Stuffed file cabinets and boxes filled with documents have long been a part of many office environments. But, many businesses are finally starting to move away from physical papers, digitizing and organizing their documents with the help of electronic document management systems, or EDMS, for short. Could your business benefit from an EDMS as well? This guide will help you find out.
What Is EDMS?
As explained above, EDMS stands for electronic document management system. This is a digital platform designed to help businesses store, manage, and organize the many documents they deal with on a daily, weekly, and annual basis – all of those contracts, reports, employee agreements, invoices, and so on.
There are lots of different EDMS platforms and providers out there, with varying feature sets and functions. But they mainly focus on:
- Converting physical documents to digital files
- Indexing and organizing digital versions of documents
- Making it easier to search for, find, and share specific docs
Investing in an EDMS is a major step towards the fabled “paperless office” that many businesses are striving towards. It won’t necessarily erase the need for physical documents, but having digital versions of all your most important papers will certainly help ease your reliance on real-world papers and filing cabinets.
Signs You Should Consider an Electronic Document Management System
Now you know what an EDMS brings to the table, let’s look at some of the common signs that indicate your business should consider investing in one.
You Have a Hard Time Finding Documents
This is one of the most obvious signs that your existing document management system isn’t serving you well. If workers are having to spend hours digging through boxes and cabinets in search of a specific piece of paper, rather than knowing exactly where it is and being able to retrieve it instantly, that’s an issue.
It’s a problem many businesses encounter, and many waste close to 20% of workers’ time looking for info either physically or digitally, instead of doing more useful, important tasks. When you switch to an EDMS, that time can be saved as you’ll find it far easier to locate any doc you need with minimal delay or hassle.
Workplace Morale Is Suffering Because of Document-Related Issues
Too many offices have slow or outdated document management or storage systems but don’t feel compelled enough to invest in an EDMS. That’s a big mistake, as those outdated systems may not only be harming productivity but also damaging your team’s morale as well.
Many studies and surveys show that workers are frustrated and angry when they feel their time is wasted. So, if they regularly have to spend a major portion of their workday hunting down documents, they’re likely to become annoyed and therefore less productive and committed to their roles.
You’re Concerned About the Threat of Disasters and Emergencies
If you have a large number of paper documents, without any digital copies stored on your computers or in the cloud, you’re playing a risky game. All it takes is a sudden disaster such as a flood, a fire, or criminal activity, and you could lose those documents forever.
That could then lead to a cascade of other related issues, like compliance failures, damage to your business’s reputation, and even the threat of legal action if very important contracts and documents are lost for good or fall into the wrong hands. If you invest in an EDMS, however, you’ll have backups of all documents, just in case a “worst-case scenario” becomes reality.
You Have Worries About Security or Compliance in Document Management
This ties into the previous point, and it’s crucial to consider for businesses that work in highly-regulated industries – finance, healthcare, etc. In these fields, there are often strict compliance regulations you have to abide by, especially regarding how you handle and store important data, like customer details.
If you fail to follow those guidelines, your business could be at serious risk of fines or even legal actions that could see it shut down. Using an EDMS is a good way to ensure compliance and secure your most important documents while protecting them against cyber-attacks.
Your Business Is Growing
Growth is one of the top aims of any business, and rightfully so. Large businesses bring in more money than smaller ones, of course, but also may be generally more stable and secure, as they have to service more customers, maintain a bigger market share, and keep an edge over smaller, up-and-coming competitors.
But it’s not all smooth sailing and benefits. As businesses get bigger, they also become more challenging to run and manage, especially in the document department. You’ll likely have an increasing amount of documents of different types to handle each day, and that means even more time wasted when looking for individual files and making sure they’re all secure and organized. An EDMS helps you manage the growing collection of documents in your firm more easily and fluidly.
Productivity Levels Aren’t Where They Should Be
A lot of businesses have productivity targets that they need to reach to generate enough revenue for survival and growth. But if you’re struggling to meet those targets due to seemingly endless searches for vital information, your document management system might need an update.
Often, workers aren’t as productive as they can be if they’re spending time hunting down documents, trying to find specific or the latest versions of a document, struggling with confusing folder naming conventions, or don’t have the right access controls to obtain the docs they need. All of these issues are remedied with a good EDMS.
Invest in the Best EDMS Today
If any of these signs or situations feel familiar, and you recognize your own business in one or more of the points listed above, the solution is clear: make the change and invest in an EDMS today. It will transform the way you work with documents, boost productivity and morale, and drive your company into a stronger, more future-proof position.
Metro Sales can help you pick the perfect EDMS, just as we’ve helped various businesses around Burnsville, Twin Cities, Fargo, Duluth, and St. Cloud. Get in touch with our team to learn more.