Why a document management system is required to successfully grow your business
A document management system is an essential tool for upcoming businesses that want to grow in scale, increase efficiency, and maximise profitability. If you want to take advantage of the benefits of modern technology, investing in a good document management system can save your staff time while improving performance.
Document management systems like Spindle Document Management can be used to capture, store, organise, and distribute documents from a single dashboard. In this article, we’ll explore what document management systems are and why a document management system is required if you want to grow your business successfully.
What is a document management system?
A document management system is a type of software that helps businesses to manage their documents. A good document management system will allow you to store, share, and track your documents from a single interface. This can be helpful for businesses that want to improve efficiency and maximise productivity without increasing their costs significantly by hiring more staff. In fact, correctly implementing document management systems can help companies to reduce their overheads by minimising the time that staff spend on simple administrative tasks.
If your organisation doesn’t have a document management system like Spindle Document Management at its disposal, you’re already making your staff work harder than they need to. A document management system is required if you want to grow your business because it can facilitate the expansion of your company’s output without requiring excess resources, staff, and expertise. By automating and streamlining document management, communication, and validation, you can make sure that your company’s documents are both safe and accessible in equal measure.
6 reasons why a document management system is required for growth and success
If you’re still not convinced about the impact that a document management system could have on your business, here are six reasons why a document management system is required if you want to expand your business and increase profits in the long run.
1. Save time and money
It’s the number one reason why we recommend that all of our clients invest in a good document management system. Document management systems save your organisation countless hours of time, which is equivalent to thousands of pounds in wages and overheads every year.
Using a document management system, managers and administrative staff can quickly and easily find the documents they need without spending time browsing through filing cabinets or email inboxes. Lost documents become an issue of the past, and simple manual tasks like filing and tracking can be at least be partially automated, freeing up your staff to spend more time on tasks that really matter.
2. Improve communication
A good document management system can help to improve communication within your organisation by simplifying the sharing of files and documents. This is especially important for businesses that have multiple offices or branches or if you’re planning to expand your business to a new location.
With a centralised document management system, all staff have instant access to the latest versions of company documents, improving communication and preventing the duplication of work. This saved further time and money and demonstrates to clients, staff, and stakeholders that you run a well-managed business that they can trust.
3. Secure your documents
Document management systems also make it easier to keep your documents secure. All documents stored in the system are password protected and can be accessed only by authorised users. This helps to keep your confidential data safe from prying eyes and accidental deletion and control security clearance for data at all levels.
This is particularly important for companies that frequently handle confidential client data or answer to financial institutions that enforce strict regulations relating to the storage and security of documents. Some document management systems even offer auditing features that allow companies to perform a practice self-audit in preparation for upcoming third-party audits.
4. Track documentation from start to finish
If you use paper documentation or simple filing systems without the sophisticated tracking technology of document management systems, it’s easy to lose track of your documents mid-journey. If multiple documents are filtering through your organisation, each one requiring various stages of review before it can be signed off, how can you track their progress without losing time?
Document management systems make it easy to track the journey of documents as they’re passed from one team member to another. Quickly identify which documents are in need of review, re-route documents to other staff members when necessary, and make sure that nothing is lost during the process.
5. Access documents at any time, from any place
For contemporary businesses, digitising document management is the only way to embrace new ways of working. By converting all of your paper-based documents into digital files and storing them in a secure document management system, you can access them at any time, from anywhere in the world.
This is perfect for businesses that have employees who work remotely or for companies that are expanding their operations into new countries. With a good document management system, you’re not tied to one place, and your staff can enjoy flexible, on-the-go working without compromising on security or efficiency.
6. Eliminate unnecessary paperwork
If your company cares about its waste output, switching from document storage to a document management system is an effective way to eliminate unnecessary paperwork from your operation. By digitising your documents and storing them securely in the system, you can rid yourself of all the excess paper that’s cluttering up your office space and causing unnecessary environmental waste. Not only is going paperless good for the planet, but it’s also good for your organisation’s all-important green credentials.
Get in touch
If you’d like to know more about Spindle Document Management or other software solutions that could make expanding your business hassle-free, contact us today at Draycir. We’re here to help you find the right IT solutions for your business.