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Reasons to Use Document Management Software Electronic or paper, documents are a vital component of most enterprises. Managing business data, typically from varied sources, can be a humongous task. Depending on the type of company you have, a document management solution that processes, saves, and retrieves all kinds of documents can offer a whole range of benefits. Here are the most crucial advantages document management systems deliver: Storage Cost Efficiency
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Commercial property costs are soaring and so are the expenses incurred to store traditional documents. A software-based document management solution can decrease the need for storage cabinets, boxes and the like, and free up office space that can be used for other important purposes. Documents that should be kept as hard copies can go into a vault, offsite warehouse or any inexpensive storage location.
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Solid Security Document management software makes it easier to secure sensitive documents. Access to files may be controlled at the folder level for various group or individual users. Also, this type of system leaves a record of transactions involving the stored documents, including details such as time and date of access and any changes made. Additionally, managed documents may be set to send preprogrammed alerts. Better Regulatory Compliance Compliance requirements for particular documents can be pretty convoluted. Non-conformance can result in a revoked license, fines, and in some cases, even a criminal charge. The right document management software can help you controls such risks, with such features as automated record retention scheduling, automatic classification and storage of new documents, and many others. Faster Document Access Looking for documents can take a lot of time, and of course, time is money. Statistics indicate organizations pay someone some $20 just to file a document, $120 to find a misfiled document, and about double that amount to reprint a missing document. In short, document management software suited to your business can save you time and money. Improved Inter-department Functions The very framework of document management systems makes information sharing and collaboration a lot easier. Access to documents can be done by several users from several locations, all at the same time. Users can also share documents online. With the systems making business processes more visible, monitoring of workflow also becomes easier and more effective. More Effective Backup and Disaster Recovery Process Good document management solutions come with a data backup and disaster recovery plan. Documents can be protected from flood, fire and other disasters through digital archiving. All documents are also easily traceable and searchable with the use of different criteria. If you use the right document management software, various benefits will indeed await you and your entire organization. And with each system having unique features, you have to take time selecting the right one, ensuring that your specific needs will all be met.

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