Let’s get it straight; startups have become commonplace in 2019. Nearly every person you network with probably knows someone who either owns or works at a startup. This is not a surprise considering that there are 7,200 startups in India, of which 1,200 were launched in 2018!
What we believe as surprising (being in the document management industry) is that a majority of these startups still use traditional methods to store, locate, and manage their documents. So many of these startups are engaged in the tech field yet are unaware of the benefits of using DMS. We’ve compiled a few reasons why such startups should invest in a reliable DMS.
1. Aids With Compliance Policies
Few things are as terrifying as not being up-to-date with government compliance policies as a new and emerging business. Not complying with certain policies and maintaining relevant documents can be a disastrous mistake. After all, going against a policy is breaking the law, and breaking the law can damage your company’s revenue and image.
A trustworthy DMS vendor has experience in the field and will help you, as a new startup, to organise and store documents in the right manner. In the event of an audit, your DMS will help you fetch these regulatory documents at the end of a click and save you from compliance-related queries raised by the auditors.
2. Provides Security From The Get-Go
Over time, as your startup grows, you’re going to collect a stockpile of documents. Implementing a DMS at an early stage helps prevent not only the imminent hassle to transfer, digitize, and index these documents, but also ensures that you enforce security as soon as possible.
While it may seem like DMS works as an ‘antivirus’ that keeps your documents from malicious intervention, the security features are much more complex than that. Authorization of selective access to documents, prevention of accidental file deletion, complete protection against fire or water damage (to name a few) can go a long way if you implement a DMS at an early stage.
3. Advanced Backup And Storage
SaaS-based DMS easily beats traditional means of managing documents. With the rise of cloud-based document management solutions, backup and storage equals worry-free document storage and retrieval.
Every document that is uploaded to the cloud will stay secure to be retrieved as needed. A good DMS offers version tracking so that the changes in each backup can be highlighted. Multiple features make backups and storage an important and intuitive aspect of DMS.
4. Refined Internal Workflows
It is often seen that working with a varied set of people over the same set of documents can consume a lot of precious time and hardwork. Document management solutions offer the creation of custom workflows which help kill off obstacles in the path of productivity. These user and/or management created approval workflows can fasten the process of document movement between you and your colleagues. This also helps to bring in accountability in processes.
5. Convenient Pricing Models
Yes, we are aware that implementing a DMS may sound like a pricey and intimidating investment, but it doesn’t necessarily have to be. Plenty of DMS vendors offer reasonably priced monthly subscription models. Some DMS vendors offer a free trial to help you get acquainted with their product before you plan to go all out and implement the service.
This way, your startup can try out a document management solution to test for yourself how dynamic a DMS is in comparison to traditional file management. Our product, ShareDocs Enterpriser, is a tough contender among others. We offer monthly subscription models that are absolutely affordable for startups.
We recommend startups to use our cloud-based version, but we’d be happily willing to get on a phone call to discuss and help you make the best choice.