Electronic Document Management System – Electronic documentation is on a high rise due to the shift towards a digital market. It has led to the requirement of a coherent system that organises, stores and, creates documents electronically. Electronic Document Management System fits this role perfectly.
With a potential market size of $10.14 billion, it has become a pathway for a professional outlook. The management system provides many features which overcome the pain points of the traditional methods of documentation.
Any sector that requires documentation in any form uses EDMS. Most commonly, large and medium-sized companies, the Government sector, and non-profit organisations leverage the equipment extensively.
There is a reason why EDMS has a high demand in the market. The benefits a company witnesses on using it are below.
The primary concern in documentation is losing your data. The mishap can happen with one computer crash or attack of a virus. Many companies before the introduction of EDMS faced a high amount of losses because of this minor drawback. If you store your documents and records in a cloud-based EDMS, you can retrieve any lost document or record.
A better alternative is backing up your data. EDMS allows you to backup all the records and protects them under heavy encryption. You can also track the records back through recovery in case of losing them.
In a survey, over 49% of employees faced issues in locating the documents. Physical storage cabinets mean increased inventory costs. Through EDMS, you save on a lot of storage as everything is stacked up in one software. Plus, investing in a management system is a lot more economical than the construction of cabinets which may not be necessary after a point.
Consider you are using the traditional method for documenting your files and records and need to find a particular document that is lost. Now, scanning through every cabinet is time-consuming. In addition, there is no certainty in locating the document. Here is where EDMS saves time and increases productivity. Searching for the desired document is as simple as typing its name in the system. This leads to faster delivery which in turn ensures satisfied clients. It improves the overall organisational outlook of the company and generates a sense of productivity as well.
The primary reason most enterprises are hesitant in adopting digital systems is because of security reasons. With documentation, the confidentiality of records is a major concern. EDMS provides a sense of relief with its enhanced security system. It includes encryption facilities and extensive access controls, thus reducing the chances of infidelity. The system also alerts the user if any device has viewed the document with complete backtracking.
Remote work has entered the market extensively, with collaborations taking place on an online platform. While editing the same documents is a repetitive action – the entire process can be made user-friendly by using EDMS. It enables easy collaboration by authorising and accessing from both ends. On completion, the document can be shared via email.
To align your financial goals with profit, inculcating EDMS is an excellent method. Paper documents and storage are pricey when one contemplates it for the long run. There is the need to consistently restore inventory while EDMS is a one-time investment. It cuts cost (with extra added benefits) and eliminates the need for physical document management.
Emails have made a breakthrough in the way business functions, but when it comes to collaborations, emailing back and forth the same document is time-consuming and confusing. Moreover, it adds to the security issues. EDMS is beneficial in this case because it eradicates the need to send emails for distribution.
Content holds a valuable amount of weightage. It involves considering multiple variables like formatting, naming, and controlling. Therefore, an EDMS allows efficient template management and distribution facilities, generating consistency in the content. The role of the equipment is to ensure the content is presented in a uniform and relevant manner, which aligns with the objectives of information sharing.
Adapting to the digital system can provide long-term benefits and a fresh approach to the functioning of the documentation. With increased efficiency and productivity, EDMS capabilities can boost the working of your organisation.
As you begin integrating your functions with EDMS, consider building a complete digital ecosystem with other services like mail management, e-delivery, managing forms, etc. This shall further streamline your operations and prime you for exponential growth.
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