Sunday, February 5, 2023

A Beginner’s Guide to Document Management System

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Suppose you’ve ever walked into the clutter of cabinets for filing and wondered where to find the correct file or document. In that case, you are familiar with the frustrations experienced by everyone working in an office for the past 100+ years. So you know why electronic document management systems have become integral to modern-day office life.

If you’ve faced (i.e., document, print, store, or reference) forms such as reports, brief quotes, releases, and packing lists, you’ll know how challenging it is to organize all the paperwork.

Filing cabinets can be bulky and can take up lots of space. They’re also a limited resource, meaning you will eventually need to expand them to keep more papers. In the end, you may be able to store enough documents that there’s not enough room within your office for filing cabinets; that’s why you pack the old folders and then pay for space at the warehouse to store the entire collection. If you’re a senior or large corporation, it could be quite a several containers to hold documents you may require but likely will not. Storage costs can be in the millions of dollars each month.

Digital document management software can help streamline the management of your files, eliminating the requirement for filing cabinets and making retrieving documents as easy as a quick internet search. Records are more easily found, storage capacity can be measured as gigabytes instead of sq feet, and the prices are less than traditional storage on paper.

We’ll discuss the features of document management software, the different kinds of systems, and the reason why using an Electronic Document Management System is the most effective option.

What is an electronic document management system?

In its simplest form, the document management system will help you manage your documents and reports.

For example, an organization for sales could store all packing lists, quotes, or invoices within project folders or put them in binders according to dates. Public safety offices could archive all policy documents, memos, subpoenas, BOLOs documents, and other documents according to the date and by precinct. A law office could organize warrants, case notes, invoice records, and transcripts by attorney date, time, or the case. There is a myriad of data that have been used by proponents of document management throughout time (although the source of 1998 data could be exaggerated) that reveal that the average document is duplicated 19 times and that businesses spend 20 dollars in the process of filing documents, $120 to search for a lost record and $220 for the reproduction of documents that have been lost. Also, 7.5 percent of all documents go missing, and 3 percent need to be recovered or filed correctly.

If these figures are accurate, however, the overall trend of loss and cost of documents is a significant issue for businesses. Also, electronic document management software could save you lots of stress and money.

So let’s examine the three kinds of systems for managing documents.

Document management system based on paper

This was explained within the intro: Formulas are placed into folders for files. Files go into hanging folders. Hanging folders go into drawers. Drawers go into filing cabinets. Filing cabinets are hidden in any space that you can locate. In the end, the files are put into boxes, and then the boxes are placed in warehouses. The issue is that everything comes with a price. Paper is comparatively cheap, but paper packs can be bulky and heavy. Ink for printers costs approximately $12,000 per gallon. Filing cabinets cost a few hundred dollars. You probably know how much the cost of office space is per square foot for the month. It is possible to store your things on bookshelves with binders. However, they cost money also.

In the end, printing and storage cost businesses tens of millions of dollars annually.

There are also security and confidentiality concerns. For example, paper files are not likely to be completely safe, which can be an issue in situations such as HIPAA, privileged information, or confidential information.

What are the advantages of using the paper-based document management system? Other than keeping furniture and office equipment industries in business? There’s little.

Mixed media document management system mixed media is a combination of digital and paper documents and forms. If you’ve received a PDF in the past and were requested to print, sign, scan, and return it, then you’ve encountered multi-media documents. Most documents are maintained and stored in paper format, but they can now be shared electronically. This early 20th century/late 2000s technology saves a few hours and dollars.

Most multi-media users print their documents and get signatures on hard copies, which can then be scanned and converted to digital storage. But physical copies are typically kept, which makes the digital version ineffective.

Digital document management system

Digital document management system essential electronic document management software permits you to be wholly paper-free and transfer all your files to a shared online drive such as Google Drive, Box, Microsoft OneDrive, DocuWare, and Bynder. These are great tools for those who run an entrepreneur-sized business and want to make their filing system. The advantage of sharing a cloud drive is that it allows you to label documents however you like, put the same file in multiple folders (rather than making multiple copies), and search for specific file names or phrases in a document. They’re also cheap or free storage management solutions. They are certainly less expensive than traditional management systems using paper, which could cost thousands of dollars a year.

However, you cannot change documents and make those changes sync across many documents. It’s not possible to notify users of these changes. Also, you cannot have individuals sign documents and keep track of their signatures. There are a few security concerns, and it’s possible to modify copies or create duplicates, leading to confusion unintentionally.

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