What Is Document Management?
Document management is a set of practices that define how an organization manages, stores and tracks its documents.
By implementing a process or system to enforce these practices, an organization can empower itself to more effectively maintain a secure, centralized and organized environment for its content.
Core Features
Documents come in a wide variety of formats, from contracts and forms to images and emails. However, whatever form documents take, the principles of document management stay consistent. The common components of document management include:
Common Document Management Challenges
Businesses process incredible amounts of data every day, with some estimates putting that daily amount at 163 terabytes. This creates a few challenges for firms that don’t manage their documents properly. These challenges may include:
Why Get a Document Management System?
Digitization is one of the best ways to standardize and enforce document management practices. Here’s how:
The right document management system can make almost any document full-text searchable. This makes it easy — and increasingly effortless with developments in machine learning and AI — to find information when it’s needed.
Organizations may regularly handle sensitive information about customers, clients or vendors when communicating with them. The right document management system can help ensure information is shared securely and privately.
Most document management systems allow administrators to set security controls for content on an incredibly granular level—ensuring authorized users can access the information they need, and no one else.
Many document management systems provide audit trails: logs of system activity that include document edits, login attempts and user permission changes. This functionality helps to show auditors that your organization is following regulations.
Cloud technologies, combined with the security that advanced document management systems can provide, offers a secure and effective way to ensure information can be communicated between project stakeholders, no matter where they are. Additionally, many cloud systems automatically back up content, providing a foundation for quick recovery in case of a disaster or disruption to business.
Additional Resources
Discover additional resources showcasing the benefits of document management.
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