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What is a document management system?

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What Is a Document Management System and How It Can Revolutionise Your Business?

 

Businesses deal with a vast number of documents every day. Managing, securing, and organising them effectively can be challenging.

This is where a document management system (DMS) comes into play. DMS helps businesses centralise and organise their electronic documents.

By implementing a document management system, businesses can streamline their document-related processes, improve collaboration, enhance security, and ultimately revolutionise their operations.

 

What is a document management system?

A document management system is software that helps businesses manage electronic documents through capturing, storing, organising, retrieving, and distributing them. 

These types of electronic documents include:

  • Quotations
  • Invoices
  • Proposals
  • Estimates
  • Contracts
  • Forms
  • And many more 

 

It provides a centralised repository where authorised users can securely store, index, and access documents. 

It offers features like version control, document searching and retrieval, workflow automation, collaboration, and security controls. 

Businesses can eliminate the need for physical storage space, reduce paper usage, and enhance productivity.

 

Key features of a document management system 

A document management system offers many features that help businesses efficiently manage their documents. Some key features to look for in a DMS include:

 

1. Document capture and indexing

The ability to capture documents in various formats. Such as importing electronic files and indexing them with relevant metadata for easy searching and retrieval.

 

2. Version control

The capability to track and manage multiple versions of a document. Ensuring that users always have access to the latest version and can view the history of changes made.

 

3. Document searching and retrieval

Advanced search capabilities allow users to search for documents using keywords, metadata, or full-text search. – Making it easy to locate specific documents quickly.

 

4. Document collaboration

Tools for real-time collaboration. Allowing multiple users to simultaneously work on the same document, edit content, leave comments, and track changes.

 

5. Security and access control

They use strong security measures like encryption, user authentication, access controls, and permissions to keep your documents safe from unauthorised access, changes, or deletions.

 

6. Workflow automation

The ability to automate document-related workflows, such as approval processes, notifications, and routing, to streamline business processes and improve efficiency.

 

7. Integration

The capability to integrate with other business systems.  E.g. customer relationship management (CRM) or enterprise resource planning (ERP). Ensuring seamless information exchange and data synchronisation.

A decent DMS allows businesses to effectively manage their documents, improve collaboration, enhance security, and optimise their operations.

Check out DocFlite, for a top-performing DMS, where you can access all these DMS features and many more. 

Implementing a document management system in your organisation

Implementing a document management system requires careful planning and consideration. Here are some steps to follow when implementing a DMS in your organisation:

 

1. Assess your document management needs

Evaluate your current document management processes, identify pain points, and determine your requirements. Consider factors such as the volume of documents, types of documents, collaboration needs, security requirements, and compliance obligations.

 

2. Research available document management systems

Conduct thorough research and evaluate different document management systems available in the market. Consider features, scalability, ease of use, vendor reputation, customer reviews, and integration capabilities. Shortlist a few systems that align with your requirements.

 

3. Define your implementation strategy

Create a detailed implementation plan outlining the required steps, timeline, and resources. Identify key stakeholders, assign roles and responsibilities, and establish a communication plan to ensure a smooth transition.

 

4. Configure and customise the DMS

Work closely with the implementation team of your DMS software to configure and customise the system to your needs. This may include setting up document libraries, defining metadata fields, configuring security settings, and integrating with other business systems. 

 

5. Migration and data cleanup

Plan and execute a data migration strategy if existing documents are stored in physical or digital formats. 

Transferring documents from their current location to the DMS while ensuring data integrity and preserving metadata.

 

6. Training and user adoption

Provide training to all users using the DMS. This includes training on uploading, searching, retrieving, collaborating, and securing documents. 

Encourage user adoption by highlighting the system’s benefits and addressing any concerns or resistance.

 

7. Monitor and optimise

Regularly monitor the usage and performance of the document management system. Gather user feedback and make necessary adjustments or optimisations to improve user experience and address issues.

Following these steps, you can successfully implement a document management system and reap its benefits.

 

To ensure that documents are protected from unauthorised access, modifications, or deletions, robust security features such as encryption, user authentication, access controls, and permissions are provided. 

This is where Docflite comes in.

DocFlite is a top-performing document management system that will boost your performance. 

 

How does DocFlite revolutionise the DMS process?

DocFlite is a DMS committed to providing one platform for all your document needs. 

 

Key features of DocFlite:

 

Fast Response to Enquiries

Respond to enquiries with speed. As discussed in another post, response time is crucial for a positive customer experience. 

Studies show that one hour is the ideal response time. DocFlite allows you to do this effectively with its ability to manage multiple document processes.

