Nowadays, most of your business operations depend on some kind of computer program, including document management.
To effectively manage and control the most crucial information of your organization, you need to adopt and implement the right electronic document management system (EDMS).
Today, we’ll cover everything you need to know about this process, including best practices and what you should look for in document management software.
What is electronic document management?
Document management is the strategic discipline of storing, categorizing, sharing, and organizing your business information to meet your business goals.
So, electronic document management refers to the use of computer software or digital filing to make this process more efficient.By digitizing paper documents and storing them in the cloud, you’re able to find information faster, as well as make it more readily available to others who may need it.
But electronic document management isn’t just about being cloud-based. It’s about standardizing your document-related business processes and providing clear guidelines to handle documentation, so you can be prepared even for something like disaster recovery or providing information for audit trails.
When you have a defined path of action for each step in your document management or records management process, you can solve problems faster, innovate more often, and make better decisions.
To make all of this possible, document management systems provide a wide range of features, including:
- Internal search: find digital documents immediately by typing key terms in a user-friendly search bar
- Communication: centralize your communications in a single place
- Archiving and retrieval: archive and restore critical documents at will
- Version controls: explore the different versions of your documents
- Metadata: segment documents based on summarized information
- Storage and categorization: categorize your documents based on specified criteria
- File sharing: share files with relevant key members and stakeholders
Before we explore these features in more detail, let’s quickly answer a crucial question.
Why is online document management so important for modern organizations?
On average, teams waste 5 hours per week waiting for information.