Between local servers and cloud storage, your business probably has thousands of electronic files to manage. If you’re using traditional document storage solutions, you might be missing out on a lot of useful information in those files. A robust document management system (DMS) could change that. Unlike simple electronic storage, DMS solutions let you index, search, and audit each document’s contents. Over time, this could help your business automate workflows, improve cybersecurity, and make strong business continuity plans.
To implement a DMS, you can buy ready-made software, build on open-source systems, or design a custom solution. However you go about it, a good DMS can help extract and analyze data while minimizing tedious manual input. That could lead to smarter insights and a more efficient business overall. You already have plenty of useful digital information. A DMS can put it to work for you.
DMS vs. document storage
Traditional document storage and DMS platforms are both ways of storing and managing electronic files. However, DMS offers additional quality-of-life and cybersecurity features.
Both traditional document storage and DMS platforms can save and share files. They can also search metadata and allow or restrict file access to certain users. A DMS can go further by automatically organizing and encrypting data. It may also index text within files, and offer precise version controls.
Having a DMS rather than document storage is important if your organization needs to digitize paper documents. If you scan physical records and simply upload them to a shared server, they may not be much easier to find than sheets of paper in a filing cabinet. A DMS solution can make your records have indexable, searchable text. That’s good for quick access, and even better for data analysis.
Did You Know?:Ricoh products are compatible with a variety of DMS solutions, including DocuWare, Laserfiche, and OpenAxes. Click here to learn more about our technology partners.
How DMS improves business efficiency
Organizing files and indexing data go beyond simple convenience. For example, suppose your business ships products to customers, and you keep a digital record of each order. You want to analyze sales from last year’s first quarter to learn about your customers’ locations and spending habits.
With a traditional document management system, an employee would have to sift through dozens of scattered records. They would have to read and collate the information in each one manually. It may not be clear if they modify, share, or accidentally delete the file. During this time-consuming process, the employee can’t perform more specialized or demanding work.
The situation could be even more precarious if a cyber criminal infiltrates your network. Traditional document storage does not automatically encrypt files. This means that an attacker might gain access to sensitive information they could steal. Without automatic backups, that stolen data could be gone for good.
A DMS can save time and effort for workers by automatically naming files and placing them in the proper folders. From there, it can facilitate keyword searches within those files. These features help businesses spend less money and operate more efficiently. By encrypting data, performing regular backups, and ensuring version control, DMS platforms can protect a business’s most important assets and establish compliance with regulatory standards.
Consider some specific ways a DMS can help transform your business operations:
Business continuity
Business continuity refers to a company’s ability to restore normal operations after a disruptive event. For example, suppose a business suffers a massive power outage, rendering all of its computers and servers inoperable for a few days. A company with a good business continuity strategy will have a plan in place for communicating the outage to customers. It will also be in a better position to make up for lost time afterward.
A DMS can help ensure business continuity in a variety of ways. DMS solutions routinely back up files, making permanent data loss unlikely. Being able to search and analyze records makes it easier to gauge your potential risks and devise solutions in advance. Additionally, a cloud-based DMS makes it easier to access files from off-site, potentially mitigating issues that affect a central office or server. The sooner your business resumes normal operations, the sooner you’ll be able to recoup costs and win back customer support.
Workflow automation
A DMS can streamline some of the most tedious tasks associated with keeping digital records. With regular document storage, your employees still have to name, organize, and tag files manually. They may have to read through multiple records to find a single piece of information or retype important clerical information.
A DMS solution can automate these workflows, leaving your employees free to focus on more interesting and demanding assignments. In effect, this allows you to get more value out of their work, since they won’t be bogged down with rote tasks. It can also help your organization scale up as you acquire more customers and undertake more complex projects. In the long run, this could make your business more adaptable and profitable.
Cybersecurity features
Typical document storage offers access controls, but these may not be enough to deter modern cybercriminals. In addition to requiring proper login credentials, DMS solutions can also encrypt files, make frequent backups, and restore previous versions. Improving your company’s cybersecurity posture can help prevent disastrous data breaches — or recover more quickly if you fall victim to one.
DMs platforms can also provide full audits of who accessed a file, when they did so, how they changed it, and whether they shared it. Having this paper trail can be invaluable if you suspect an unauthorized user in your network. It can also help you restore missing information without having to go through an IT specialist.
Compliance tools
Depending on what your company does and where it operates, your data may have to meet legal compliance standards. Consider the Health Insurance Portability and Accountability Act (HIPAA) in the United States or the General Data Protection Regulation (GDPR) in Europe, for example. These regulations dictate how private companies can gather, store, modify, and share information.
A DMS can ensure that only authorized users can see certain files. When it’s time to get rid of data, a DMS can also shred sensitive files and make them unrecoverable. From both legal and ethical perspectives, adhering to compliance standards can protect your company and your employees. Using a DMS to enforce compliance reduces the risk of human error — and of a potentially disruptive audit.
Business intelligence
Business intelligence refers to the process of turning company data into actionable recommendations. The first step in this procedure is to gather information from your existing files, which is where a DMS can be useful. With a DMS, you’ll have clean, organized, fully indexed data to start with. From there, you can run statistical analyses or create visualizations. These data modeling methods allow you to find past trends and make predictions for the future. Without a DMS, you’d have to extract data from all relevant documents manually.
Did You Know?:Ricoh’s EdgeXperience Capture Service is the industry's first ISaaS, using Microsoft's Azure cloud platform to make scaling and central management a breeze. Click here to learn more.
Trust Ricoh’s advanced document management solutions
DMS solutions can be an integral part of your company’s automation, cybersecurity, and business continuity strategies. If you’re ready to organize your records and analyze their valuable data, Ricoh’s robust document management solutions can help. Ricoh’s powerful first-party software can streamline remote scanning, cloud faxing, and form submission. Our products are also compatible with a variety of popular third-party programs, including DocuWare and Laserfiche. Contact us to learn more today.
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