When it comes to business, documentation is everything.
In other words, the system of documentation a business adopts can make it or mar it.
Because its document is the only item that differentiates it from other businesses. Therefore, it calls for efficient management.
Since the turn of the 21st century, more businesses have embraced document management automation.
While the modernization of the document storage system is wise, the wisest option for a forward-thinking business is to use the best electronic management system.
There are hundreds of electronic management systems today, but a few are truly efficient.
Since a faster, safer, and efficient document processing is an essential ingredient for business organization, it is equally important to know the best electronic management system to achieve such aim.
In this piece, we listed the top 4 electronic management systems that all businesses must use.
But before we jump in, we must understand what an EDMS is, its benefits, and its types. Pay attention, a good understanding of these factors will help you chose a suitable one.
Simply put, it is an electronic system for digitally storing information. It is the exact opposite of the traditional filing system. In other words, it is a modernized system that allows companies and enterprises to record and store digital versions of their information.
EDMS helps companies to reduce their usage of, and reliance on paper works. In detail, it is a computer-based program that handles multiple operations on a wide range of enterprise data. These operations include receiving, track, manage, retrieve, distribute, and secure important company information.
Not only that, but the electronic system can also process handwritten or printed documents. To do this, it uses special features to scan a large volume of records. After that, it reproduces these records in different formats.
A record is the collection of all information processed during operation, either they are created, duplicated, sent, or received.
Records are important. They serve as a timeline of all activities in an organization. To secure it, companies must utilize a digital storage system.
Now, one important question often asked is why EDMS is a big deal.
Is the traditional filling system more efficient when compared to electronic management?. People ask, and arguments are suggesting that digital storage systems are overhyped.
Upon a closer look, it becomes clearer just how much of an essential business component it is. Especially when you consider that 90% of all data in the world was generated in the last two years.
As a result, employees need to deploy efficient tools to tackle this growing amount of information.
The 2019 Intelligent Information Management Benchmark Report reveals a lot about how employees responded to the introduction of EDMS into their workflow, and how its absence is a nightmare.
The report revealed that
These and many more statistical revelations show that the absence of electronic storage harms productivity and time management. Certainly, both are essential factors of an agile organization.
But what about it makes it really important to an organization?
These are some of the advantages of using the electronic management system.
The ability to store data is the key feature of an electronic document management system. In this capacity, it acts as an all-in-one hub that stores all information within an organization.
Also, EDMS can store files of various formats. Without restrictions, it can electronically process images, records, PDFs, drawings, invoices, spreadsheets, etc.
Being a cloud-based storage system, implementing EDMS saves more office space. This is because employees can simply replace excess office cabinets and storage boxes with more important components. As a result, they can use more office space efficiently.
By implication, this feature improves the retention of organizational knowledge and work efficiency. Thus, it ensures that important information is available for continuous use in the future.
Teamwork makes a successful business venture, where teammates can work together without limitations. To achieve this, a digital management system with collaboration features must be deployed.
Imagine you and your teammates cannot carry on with important business projects because the global pandemic has forced everyone to stay at home. The effects will certainly be devastating.
With a standard electronic document management system, employees, managers, and business owners can work together to reach set goals even when they are miles apart.
Such as mobile, PC, or Desktop.
With this function, the electronic management system ensures flexible business operations while helping businesses save a lot of time.
While EDMS manages varieties of file formats, it also enables the automation of documents that are only available in their original paper format.
OCR is a special tool for doing this. This Optical Character Recognition tool is an advanced system function. It is used essentially to capture and process texts on an original document. After that, it is transformed into readable a software format, editable on an all-digital platform.
Whether it is handwritten or printed, there is no limitation on how to store data on the electronic management system.
For easier access, the system can quickly format OCR files for metadata functions which makes it easy to locate.
Overall, the advanced information capturing system ensures that when storing company data no information is left behind.
Retrieving documents is an essential function of an electronic document management system. At every point in time, users can search, restore, and use all information stored on the server.
With a user-friendly interface, users can browse and find a document easily. This can be done by navigating through a web of folders using a specified naming system. Moreso, employees can perform an in-depth search with terms from file content using a keyword.
