What is a Document management system?
A Document management system is a document or file managing system that consists of procedures and processes used by a business organization for storing, capturing, securing and retrieving information on a regular basis.
Why Document management system?
Document management system makes it relatively easy for a business corporation to merge paper and digital files into a single hub. The physical files which include cheques and business cards can be scanned at ease and their corresponding digital format is imported. The file format supports word documents, excel sheet, Powerpoint presentation, PDF format, ZIP files and others.
The online banking section of the bank website uses Document management system which allows the user to manage and access their monthly transactions banking statements.
The basic components of document management software systems include
1) Document storage
2) Check in/ Check out
3) Simultaneous editing coordination
4) Security and access control
5) Search and retrieval
6) Version control
7) Indexing and Classification
8) Audit trails
Here are those 7 Advantages of Document Management System that makes it legit and more productive when compared to other file managing systems.
1) Document/file repository
2) Document/content security
3) Anytime, anywhere access
4) Integration with third-party software
5) Better organization
6) Time/cost efficiency
7) File sharing
1) Document/file repository: Document management system which is based on Cloud technology, serves as a central repository for all documents and files which can be accessed, viewed, changed and shared with your colleagues. It gives you ease of sharing by saving a lot of time while searching for a specific file in a folder.
2) Document/content security: When your documents are not managed in a proper way, they may be accessed and viewed by a third party person who is forbidden. Sensitive and vital information falling into a wrong hand can bring collateral damage to the business organization and at that time document management system ensures safeguard confidential of business information through rigorous security policies and role-based access control (RBCA).
3) Anytime, anywhere access: The web-based DMS gives the user an ability to access files and documents at anytime and anywhere regardless of what device was used. It is an important advantage as it allows team members to collaborate files while working on a project.
4) Integration with third-party software: Application integration is another feature that many software lacks but DMS has such capability. On integration with a third-party software, it eliminates all the possible reductant data and maintains data integrity, the accuracy which allows seamless information to flow between various platforms. Few of them support email integration as well allowing you to send documents and file over the internet.
5) Better organization: DMS uses tags, categories, subcategories, and metadata marking out all the files and documents making it easy to organize, locate and retrieve all the files and document for future usage.
6) Time/cost efficiency: DMS is a time-saver. when we look through the business perspective, time saved is money saved.
7) File sharing: DMS allows its users to share and collaborate files regardless of their location. The files can be shared through links, published on the web or sent as password-protected files.