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Comparing Document Management Cost, Security and Efficiency

Date: April, 2022 | CategoryProofreading Author: Hana Trokic


Most, if not all, companies have one thing in common: they want to be successful. And while the road to success might look different from company to company, there is an underlying factor that can be easily tracked and quantified that shows how a company is performing; results.

There are several ways to measure success and results in a corporate environment but most of the time, it comes down to time and money. Are employees performing the appropriate tasks? Are deadlines being met? Are company expenditures within their limits? How can all of this be improved? The answer to all of these questions can be found at the source, which is efficiency at the workplace. When businesses really nail down properly functioning workflows and streamline their everyday processes, everything else simply comes together. Major improvements will be evident in no time, and your goals checklist, results board, and success tracker will be a magnificent sight to see—a masterpiece.

To improve workplace efficiency, most businesses turn to technology to help expedite processes, allowing employees to work smarter, not harder, and ultimately producing more within a shorter period. Implementing new methods of work that aid day-to-day tasks are also crucial as efficiency should be improved on a daily level. After all, doesn’t everyone want their everyday tasks to be that much easier to complete?

A task we could all use some help with is document management. Most, if not all of us, have had at least one traumatic experience trying to keep track of endless documents, sifting through folders or piles of paper, trying to find that one document we are looking for. Thankfully, we’ve come a long way since then, and software was created to help organize our neverending mass of documentation. What was once a tedious and manual administrational task can now be completed within seconds with a document management system. Instead of having to strain your eyes on endless white sheets and pick apart your brain, these digital systems file work by receiving, tracking, managing, and storing documents on a digital platform, drastically reducing paper and clutter. Today, most platforms have evolved immensely, allowing you to store large amounts of data and easily share it amongst peers and coworkers. You can track documents as they are being created and see if deadlines are being met and tasks are being completed.

Whatever your document needs may be, it’s only a search away and on your screen in a matter of seconds using a document management software. What a time to be alive!


Low Cost, High Return

As the world continues to digitalize, we are continuously creating more data daily. Think about it. On a typical workday, how many new documents do you create? Now imagine if all of that documentation was created on paper?

While paper documentation in some cases is necessary, for instances when it is not, it’s often costly and wasteful. Whatever the industry, most people have moved on and are creating or viewing digital content on some sort of screen. All of that data needs to be stored somewhere! This is where document management systems really shine. Not only do they reduce the need for paper and costly resources, but they also centralize documentation into one single hub making it readily available to all those who need access to it. In seconds, documentation can be searched and viewed on any device allowing for a faster flow of information. This leads to tasks being completed faster and without unnecessary complications or distractions. What’s more, most enterprise document management software do not cost more than a couple of dollars per user. A small price to pay for the endless benefits it will bring to employees and the business as a whole.
By implementing a document management software, not only will you be able to cut down on company resources, but you will also be able to finish tasks in a fraction of the time, ultimately leading to increased savings and profits. Companies can streamline workflows and reduce unnecessary costs on work methods that do not work in today’s digital climate. Through the simple addition of a document management system, businesses can expect to see significant improvements in employee productivity and ultimately see management costs decrease while upholding or even enhancing the quality of work.


Locked and Secured

The whole concept of a document management system is to manage and store large amounts of data. To do this, you must upload all of your documents onto a platform for it to do its magic. This brings into question data safety and security. Being a huge topic of discussion in the last couple of years, there is growing concern amongst the public over the safety of their data and its use.

While every platform has its own method of securing data, they all adhere to the best business practices and ensure that they are ISO certified and meet global compliance criteria. Through a quick search, you will find extensive documentation and downloadable brochures on compliance, privacy, and security that detail all the ways your data is secured once uploaded onto a platform. In many ways, a document management software can improve your privacy and security. These platforms are required to provide evidence as to how they are secure and keep documentation under control. Suppose this documentation isn’t provided or a breach in security occurs. In that case, this will most likely lead to hefty fines, loss of business, and irreversible damage to a brand’s image and reputation.


Efficiency is Priority 

They say time is money, so many businesses’ primary concern is to decrease production times while increasing profits. A foolproof way to do this is by implementing new technologies that will replace obsolete practices that otherwise do not lead to improved performance results. In fact, it’s well known that businesses must turn to technological advancements to stay relevant in today’s competitive global market.

In recent years, especially through the pandemic, many saw their workplaces shift to remote or home offices, making them heavily reliant and even dependent on technology that would keep them connected to their colleagues. Since face-to-face wasn’t an option anymore, different platforms had to be introduced that eased digital collaboration between coworkers while also tracking tasks as they were being created and completed. With so many documents that needed to be shared and stored, companies looked for the best way to manage documents while cutting down on resources and allowing for efficient workflows.

A document management system is a single platform that brings endless benefits to the end-user. It allows companies to have a centralized hub of all of their information and documentation that is easily accessible by everyone, any time, anywhere. Whatever document or information is needed, one can simply search for it on the platform and retrieve it in seconds. This allows for workflows without significant disruptions and reduces the time required to communicate information between peers and teams.


You Got This

One of the best parts of a document management system is that you are probably already using one. Whether personally or professionally, many of us use online clouds to store the mounds of content we create. From pictures of our kids, pets, or food to the important sales presentations and monthly spreadsheets we create, they are all probably stored on an online database for our convenience and future viewing pleasure. A list of some document management systems include:

  • PowerDMS
  • Adobe Acrobat Reader DC
  • Kofax Power PDF
  • Google Drive
  • Confluence
  • Evernote
  • Apple iCloud

If you are not using several of these systems, you are probably using one. For whatever its use, you most likely already understand how beneficial they are to your everyday life and how much they help organize and store your precious documents while making them easily accessible and shared amongst others.


Conclusion 

With so many available, it may be difficult to choose the best document management system for your business. One thing, however, is sure. Whichever one you decide to use, you can be sure that it will help manage, store, and organize your documentation while making online collaboration a breeze for all employees. From financial benefits to increased efficiency that leads to results, the practicality of a document management system cannot be overlooked. With the growing modernization of our everyday lives and the ever-growing amount of content being produced, these systems are vital to ensure the proper workflow of any business wishing to stay competitive in this modern and digital era.