5 Practices For Effective Document Management
Documents are a core part of a business’s support system. They tell of the past, show the progress, and can help you determine the future of your business, particularly documents such as financial and marketing records. You can also use them to influence business decisions that define the direction you want to take.
And while the past has seen more physical documents and records, technological advancements have created other options for paperless documentation. Now, businesses have made a switch from cabinets and record rooms to software documentation management of electronic files. The document management systems market value worldwide is projected to increase to 6.78 billion U.S. dollars by 2023.
This is because digital records are easier to file, retrieve, maintain, search, track, access, are environmentally friendly, and are safer. This article looks at the practices that make document management effective in the current business landscape.
What is Document Management?
This is the process your business takes to control and coordinate the flow of records, both paper and electronic, to ensure their streamlined and secure document flow. These processes involve the collection, creation, indexing, storage, dissemination, access, and retrieval.
In simple terms, it is how your business gathers, organizes, stores, and manages its documents, regardless of the format. There are many ways to manage documents, especially electronic records, through tools and software. Therefore, finding an effective way to manage documents can be a huge business challenge. But whichever system you choose, remember to keep the following best practices.
Establish document management structure
Setting standards and establishing policies and guidelines for document management is the first and critical practice you need for effective document management. You need to have a document management structure. This is especially critical since the emergence of electronic documents.
You should ensure that your business knows and keeps the privacy laws and guidelines required to help your business handle all customer and business information with confidentiality. In addition, you also need your in-house policies that everyone must follow to ensure proper and effective management of documents.
These are the laid-down rules on where to store documents, access levels, and encryptions. Your business can benefit significantly from following an established guideline on document management by improving structure consistency and security.
Train your staff
Another excellent document management practice is offering staff training on effectively controlling document flow. You should ensure that all personnel are tasked with keeping business records. When you have a well-trained team, they’ll understand your established structures and how to handle information in various stages and access levels. It also gives them confidence in their ability to manage documents correctly.
Use a good document management system (DMS)
Let’s answer the question – what is a DMS system? This is the tool, software, or system you use to organize and manage your records. However, you must be selective when choosing a system to ensure it adequately serves your business needs. Conduct market research and compare the popular brands to see which one suits your business best.
Look through the features against your business needs. Read reviews and compare pricing and subscription options before settling on a system. You can also use a trial version to test the waters. Alternatively, you can get a developer to build custom software for your business. This will be the best option if your business has unique requirements you can’t get from market-ready tools and software.
Use a single location to manage your documents
Documents are a byword for efficiency in any business. For that reason, you must ensure that your business stays up to date with all its documentation. This means having them in a central place where you can easily access and control them. Storing business documents in different locations can lead to duplication, confusion, and loss.
The best and most suitable practice in this digitization age would be storing them on the cloud. When you have proper cloud storage, you won’t have to worry about storage space, access, or security.
Embrace Automation
Automation is an excellent way to improve productivity by reducing the time, resources, and efforts your teams use in document management. It’s therefore good practice to automate all document management processes to eliminate human errors. Automated DMS can also improve the speed of storing, sharing, or retrieving documents.
The best areas to apply automation are the repetitive processes that slow down workflows but are necessary steps. Automating helps you gather and organize information faster, improving document management efficiency. Covid-19 was among the reasons that triggered growth of the industry, but the habit of using electronic records will stay.
However, it’s crucial to consider your business applications when applying automation. For example, the automation for an enterprise records management system may differ quite significantly from that of a manufacturer.
Final word
Managing your documents effectively can save your business from errors and delays and improve productivity and customer satisfaction. By following the best document management practices, you can achieve this level of efficiency and benefit from a more streamlined workplace. Having an established document management structure, DMS, well-trained staff, and automating where possible are some of the best practices to begin today.
