Document management is the process of storing and keeping track of electronic documents that are related to the different business processes in an organization. This process may also include different types of document formats such as media files and images of scanned original paper documents.
A Document Management System - DMS - enables organizations to manage their documents in an easier, simpler and secure manner, allowing its employees to save, track changes and share documents across the company, providing all the required security measures to prevent unauthorized access to documents.
The value that a document management system provides to an organization
There are very many benefits for an organization that has fully embraced the use of a document management system. Some of these benefits are:
- Time taken to retrieve documents is reduced.
- The volume of transaction handled by each employee is increased.
- Reduction in the amount of storage space used for documents.
- Increased external and internal accountability.
- Better adherence to retention policies.
- A reduction in the cost of copying and generating business documents.
- Reduction in the cost of generating business reports.
- Higher security and document access control.
- Reduction, if not total elimination, of the process of physical handling of documents between various locations.
- Easy evaluation of the operational usage and performance, which enables organizations to identify process improvement opportunities that involve modifications of procedures and policies.
iFactum helps organizations take full control of their document management process through the adoption of DMS solutions, approached from the business process management perspective, which allows for the clear definition of document workflows and the execution of document centric processes, with the subsequent business performance metrics.