What is a Document Management System (DMS)?
A DMS enables you to capture, securely store, manage, and use electronic and image documents in a highly efficient way. The results are predictable, which is of the utmost importance when it comes to making things work as smoothly as possible. The document management system has a variety of components to help:
- Document and Data Storage – On premises or cloud-based secure storage keeps your documents safe and accessible.
- Viewer for Documents – Every approved user who is allowed to access the paperwork uses this feature to view, edit, and process documents or other files. Depending on the document management platform options, the viewer can display everything from basic text files to complex presentations, images, and more without the need to open the native viewer for each document type.
- Hands On or Automated Workflows – These tools help your employees use the document information in the best way possible. Depending on the company’s needs, this can include a lot of automation to speed up process turnaround time and increase productivity.
- Search Organization and Indexing – Implementing the best DMS platform means little if your workers cannot find and use them immediately when they need to. Index data, tags and more help handle, access and update everything. This includes simple search and advanced tracking options.
- Integration – Every business has multiple software platforms functioning at the same time. Integrating documents and data from a DMS with systems like CRMs and ERPs allows the business to draw reports and business insights that were previously being missed.
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Top Benefits of a Robust Document Management System
Explore the major advantages of using a DMS for all your company’s document storage, security, and functionality. Kaisenz stands ready to renew and reform your operations to make everything better.
- Access Documents Now – Every approved individual gets immediate access to the documents and data they need to do their job right.
- Full Compliance – Regulations, laws, and best business practices require compliance with a variety of specific things. The right document management system promotes security, control, and full records of compliance in all necessary ways.
- Efficient Collaboration – When everyone has access to the documents they need, people can work better together. This involves both in-house teams, outsourced talent, and customers and clients. No matter the distance, multiple people can view documents simultaneously.
- Automated Workflow – The more tasks your firm can automate, the more efficient operations become. This also reduces stress and strain for employees who will have improved job satisfaction when they can focus on more interesting and important things.
- Big Boost to Security – The right DMS offers unparalleled security features that keep your documents secure. Nothing harms a business faster than data leaks and instabilities.
- Reduce Paper Use – Digitization greatly minimizes the amount of paper and related office supplies you use on a day-to-day basis. This reduces waste, eliminates many operational costs, and helps your firm function in a much more sustainable and responsible way.
- Decrease File Space Needs – A single paper file may seem small, but hundreds or even thousands of them add up quickly. Old-fashioned offices needed whole rooms dedicated to document storage. Today’s DMS options make those things obsolete. Spend less on office space rental and reclaim existing rooms for other purposes.
Best Practices for Using a Document Management System the Right Way
Even the most advanced DMS will not provide all these benefits if you do not use it properly. Everyone involved in document creation and handling needs to stay on the same page when it comes to using it effectively. This is another great reason to outsource activities to a dedicated team.
- Create Standard Operating Procedures – Get everyone on board with the best methods for DMS usage. Train employees. Integrate with outsourced teams. Promote consistency.
- Digitize Documents Immediately – Make sure every document created is entered into the management program right away. Emails, contracts, invoices, and more must be scanned and added without delay. The system only works well if teams can access everything when they need it.
- Adopt New Effective Processes – Hardcopy handling methods will not work for new digital solutions. Create streamlined workflows that use all the features of the new DMS platform.
Regulatory Compliance
Various rules exist globally to govern data and document security and privacy around the world. Any document management system must comply with these rules in order to provide the greatest benefit without risk of breaches or legal consequences.
PIPEDA protects consumer data in Canada. The Personal Information Protection and Electronic Documents Act began in 2000 and covers everything from health information to credit reports, employment records to simple identification data. If your organization operates across North America, it needs a document management program that complies with this and the above regulations.
The two main compliance protocols required in the United States include CCPA and HIPAA.
The CCPA or California Consumer Privacy Act stands as the strictest privacy law in the US at this time. While it covers only CA residents legally, its requirements reflect good business practices and highly effective security measures that make sense for all organizations. It governs things like data protection, transfer requirements, sale to third parties, and notification of any breaches or other issues.
Similar rules stand behind HIPAA or the Health Insurance Portability and Accountability Act. This focuses on data protection for the healthcare industry. Any organization that has access to patient records – financial, medical, or personal – must comply with HIPAA regulations.
In the European Union, these regulations are governed by the General Data Protection Regulation or GDPR. Since 2018, it has provided protection for EU citizens. Companies anywhere in the world who handle their proprietary information must comply. It simply makes sense to choose a DMS that offers full regulatory compliance as standard with its other exceptional benefits.