 

Traditionally, businesses store different document types, such as Word or Excel files, in separate locations

With this method of storing documentation, M-Files found that 25% of documents are lost

An average of 50% of workers’ time is spent creating and preparing documents; this is a significant risk for an organisation. 

 

DocFlite eliminates this fragmentation by allowing users to manage multiple document types in a single centralised platform. 

 

This feature significantly improves organisation and accessibility. Saving time and effort in searching for and retrieving specific documents.

 

Personalised Workflows and Tasks

With DocFlite, users can design customised workflows that cater to their needs and the software’s pre-existing workflows for standard processes. 

 

This feature ensures smooth team collaboration, automating document creation, approval, and sharing.

 

Data Capture Forms

 

DocFlite makes it easy to collect important data with its user-friendly data capture forms. Their forms feature a range of field types, including tick boxes, text boxes, dates, yes/no options, dropdown menus, and file uploads.

 

They prove particularly valuable for surveys or questionnaires, enabling efficient data collection and subsequent analysis. 

 

E-Signature

 

DocFlite’s e-signature feature makes capturing signatures a breeze, allowing users to obtain signatures without third-party applications. This highly versatile integrated functionality supports multiple signatures, making it ideal for internal and external use cases. With this feature, all parties involved can easily endorse and finalise documents.

 

Enabling e-signatures can be highly beneficial for any industry that must exchange contracts, invoices, or quotes with customers or employees.

Integrations

DocFlite works with many integrations for seamless data management. These include: 

 

DocFlite’s functionality and reach can be expanded by integrating with other business applications without any disruptions.

 

  • The integration of HubSpot allows users to track quotes, proposals, contracts, onboarding forms, and more by linking them to multiple pipelines. By searching HubSpot contact data for creating documents quickly, the integration eliminates data duplication and promotes efficiency.

 

Based on document acceptance or completion, deals are created and updated automatically. Additionally, document statuses can be synchronised with deal stages for better management and tracking.

 

  • With QuickBooks or Xero integration, DocFlite can generate an invoice automatically in the connected accounting system once a quote is accepted. Users can conveniently retrieve contact information from these accounting systems while creating a document, minimising data entry errors and saving time. The integration also enables the search of products from accounting systems when adding costs to quotes, ensuring consistency and accuracy.

Quickbooks Integration

At DocFlite, we handle all the heavy lifting so you can sit back and relax. Contact us if you’d like to get started with our system, and we’ll handle the setup. 

 

We promise a headache-free experience – all you must do is provide us with your document templates!

 

What is an example of a document management system?

Several document management systems are available in the market, each offering unique features and functionalities.

Check out our post here to review the various DMS examples. 

 

People also ask

This section answers the most popular search queries around Document Management Systems. 

What is meant by a document management system?

Document management is collecting, organising, and storing electronic documents such as PDFs, word processing files, and digital images of paper-based content using specific tools and methods.

 

Why do we need a document management system?

Using a document management system, employees can easily keep track of changes made to a document. – Ensuring that they always have access to the latest version. Additionally, these systems help protect sensitive information by enabling administrators to grant or deny access to documents as needed.

 

What are the three benefits of document management systems?

A document management system provides numerous benefits, including:

 

Cost savings

As paper expenses continue to rise, switching to a digital solution reduces the associated operational costs.

 

Improved workflow

Document management systems streamline workflows by automating processes and reducing manual tasks.

 

Increased collaboration

Real-time access to the same documents allows teams to collaborate and work together more effectively.

 

Advanced search capabilities

Digital solutions make searching for and locating specific documents easy, saving time and improving productivity.

 

Reduced storage space

Storing documents digitally eliminates the need for physical storage, freeing up valuable office space.

 

Easy retrieval

With documents stored electronically, retrieval is quick and simple, eliminating the need for manual filing and searching.

 

Enhanced security

Document management systems provide secure access and permissions, protecting sensitive information from unauthorised access.

 

Disaster recovery

Digital solutions ensure that documents are safe and can be quickly recovered during a disaster.

 

 

Who needs a document management system?

Organisations handling numerous documents, like invoices, contracts, and legal papers, can benefit from a document management system.

This includes businesses, non-profit organisations, educational institutions, and government agencies. 

By implementing a document management system, these organisations can improve their document organisation, increase document retrieval and sharing efficiency, ensure regulatory compliance, and enhance overall productivity.

We hope you found this post on ‘What is a document management system?’ helpful. Our team is ready and waiting to help you organise and manage your documents today! Get in touch, and we’ll start streamlining your business.

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