Electronic documents accumulate at an astonishing rate, and as a result, companies face numerous challenges in managing them. From improper storage and difficulties in finding important documents to security and compliance issues. Such problems not only threaten a company's operational efficiency, but can also lead to significant financial losses, non-compliance with legislation and compromised security. In this context, DMS solutions or document management systems are essential for ensuring sustainable growth and competitiveness of businesses. And how? Let's take a look.
Managing an increasing amount of data
According to Statista.com, the volume of data is expected to grow to more than 180 zettabytes by 2025. In the face of ever-increasing amounts of data, companies are faced with a major challenge: how can they manage, organize and store it effectively? DMS enables centralized storage and better organization of documents. This means easier access from anywhere and at any time with advanced search functions, which contributes significantly to faster and more efficient information management.
Improved collaboration between colleagues
Multiple users can access, update and share documents at the same time. No need to wait for and exchange paper-based documents. This simplifies many workflows, such as employee onboarding, performance reviews, development interviews, competency assessments, policy updates and other HR processes. At the same time, it enables better collaboration regardless of the employees' workplace location.
Improving employee productivity
A recent study by Coveo shows that the average employee spends 3.6 hours a day searching for information. This loss of time has a direct impact on productivity. It is therefore crucial to provide employees with quick access to the information they need. DMS enables quick and efficient search of documents by keyword, date, author or other relevant metadata, saving employees valuable time and improving work efficiency.
Dealing with pressure in the workplace
The pressure to find important documents or the latest version of a document in tense situations can lead to stress and inefficiency. With advanced features such as tagging, indexing, versioning, and automated archiving, DMS ensures that the right documents are always within reach, even in stressful situations.
More than 81% office workers can’t find an important document “when a boss or client has put them in the hot seat. Of those, 31% office workers often struggle to find documents they need in a tense moment at work.
Source: Wakefield Research/Elastic, 2021
Ensuring business continuity
In uncertain times, ensuring business continuity and maintaining relationships with customers and partnersis of paramount importance. A modern DMS solution enables document sharing and real-time collaboration, which is crucial for an agile and rapid response to change. In addition, DMS provides data backup and recovery, protecting your business from the loss of important documetns in the event of unforeseen circumstances.
72% of IT decision makers said that document sharing is one of the most important features of digital document processes and tools to support their organisation’s business continuity and agility.
Source: Forrester, 2020
Promotion and acceptance of the digital transformation
Accepting and mastering the digital transformation is essential for progress and maintaining competitiveness. A study conducted by Forrester in 2020 found that companies that have fully converted to digital processes achieved five times more improvements in ensuring the continuity and resilience of their business operations than companies that are not digitized.
Digitizing documents and processes with DMS means faster processing, better access to information and fewer errors, resulting in greater overall efficiency. DMS ensures that your data is stored securely and that document management complies with legal requirements, reducing risk and increasing customer confidence.
Therefore, DMS directly contributes to the efficiency, productivity and resilience of the business. This technology is not just a tool, but a driver for successful business in the digital age.
45% of employees believe their organization's document management is outdated
Source: The Harris Poll/Glean, 2023
Do not let outdated systems slow your business down.
Consider implementing a modern DMS solution to achieve these goals. Your first step towards can be a 30-day free trial of InDoc EDGE.