Many organizations today still stick to traditional ways of paper-based documentation when it comes to records management. However, as technology and innovations continue to affect almost every aspect of our life, similarly it does push businesses and corporations to find new ways to handle internal records management more effectively. Though, there are significant technical, operational, and financial barriers to overcome in moving to implement a robust electronic management system. However, the benefits of electronic document management infrastructure outweigh the cost and effort.
This write-up identifies 10 key compelling benefits of moving to an electronic records management system and how it may impact daily business processes.
Top 10 Benefits of Moving to an Electronic Document Management System (EDMS)
1. Enhanced Mutual Collaboration
One of the key benefits of the electronic management system in a company is, it improves collaboration between different units, departments, and stakeholders. Like many organizations around the world outsource their operations and the culture of remote working is becoming more commonplace. Thus, the electronic documents system helps to improve workflow both internally and externally through web-based applications and electronic records archiving platforms. Workforce involved in an activity can now work simultaneously on a document as companies continue to the digitization era.
2. Real-Time Task Tracking
By moving to an electronic management system, company owners and line managers can now make real-time assessments of the business operations and daily tasks and project progress. Unlike the fast, where paper-based work would take normally more time to process, electronic records management is making the process more convenient and facilitate working officials to understand where a file is at in modification process, review phase and approval process is considerably fast today than ever before.
Furthermore, one can leave comments, suggestions and recommendations live on any file electronically.
3. Fast Retrieval of Documents
Traditional ways of managing records usually consume a huge amount of time. Racks full of files and folders of records in physical makes the retrieval process more complicated and time-consuming. However contemporary tools and electronic archiving solutions providers enable people to dig out any needed file real quick.
4. One-Click Accessibility of Archived Documents
Company owners and working officials can now easily access their data and records from anywhere on the planet with the tips of their fingers. As the mobility of people increased, so does the need to access documents virtually sore up. Entrepreneurs and executives today no longer need to be worried while away from the workplace as they can get their hands on any important file anytime and anywhere.
5. Documents Security Benefit
As business entities move into the electronic infrastructure of data management, security becomes of paramount importance for business owners. Electronic archiving solutions providers in compliance with global standards of records management that strictly ensure data safety and compliance. Since documents are stored digitally which completely minimizes any possible risk of records damage, breech, and loss of important data?
6. Getting rid of Bulky old-filing Cabinets
With innovative records management solutions and services, business officials today no longer want their offices and workplace to look messy. Working your way out when files are being stocked everywhere reduces personal productivity as documents in the physical eventually pile up to huge volume with time. However, the digitization of the company records allows businesses to get rid of all those old-fashioned ways of maintaining organizational data and adopt innovative practices that optimize business activities and productivity of the human resource.
7. Better Version Control
You might have experienced working on a document for hours and then realized that it wasn’t the latest updated file. This dilemma usually happens with you are dealing with paper-based records. However, by moving to the electronic way of doing things, data archiving firms regularly maintains versions of the update as well as the history of the previous work done on any document. This way you will never find yourself lost in work and while working on the latest version of the file.
8. Ease of Documents Sharing
Long gone are days of circulating files in physical, such as a letter from the sales department, invoices to clients, and other departments. Electronic records make the propagation of any files considerably easy and super-fast. You can share any file with any stakeholder of the company and employees in real-time via email and other file sharing platforms.
9. Records Personalization
Companies deal with a variety of documents on a day to day basis. As you know, some of the documents may contain information that requires privacy and protection. Electronic management of records tools allows you to hide all sensitive files that need to be only visible to you to make sure those files don’t go out of the realm of your control.
10. Cost Effective
If you are managing a company that handles an excessive amount of data and documents that a lot of time incurs considerable maintenance cost, such as purchasing advanced software and human expertise for managing the data on-site. But by outsourcing your record to third party archiving firm makes all such expenses go away. These records management companies take your files away from your company premises, convert them to digital format and upload them to secure cloud-based records archiving repositories.
5 Electronic Archiving Management Solutions Providers [Suggestion]
This article won’t be complete if we fail to share our recommendations of top electronic archiving solutions providers as we deem it fit. So, here are the top electronic document management solution providers that you can check out going forward this year.
- Convergra: Converga is a well-established archiving solution provider that specializes in business process outsourcing with a particular focus on physical records to digital conversion and archiving.
- Archive Technologies: Archive Technologies is a professional records management company in Pakistan that specializes in both physical records as well as digital records management.
- Docuworx: Docuworx is an archiving management solution provider that specializes in records management and workflows.
- Infobuilder Technologies: Infobuilder Technologies provides robust electronic document management solutions and templates that help clients optimize their records management system needs.
- Iron Mountain: Iron Mountain facilitates organizations to ensure compliance with records management global guidelines and reduce the risk of lost records or data.
Key Takeaways
An electronic document management system (EDMS) or records management is an innovative way of storing valuable data for future use simply by leveraging technology in gathering, sorting, and reusing the acquired information.
As technology continues to keep on changing, it shapes up the way businesses go about their day to day operations. To adapt to new tools and practices of effective records management is the need of the day for companies to keep pace with emerging innovations and gain sustainable workflow growth. Managing data electronically has enormous benefits that involve records safety, easy access, and transmission of files, fast retrieval, and cost-effectiveness.
With this article, you should be bold in explaining the concept of the electronic document management system (EDMS) and the direct applications to our day to day data.
If you have further questions as regards EDMS or other similar document archiving solutions, you can use the comment section.
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I wonder if the public’s trust in cyber-security can keep up with the demand for new cloud-based access systems. Always hearing about cyber attacks. Article speaks truth though, it’s the way to go!