Four Ways Your Business Can Benefit from
Document Management

By Marshall Stevens

Take a minute to think about how much information is created, stored, managed and disposed of on any given day at a business. Consider how difficult it can be to handle multiple file types as well. Records management is often viewed as overwhelming because information grows at such a fast rate and in several different file types. But it’s a necessary part of doing business and the way you manage your records can make or break your business. You have to keep files, not only to be able to reference them in the future, but many laws and regulations say you have to keep them. As a result, most businesses spend countless hours trying to figure out how to get a handle on their information.

The truth is, it’s really not that hard thanks to electronic document and content management software. The way document management works is that all files, regardless the original file type, are converted to an electronic format. These images get managed within a secure, web-based, content management system either on your premises or within a professional data center. Once the images are uploaded into the secure system, you can access your information with just a click of a mouse, even files that may at one point have been in a back storage room.

Here are four big benefits businesses receive by going digital:

• Reduced costs – For companies who have staff managing information, positions can be reallocated to focus on more revenue generating areas. With document management, storage space is saved and hard copies no longer take up space. For companies who are renting file storage space, this could add up to a lot of money on an annual basis. Also, by not having to print a hard copy of every file needing to be retained, you’ll save on ink, paper and equipment maintenance costs.

• Automatic protection – When files are maintained through a document management program retention periods are automatically monitored, so once a file has reached the end of its “shelf life,” the information gets deleted from the system. These features of a document management system can protect you in the event of a court case or audit and allow you to automatically comply with state and federal regulations.

• Increased Security – Business identity theft and sensitive information falling into the wrong hands are things all businesses have to work to prevent. With information being housed through a document management program, administrators control who can read, change or share documents through multiple security levels that limit users’ information access and system abilities. Data encryption can occur both during transmission and when stored. Records retention and destruction policies, evidence of security controls and extensive audit trails enable companies to comply with government and industry regulations. Not only does this option help prevent internal identity theft problems, you’ll also be protected if there’s a break-in at your business.

• Efficiencies with document automation – Imagine not looking or waiting for a file ever again. All decisions are made through your computer and documents are transferred among employees in a matter of seconds. Employees can be instantly notified when new assignments are available and they are instructed on the tasks to be completed before the process can move forward. Workers can then make decisions with all the relevant data available at their fingertips. These decisions translate into proper routing and timely assessments which drive profitability, increase customer satisfaction and enable compliance.

But what about the cost? Whether you’re a small business or a large Fortune 500 company, document management software is neither costly nor time-consuming. When you’re looking for more information about a program that will best suit your company, seek out a firm that offers a variety of options. Such options may include scanning only select information, converting all company files to electronic format or scanning only the files that are currently in use. These options can meet your goals while still being budget-friendly.

It’s also important to find a company that specializes in programs that are fully compatible with your computer software and file types, while offering secure management options. While finding a solution to best fit your needs may take some time, remember how much time, resources and money you’ll save in the end by not having to manage hard copy files.

About the Author
Marshall Stevens is Co-Owner and President of Stevens & Stevens Business Records Management, Inc.,a full-service records and information management company, providing services throughout the Southeastern United States. He has nearly 20 years experience in the records management industry and holds a master’s degree in finance and international business from the University of Florida. Stevens and his company are active members of the Association of Records Managers and Administrators (ARMA), Professional Records and Information Service Management (PRISM), Association of Contingency Planners (ACP), Association of Legal Administrators (ALA), Association of Imaging and Information Management (AIIM) and Tampa Bay Technology Forum (TBTF) and National Association for Information Destruction (NAID). Visit www.ssbrm.com and follow on Twitter (http://twitter.com/StevensBRM) or Facebook (http://facebook.com/ssbrm).