With an advanced search function in place, employees can easily identify and differentiate between closely related files and download anywhere.
What’s better than being able to retrieve documents at any time? The ability to retrieve it easily. With an automated indexing structure, EDMS can arrange or rearrange thousands of files in a simplified order and series.
Either by alphabetical order, numerical computation, or custom format, retrieving documents on EDMS is just as simple as to custom search the document. This way, employees do not have to search through cabinets and shelves to find a file from years back.
With this system in place, employees can be expected to be more productive and faster at their job.
Organizations that know their worth also know how important it is to keep their data off the public eye. Making your business data accessible to unauthorized personnel is collateral damage. Also, your business model is liable to be replicated, sold, or worse- hacked.
For these reasons, EDMS allows business owners to keep business information open only to selected individuals. And this can mean many things. For example, some members can be given “view-only” access while others are given “editor” access. Otherwise, some users can be authorized access to a document while others have no access at all.
This function helps to keep the risk of losing business data at the barest minimal. Similarly, team members are less distracted as they can only focus on information open to them.
In big establishments, documents go through a lot of changes daily. To aid better comprehension of each file, the organization’s EDMS must update the versions of each document accordingly.
You might ask, “what could go wrong”? It is simple. In a situation where you have hundreds of entries titled “file001”, and you need to locate a specific format from last year. Don't overthink it, just gear up for unpaid overtime.
That is why EDMS must be used to keep track of changes on each document. This way, employees can find a version of a document easily. Less time, more productivity.
With features like “versioning” and authorization of permission, the overall function of EDMS is to secure your data. In other words, EDMS is like an insurance institution with lots of benefits; insurance against fire damage, against (cyber) theft, against human imperfections (when you mistakenly delete your file), etc. it is life insurance.
Most importantly, it protects your organization's information against legal breaches. This is because it is mandated by law that all organizations keep an up-to-date record of its information.
While EDMS ensures that your company information cannot be permanently lost, it also guarantees that you have no reason to defend its integrity before the law. It essentially saves you a huge sum of money that would otherwise be spent on legal tradeoffs.
Before choosing an EDMS, you have to answer these questions.
As with everything in the world, the wrong choice can damage even the best of reputation. EDMS is important for all businesses and organizations, but the wrong one will leave so much to be desired.
That said, you must consider certain factors before selecting the electronic document management provider for your company.
Now, no one knows your company better than you. To aid your choice of selection, consider answering the following questions accordingly.
These questions will help you determine which EDMS vendor ticks the most box.
To help you make the best choice, We have compiled a list of 4 of the most reliable ones every organization must use.
If you are looking for a place where automation meets collaboration, you need to contact Crater365 today. All our document ecosystems are hosted on this server. And you too can enjoy lots of benefits if you join.
Your business will enjoy faster and convenient document processing on Crater365. The system makes your entire database available to you on its web, and mobile platforms. In the office or on the subway, you can do more when your files are closer to you.
Similarly, this software has specific packages for every industry.
Whether you are a digital marketing firm or a financial institution, your business needs are at the heart of Crater365. It offers you the ability to carry out operations Overall, it aims to increase productivity and efficiency in your business.
What you gain for choosing crater365
With these features, Crater 365 enables your business to function just the way you want it.
Zoho docs is an online document management system with specialized packages for teams and individuals. It provides a secure and collaborative workspace that enhances business productivity.
What you gain for choosing Zoho Docs
Are you a small business new to the digital document management system, eFilecabinet is for you. It is a simple electronic system that will help you and your team store and utilize documents as soon as it is needed.
What you gain for choosing eFilecabinet
M-file is a simple and easy to use document management software. It has a unique tracking system and electronic automation that saves you more time and offer equal efficiency.
What you gain for choosing eFilecabinet
Documents are essential to every business. They ensure the smooth running of business operations across all tiers.
For a business to protect this delicate information against all odds, it must implement an efficient electronic document management system.
More importantly, an EDMS software that incorporates all essential functions like Crater365 should be considered. It offers the best way for businesses to secure their documents and work collaboratively.