Document management refers to the software, hardware and processes that organize and manage documents within an organization. This includes workflows for digital documents Document repositories, document repository systems and COLD/ERM systems. It also involves document security which includes tagging and metadata creation. Some document management systems are all-inclusive, but it’s important to concentrate on the capabilities that will assist team members perform their roles.
A system that lets teams work and access documents even when they are not in the office could be a good choice for those who have to work on documents away from their workplace. Other features such as the check in and check out system that only allows one person to work on the document at a given time or a system for tracking for changes can reduce the chance of data loss and mishaps with versions.
Many businesses produce a large amount of content. A lot of it ends up in the form of a document. Documents are lost, neglected, or even, compromised by an unauthorized third party who does not have a well-documented and well-defined document management procedure. This can lead to serious compliance and financial risks for industries that are heavily regulated.
It’s vital to have a strong document management process in place that gives the ability to track and monitor all your digital documents, from the moment of capture to use points to eventual disposal. This will eliminate the possibility of losing or stolen data, besides improving productivity and ensuring compliance adherence.