Document Management is a method of storing information electronically. Paper based information is converted to a digital format and existing digital information is tagged so that it can be identified readily.

A document management system can be akin to a library. It holds all the information that is required by an organisation, letters, publications, invoices and when it is required you ask the librarian for the relevant document. The librarian will then search for the documents using indexed information that you have provided.

Benefits of a Document Management System.

Complete Overview

All of the company documents and  information is collected in one central document pool – no matter what the document type.

Improved Information Access

Through smart indexing and storage, documents can be searched by keyword, with the help of select lists or in full text mode.

Worldwide Access

A user is able to access documents from any PC in a network, or from anywhere in the world. Document management works for you 24 hours a day, 365 days a year.

 Additional benefits of using a Document Management System (DMS)?

Reduced Storage

The cost of commercial property and the need to store documentation for e.g. retrieval, regulatory compliance means that paper based document storage competes with people for space within an organisation. Scanning documents and integrating them into a document management system can greatly reduce the amount of prime storage space required by paper. It also allows any documents that still have to be stored as paper to be stored in less expensive locations.

Flexible Retrieval

Retrieving documents stored as hard copies, or on microfilm absorbs time. A DMS increases creates electronic images of documents and stores them centrally. Less time is spent locating the documents as they can be retrieved without leaving a desk. DMS users can also access other systems available from the desktop at the same time as retrieving documents. With paper-based solutions documents are often removed from storage and taken back to the desk to access other systems (which can lead to loss, prevents others finding the same file, can be viewed by others).

Flexible Indexing

Indexing paper and microfilm in more than one way can be done, but it is awkward, costly and time-consuming. Images of documents stored within a DMS can be indexed in several different ways simultaneously

Improved, faster and more flexible search

Document Management Systems can retrieve files by any word or phrase in the document - known as full text search - a capability that is impossible with paper or microfilm. A DMS can also apply single or multiple taxonomies or categorisations to a document of folder that allow documents to be classified and stored in more than one way from a ‘single instance’ – something which is not possible with paper or microfilm.

Controlled and Improved Document distribution

Imaging makes it easy to share documents electronically with colleagues and clients over a network, by email or via the Web in a controlled manner. Paper documents usually require photocopying to be shared, and microfilm requires conversion to paper. This provides a cost saving by reducing the overheads associated with paper based document distribution, such as printing and postage and removes the typical delay associated with providing hard copy information.

Improved Security

A DMS can provide better, more flexible control over sensitive documents. Many DMS solutions allow access to documents to be controlled at the folder and/or document level for different groups and individuals. Paper documents stored in a traditional filing cabinet or filing room have the same level of security i.e. if you have access to the cabinet you have access to all items in it. A DMS also provides an audit trail of who viewed an item, when – or who modified an item and when, which is difficult to maintain with paper or microfilm based systems. A DMS also removes the possibility of having confidential material or trade secrets lying around unattended in an office.

Disaster Recovery

A DMS provides an easy way to back-up documents for offsite storage and disaster recovery providing failsafe archives and an effective disaster recovery strategy. Paper is a bulky and expensive way to back-up records and is vulnerable to fire, flood, vandalism, theft and other ‘Acts of God’

No Lost Files

Lost documents can be expensive and time-consuming to replace. Within a DMS, imaged documents remain centrally stored when being viewed, so none are lost or misplaced. New documents are less likely to be incorrectly filed and even if incorrectly stored can be quickly and easily found and moved via the full-text searching mechanisms

Digital Archiving

Keeping archival versions of documents in a document management system helps protect paper documents, that still have to be retained, from over-handling and keeps electronic documents in a non-proprietary and native format, such as Microsoft Word or Excel

Improved Regulatory Compliance

The risk of non conformance leading to fines, a withdrawn licence to operate, or in certain circumstances custodial sentences when an audit takes place is reduced and in most cases removed. A combination of security control, audit trails, archiving and disaster recover ensure that an organisation is able to authenticate the validity of information stored and demonstrate compliance with regulations and requirements.

Improved Cash Flow

The increased productivity of processing document-based processes such as invoices, debt collection and other "cash critical" business documents, ensures that the flow of cash can be controlled centrally and all documentation required to make cash flow decisions can be accessed immediately

Other less 'tangible' benefits of a DMS might include;

Improved Internal Operations

 The reduced time to complete processes provided by the tangible benefits, improves the day to day operations of all functions within an organisation, leading to an improved flow of information, an increased perception of staff in their ability to solve questions and tasks and a general ‘feel good’ factor.

Competitive Edge

The same information that was previously stored as paper or microfilm, can now be distributed to customers and target audiences electronically. The ‘reduced time-to-market’ effect can be for products, services, support – all of which improves the impression the external recipient has of the organisation and provides a competitive edge over your competitors (or it removes a competitive disadvantage if they have already deployed a DMS).

Improved customer service and satisfaction

Reduced response times, a more professional response, a more accurate response with more controlled processes reduces the time spent on ‘manually’ ensuring customer satisfaction and allows staff to allocate resource to other core business activities.

Preserve Intellectual Capital - Organizational Knowledge

New or changed documentation can be ‘pushed’ to employees and no longer relies on ‘hallway conversations’ or ‘round robin’ emails. The locality of information is not locked away in the ‘heads’ of specific individuals and can be easily shared across departments and physical locations increasing the value of that inform