Why It’s Time to Update Your Document Management System

Why It’s Time to Update Your Document Management System

Printed or digital, documents are among the most important assets of any modern business, which is why the way you store and manage them can greatly impact business efficiency.

A robust document management system will help enormously when it comes to streamlining workflows, meeting your compliance regulations, and providing a better experience for both your employees and your customers. So if you’re still relying solely on filing cabinets collecting dust or, perhaps even worse, manual computer-based systems, then it’s time to rethink your document management strategy!

Get Access to the Latest Functions and Features

Most modern document management systems are cloud-hosted platforms maintained by a third-party vendor. By contrast, older platforms tend to be hosted on-premises, which introduces many additional expenses. For a start, it will be up to you to maintain, cool, and power the server-side hardware needed to run the system. You’ll also be responsible for any updates and repairs. With a cloud-hosted DMS, those responsibilities will fall to your vendor, and you’ll be able to enjoy the latest software for a predictable monthly expense.

Integrate Document Management with Disaster Recovery

Did you know that most businesses never reopen after a major disaster, such as a severe cyberattack? Imagine, for example, that a disaster renders your workplace inoperable, taking all your documents and systems along with it. If a disaster compromises legal documents, business contracts, and invoices, you could even find yourself facing litigation, not to mention a whole raft of other issues, such as severe damage to your reputation. Fortunately, all these situations can be prevented by using a centralized DMS that keeps an off-site copy of your data.

Keep Control Over Costs

Document management is an essential process in any organization, but that doesn’t mean it should be an enormous drain on your budget. However, the average office still spends $20 in labor costs just to file a single document. Furthermore, the costs increase greatly when you factor in common issues such as misplaced documents and those that need to be recreated from scratch.

If your existing system doesn’t provide the facility to consolidate all your documents and manage them through one centralized platform, then you’re going to be spending far more than you need to on labor alone.

Enhance Efficiency

A cloud-hosted document management system doesn’t just save money – it makes your business more profitable in a multitude of ways. For example, it affords staff the ability to access the information they need to do their jobs no matter where they are, which provides better flexibility and mobility. And since such systems bring everything together under a single, unified platform, there’s far better control over versioning and data accuracy, which means less time dealing with errors and more time making use of the information that’s actually valuable to your business.

Secure Your Data

Misfiling or mislaying important documents isn’t just bad for productivity – it’s also bad for security. After all, if you don’t even know where your data is or who has access to it, then there's an increased risk of it ending up in the wrong hands.

By bringing everything together under a single platform, you’ll also have much greater control over security. That’s because modern document management systems provide robust security restrictions that let you set permissions and enforce multi-factor authentication. That’s a lot less complicated (and less risky) than trying to manually manage multiple systems across a fragmented ecosystem.

PaperSave helps enhance and streamline your electronic workflow by giving you a centralized platform for managing both your printed and digital documents. Give us a call today to get started!