5 Reasons to Use an Electronic Document Management System

We want to discuss the key benefits that companies gain by digitalising their documents. Transitioning to an electronic document management system is the first step in initiating the process of digital transformation. If you’re a business owner pursuing innovation, this article will outline why this is the best starting point. 

Do you still manage most of your business administration tasks in a traditional manner? Physical contracts, multiple versions of proposals, and copies of employee documentation - the whole nine yards. If you primarily rely on a paper-based system, here’s your sign to abandon it today. Upgrading to an electronic, paperless setup can bring countless benefits to your company.

Going digital is proven to boost business efficiency. In a highly competitive environment, it ensures you don’t get left behind while your competition marches forward. Trust us: you’ll wonder why you didn’t upgrade sooner. Let’s explore just some of the many advantages of moving document management online.

Why Do We Need EDMS?

Often referred to as EDMS, an electronic document management system is software designed for storing and organising digital versions of documents. Here's what makes it useful for businesses:

1. Minimisation of physical clutter;

2. Better accessibility;

3. Amplified security;

4. Easier navigation;

5. Team management. 

Below, let’s look into each of these benefits in greater detail.

1. Cleaner Workspace

On a practical level, removing paperwork from the office can save tonnes of space- space that’s costing you in rent. Freeing it up will allow you to utilise it in ways that drive productivity and enhance performance. For instance, you could add desks to accommodate more employees or create breakout spaces that support your staff's well-being while at work.

And speaking of your people, no one wants to work in an office that looks like it’s stuck in the early 2000s. Get rid of those bulky cabinets, and your workspace will become a more spacious and inviting place to work and visit. It has also been proven that decluttering the workspace can improve overall performance and boost productivity. In other words, something as simple as a clean-up can give your business a massive boost. 

2. Easy Access to Documents

The rise of flexible and remote working means that many businesses rarely find themselves with a fully staffed office. Although flexible working is closely linked to increased productivity, it can cause complications. For instance, a remote worker may possess documents that are urgently needed in the office. With an electronic document management system, there is no risk of this occurring. 

Authorised personnel can easily log in to access the necessary documents anytime, anywhere, as long as they have internet access. This also facilitates greater collaboration and flexibility. With the appropriate permissions, employees can upload their own documents into the electronic system, eliminating the middleman and creating a more efficient system.

3. Improved Security and Disaster Recovery

Documents often contain sensitive information about policies, processes, and people. By storing them on a secure online platform, you can better control and restrict who has access to them. A note on this, though: it’s vital that you choose a respected and recognised platform that takes security seriously.

In addition to enhancing security, storing documents online ensures they are safeguarded in the event of a fire, flood, or other disasters. While these circumstances are indeed rare, knowing that all your essential documents are secure should provide you with extra peace of mind. Depending on the software used, you might have the ability to recover certain versions of a document. This feature could prove beneficial if unauthorised changes were made to a document.

4. Quicker Search

The biggest shortcoming of physical documentation is that it can be time-consuming to find the specific file you need. Depending on the volume of files it’s buried within, it may be as effective as trying to retrieve a needle from a haystack. Given that there are situations when a specific document needs to be found instantly, this can not only be inconvenient but also endanger your business.

Centralised digital file storage enables you to locate the document you need in seconds. All you need to do is type its name or a unique piece of its content. Faster access to documentation and knowledge will make you quicker in decision-making, as you won’t waste time searching for relevant files.

5. Onboarding and Employee Management

Having an electronic document system in place makes it easier to onboard new staff, whether they are full-time workers or contractors. Instead of dealing with bureaucracy and administrative work, they are required to upload their documentation straight into the server, with no additional steps in between. When combined with an onboarding system, it can also be set to automatically identify which documents have been uploaded and which are still missing.

In the future, an electronic document management system will also help you ensure that the documentation is up to date and compliant with regulations. This feature is particularly useful if your employees are required to have certificates to work. Adopting this approach to document storage will keep you informed about when those certificates are expiring, allowing employees ample time to renew them.

Summary

There are many reasons to store your documents in a cloud-based EDMS, ranging from accessibility to security. Although we have listed only the top five reasons to convey the benefits of digitising document storage, many more exist. In fact, there is no reason why this approach should not be used.

Centralised digital storage can also be easily integrated with other solutions, further streamlining your processes. For example, in recruitment, this is a handy tool to integrate with a candidate tracking app. At Timesheet Portal, we integrate ours with an e-signing platform, allowing you to sign the documents right inside the platform.

The sky is the limit. Curious about what else you can do for the remaining list of benefits? Give us a call.