What is Document Management? Obviously these words have been thrown around for decades. Document Management does not mean "paperless office." A paperless office is almost impossible to achieve for most companies. After all, vendors mail invoices and they send faxes, and these documents must be managed. This is what document management is all about. Document management is all about trying to take modern scanning and filing technology and applying our standard business practices into this model.
What do people think when asked what "document management" is all about? Some will think document management is simply scanning documents. Others will talk about more robust solutions which can cost $50,000 or more. We would like to propose that any worthwhile document management system will have 4 components.
No matter what your industry or size, gaining control of all documents is critical to every organization. Ever-expanding government regulations require effective and auditable control systems for all documents and communications—both paper and electronic. Competitive pressures require that organizations become more efficient and responsive in order to survive and thrive.
As the volume of documents within your organization explodes, managing these documents can be a real and pressing challenge. If your organization is like many others, paper documents, emails, faxes, PDFs, CAD and other office documents are left unmanaged and stored in filing cabinets, on file servers or on desktop PCs around the office. This exposes your organization to compliance risks, service delays, cost overruns and a host of other challenges. However, you don’t have to grapple with old-fashioned paperstorage systems or deal with electronic files scattered all over the place to manage your documents. Today, software solutions are available that combine document and records management capabilities into a single, complete offering. These solutions enable you to reduce the time, cost and complexity of storing and accessing your documents throughout the information lifecycle. They also give you the power to improve access to critical documents, enhance customer service and operational efficiency—all while reducing risks and addressing compliance demands.
According to the Association for Information and Image Management (AIIM), the international authority on enterprise content management, unstructured information typically represents 80 percent of the overall documentation and information that surrounds a business process. For even small and medium size organizations this is a staggering amount of data, making it essential yet challenging to manage and control.
What’s driving organizations such as yours to better manage and control unstructured information? According to AIIM, the biggest drivers are associated with costs, users and risks. If your organization can identify with these business drivers, then it’s likely that you can benefit from a document management solution. This should be thought of strategically from both an offensive and defensive perspective. From an offensive perspective, to remain competitive and efficient you should have a document management solution to optimize business performance. From a defensive perspective, to address compliance and mitigate other business risks you definitely should incorporate a document management solution into your strategy.
Did you know that many companies do a better job managing and securing their office supplies than they do their business-critical documents? It’s true. The electronic documents that are the very lifeblood of the modern business are all too often taken totally for granted. Very few businesses take the time to consider the expenses that they incur on a daily basis because of:
Likewise, few businesses take the time to consider the considerable risks that they expose themselves to on a daily basis because:
If you answer yes to any of these questions, chances are you need a document management solution.
Here are some things to consider when deciding what features you need in a document management system:
Do the users ever have to search through long documents for specific information?
“REMEMBER,” Manage your business, not your paper”