not authorized or meant to happen.

6. Better Backup and Disaster Recovery

Any document management solution should include a data backup and disaster recovery plan. With 
digital archiving as a backup, paper documents are protected from re and ood and other disasters.
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With a DMS, documents are highly traceable and can be tracked within a range of criteria.

Also, because imaged documents are centrally stored they cannot be lost or misplaced after viewing.
Documents are less likely to be mis led, and if so they are easier to locate with cross-indexing.
Documents can be digitized and archived at their point of entry into the system.

RELATED: Be Prepared: Avoid Data Disasters with Backup and Disaster Recovery Planning

7. The Intangibles

Just a few of the intangible bene ts of a document management system include:

1. Flexibility
2. Competitiveness
3. Improved client relations
4. Peace of mind

Time is valuable, and time saved is a de nite bene t of DMS that often translates directly into increased
productivity. Faster and more e cient document retrieval can boost sta morale and increase client
satisfaction. Also, document management solutions are scalable to meet the changing needs of any
enterprise.

Proper document management systems can bring many bene ts to you and your o ce. Take initiative
and schedule a demo today to see how a tailored document management solution can help you by
improving business processes and increasing e ciency.

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Chris Poursaba
Chris began working with Meridian in January of 2015. He is a Senior Solutions Engineer, in 
charge of pre and post solutions sales and implementation of scanning solutions.
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