What is a Document Management System (DMS)?

Document Management System (DMS)?

A document management system is essentially a specialized software platform that is used to store and manage digital documents.

Typical features of a DMS are as follows:

Save digital documents

PDF, images, MS Office, videos, sounds and other media.

Version control

An important function is to keep the version history of documents. Each time a document is edited, a new version is saved. The older versions are available for viewing. It is possible to use an older version.

Metadata

Metadata is typically saved for each document, e.g. Date when a document was saved, author and employee ID for an employee document. The DMS may automatically extract metadata from the document or prompt the user to enter metadata when the document is saved.

Integration

DMSs often integrate into multiple business applications.

Workflows

Customer-specific processes can be defined for certain documents, e.g. Authorization workflows, destruction workflows, customer service workflows.

Indexing and Search

Indexes are created with information from metadata and document content. This helps to quickly retrieve documents during searches. The search can be based on metadata or full text of documents.

Synchronization

Documents can be edited by multiple users. It is also possible for users to check out documents (i.e. lock them out for exclusive use). When you check in again, the version number increases and the document is available again to several authorized users.

Publication and distribution

Many DMS have integrated web content management systems with which HTML versions of documents can be created and made publicly available on websites.

Social

Modern DMS have social media functions such as activity feeds from teammates, likes, bookmarks and social comments on the documents

Industry-leading strain gauge systems

The following systems are based on the Gartner ECM Magic Quadrant for 2013 (in alphabetical order):

  1. Alfresco
  2. EMC Documentum
  3. Hyland Software OnBase
  4. IBM FileNet
  5. Microsoft Sharepoint
  6. OpenText (formerly vignette)
  7. Oracle WebCenter
  8. Xerox DocuShare

EisenVault Records Management specializes in the implementation of document management systems for small and medium-sized companies. We have specialized know-how in Alfresco, EMC Documentum and IBM FileNet. We will give you the best advice to understand your requirements and your budget, and to implement the right DMS for your company.

Why do enterprises need a document management system?

A document management system explains how documents are managed and stored in an organization. Documents, being the most prized possession” of an entity, need to be stored in a smart way. Given below are some of the top benefits of Document Management System, which make it an indispensable part of every entity in this white-collar world:

Cost-Saving

The often-quoted benefit of a document management system is huge savings in cost, which is otherwise spent on papers and stationary. Organizations, which depend mainly on paper records, spend a fortune on paper, printing and scanning ink, and other stationery items. With a document management system, these expenses could be lowered by making everything available to everyone simultaneously on your computer system.

Reduced storage requirement

The more papers you print, the more storage you require to store the same. Why waste so much of your office storage on storing these files and documents when you can keep them safe on your computer systems? Further, it is not easy maintaining bulk loads of paper documents. They are prone to easy damages due to man-made or natural disasters. Go paperless and use that extra storage for something beneficial and productive.

Scalable

It is an obvious fact that when your business keeps growing bigger, your documents need to keep increasing. One important benefit of a document management system is its easy scalability. By just paying a few extra bucks, you can increase your storage needs.

Enhanced security

Another important advantage of a document management system is its advanced security feature. Your files remain safe from unauthorized third-party infiltration or malware attacks from cyber criminals. The easy tracking of the persons accessing the file and making modifications in it ensures better accountability.

Disaster recovery

With data backup and disaster recovery facilities, your data remain safe even after an unforeseen catastrophe. You get your data back within a few hours without losing any valued business information.

Increased productivity, better collaboration

With a good document management system in place, sharing of information within an organization becomes smoother. Everyone having access to important information at the same time ensures better collaboration. The workflow gets systematized thus increasing the overall productivity of the staff.

Regulatory compliance

With strict regulations in place towards certain business documents, ensuring compliance has become the utmost importance by enterprises. Non-compliance can lead to penalties, fine, penal prosecution, litigation, and loss of reputation of the company. A document management system reduces the risk of non-compliance.

Easier retrieval

Searching for a necessary document for performing a particular job can be very time-consuming if the storage system is not efficient. A document management system ensures the systematic storage of data based on various factors. This makes data retrieval a lot easier.

With a good document management system, you can save your valuable time and concentrate on important aspects of your business. A fast and efficient document management system boosts employee morale thus keeping them motivated to work harder for the business goals. A good document management system will also keep your clients satisfied with the fact that their documents are being handled wisely by the enterprise.