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Wednesday, Nov 05, 2014

What Are the Benefits of Electronic Document Management Solutions?

Benefits of Electronic Document Management Solutions

Imagine a room lined with dozens of filing cabinets, each covered from top to bottom with folders stuffed with important documents. Now, imagine yourself sorting through this mess, searching for one set of papers relevant to your business. Unless these files have been organized by someone with care and precision bordering on the obsessive, chances are high that you’d be looking for the proverbial needle in the haystack … and end up with an awful migraine in the process!

The solution to your problem lies in an electronic document management system, which will bring you a few steps closer to the paperless office you’ve always dreamed of.

Enter the world of analytic dashboards and cutting edge business analytics. In a single deployment, you will have access to a world of innovation and best practices.

What is electronic document management (EDM)?

Don’t let the long name scare you. In the simplest of terms, electronic document management (EDM) is a system whereby all paper based information of an organization is converted into electronic data, filed and stored on a computer system, and made centrally available to the employees working there.

Why should I switch to an electronic document management system?

There is more than one reason to consider EDM. To begin with:

  • It makes information manageable: EDM does away with the hassle of physically processing, storing, and retrieving paper-based documents by organizing information in one central database. This way you can search for information at lightning fast speed and stop dealing with duplicate files and disorganized papers.
  • It makes data more accessible: Documents can be accessed from any computer, or even multiple computers simultaneously, within the organization. Unlike a traditional file, you don’t have to worry about requesting, delivering, or retrieving electronic data or waiting for your turn to get your hands on it.
  • Sharing becomes easier: What happens when you have to share a file for review in a group? You make copies of the document, send them to individual members and wait for them to review it and send in feedback, which is then compiled into yet another file. Electronic document management solutions streamline the whole process and makes review of a particular document quicker without harming the integrity of the original version in any way. This also helps eliminate duplicate documents.
  • Filing becomes less expensive: EDM helps a company cut down on costs related to paper, toner, ink, and maintenance of printing and photocopying machines. In addition, organizations can also save money that would otherwise be spent on filing cabinets, storage supplies and the real estate required – both onsite and offsite – to manage documents.
  • Information becomes more secure: With an electronic document management system in place, you don’t have to worry about security being compromised or important data getting lost. Also, taking backups of electronic data is simpler than making photocopies of physical files.

In the end, electronic document management solutions isn’t just a more efficient and cost-effective way of managing your business information, it’s also an environmental-friendly solution that reduces dependence on paper and chemicals. And of course, it’s a step towards a less chaotic way of filing, storing, managing, and disbursing information within an organization.

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