An important part of running a profitable and productive business is implementing tools that allow employees to work smarter. That’s why many organizations are always looking for the next game-changing enterprise software. Document management systems (DMS) are arguably are one of the most important tool modern businesses should implement.They are intuitive, feature-rich, and offer a host of benefits to different employees.
Executives can make smarter decisions
Company leaders are much more effective at their jobs when data is stored in a centralized DMS database. That’s because they won’t have to sift through dozens of outdated folders and follow up on missing records. The DMS software updates documents in real-time and organizes them in folders, giving executives easy access to the files they need.
A centralized system also means executives can search for documents by simply entering keywords in a search bar much like how they would on the internet. Additionally, integrating DMS with business intelligence software enables key decision makers to distill rich insights from their data and create well-informed strategies.
Accountants enjoy streamlined processes
Most accountants struggle to keep up with their tasks largely because everything is done manually. DMS fixes that by automating crucial steps, such as processing paperwork, approvals, and payment.
DMS workflow automation features let accounting teams design routines that are instantly triggered when certain conditions are met. For example, when an invoice is processed into the database, the DMS forwards it to a manager and prompts them to verify the transaction. Approved invoices then trigger your accounting system to schedule payments and record the information in your company’s general ledger. This saves your employees from grueling paperwork and makes sure payments are made on time. Best of all, workflow automation can be applied to other areas of your business, including customer service, sales, HR, and more.
Admins are free from data entry
Clerical work is riddled with time-consuming data entry tasks that are prone to errors. These small mistakes can have a ripple effect on your entire company. For instance, when finance departments get the wrong information, they may pay incorrect amounts and cause issues with vendors and customers.
Top-notch DMS software provides advanced document capture methods so your administrative staff never has to spend hours on data entry. Document capture uses optical character recognition (OCR) and machine learning technology to process the information within a document and instantly populate your database. The DMS even shares this information with your accounting and customer relationship management (CRM) software, ensuring data is consistent throughout your company.
Compliance teams ensure industry best practices
Every business must know how documents are handled to comply with stringent guidelines like PCI DSS and the Sarbanes-Oxley Act. But without DMS, keeping company processes in line with internal and external regulations is a difficult task.
DMS software is loaded with audit trail features that track document versions and editing histories so you can check whether data management practices are up to par. Compliance officers can also program the DMS to track document retention periods and keep your company compliant with industry-specific standards.
IT technicians get a flexible system
Cloud-based DMS software gives IT departments a robust storage system that scales on demand. Unlike on-premises servers, DMS software runs on remote data centers. The software can be deployed from virtually any internet-connected device in seconds — users simply need to fire up a browser or download an app.
In-house IT teams can rest easy knowing that cloud-based DMS software is looked after by a team of specialists around the clock. And since the software is secured by advanced threat prevention (ATP) systems, encryption, and automatic updates, your technicians are freed up to pursue more important projects. The most they have to do is provision enough storage space and set access restrictions for each user to prevent capacity issues and internal leaks. All of this can be managed from a centralized console.
DMS is a powerful solution that can make life easier for all your employees. If these benefits appeal to you, consider implementing PaperSave DMS. It’s an affordable cloud-based application that can be customized to fit your requirements. Schedule your live demo today to learn more.
Download Our White Paper!
You only need one great reason to make a positive change; we have nine! Read our white paper and learn theTop 9 Reasons to Go Paperless!