Every business starts small. Limited workforce, tight funds, restricted real estate—the constraints keep adding onto your challenges. Thankfully, today’s technology is centered around combating some of these issues, all in a bid to make it easier to start a new business.
One such technology that can check off some of these limitations is called a document management solution (DMS). DMS is a great option for small businesses that are trying to upgrade their document organization while saving time, money, and other resources as an added advantage. If you’re a small business, here are four reasons why you need to implement a DMS:
1. Better Document Organization
A key feature of DMS is to improve the status of document organization at your workplace. Going paperless has tons of advantages over sticking to physical document storage. Gone are the days when you had to manually sift through documents to sort and store them. A well integrated DMS does it for you so that you can spend your time and money on completing more productive tasks.
File organization, thanks to DMS, also extends to document retrieval. Need a specific file urgently? Don’t fret—just search for keywords contained within your document and your DMS instantly pulls it up for your access. This simple storage/retrieval system saves your business countless numbers of hours which can be used for much better purposes.
2. Document Loss Prevention
Small businesses start out with a small workforce, meaning that if you don’t have a lot of employees, you could easily lose track of documents. Some of these documents are prone to being misplaced, or worse—they could go entirely missing. Document management solutions outright prevent this from happening. Everything is stored digitally and can be retrieved without the data ever going missing.
Additionally, your business could be susceptible to a disaster. Your disaster recovery plan must include the implementation of a hybrid/cloud-based DMS. Physical paper will not outlive a disaster, but digitally stored documents can be recovered even in the midst of extreme events. Keeping data safe and secure can guarantee the restoration of your business.
3. Business Compliance
The aforementioned indexing features can seriously aid your company when it comes to compliance. Paperless offices outperform traditional offices when it comes to auditing processes. DMS also allows you to grant employees level-based access to files, so that you won’t be giving access to sensitive documents to just about everybody. All of these, in combination with a compliance-ready DMS vendor, can help you stay ahead of legal matters.
4. Reduced Document Management Expenditures
A DMS digitizes all of your documents, eliminating the need for paper, copying, and printing. While these may not seem like inconveniencing expenditures, they can quickly add up to a large sum over the years. Filing cabinets are expensive to maintain, but a hidden cost you may not be considering comes from the space they take up. Since document management solutions get rid of the need for filing cabinets, you are also clearing out this precious space for better productive needs.
Now that we’ve listed the advantages of implementing a DMS for a young business like yours, it’s your turn. We run a blog that lists out more information on DMS, and we’re always up for a consultation on call. Ask us anything—and since you are going to look out for a DMS, let us help you make the right choice. You can contact us here.