How Do Document Management Systems (DMS) Reduce Costs?

2022-10-21 16:04:03

Due to inflation, the costs of managing paper documents for your business have never been higher. It takes time and labour to manage physical files, it costs money to find low-cost printing solutions, and it costs more to store physical files in secure locations. Plus, employees require access to the files.

Eliminate spending on paper files and reduce the risk of losing paper-based documents by implementing document management systems solutions for your business.

Read on for everything you need to know.

What Is a Document Management System?

A document management system (DMS) is a tool that manages documents. These tools can handle paper and electronic records in a single location or multiple sites.

Document management solutions enable the digitisation of your business and help you manage your organisation's documents when transitioning to a paperless environment. You can also use DMSs to generate invoices and assist with your company's regulatory compliance.

A DMS eliminates the need for printing and scanning by storing your files electronically. You can also use it to send secure emails that contain scanned copies of forms and other confidential documents, which reduces wasted paper, ink and toner cartridges. In addition, you won't have to worry about lost physical documents because they're all stored safely in the cloud!

 

Do You Need a Document Management System?

In short, every business needs a document management system as they help you:

  • Reduce employee time spent on data entry and retrieval
  • Eliminate paper copies of documents in your office or facility and
  • Record the history of all changes made to each file.

In the age of working from home, where physical documents are transported home and back to offices worldwide by your employees, a DMS has never been more vital. While there's no law about needing one, your business will suffer without one.

Several document management systems are on the market today, each with unique specifications and benefits. Daisy Solutions has an industry-standard document management system you can purchase today.

 

How Does Daisy's Business Software Management System Work?

Daisy Daisy Business Solutions' software saves you money by helping to operate your business more efficiently and effectively.

Our systems will enable you to create an online store, manage inventory, keep track of sales data and much more, freeing up your valuable time to focus on growing the business instead of spending it ensuring it runs smoothly.

Our DMSs also save money by eliminating the need for expensive consultants or outside IT support staff who would otherwise be necessary to help manage the business. Daisy's document management packages include all you need to migrate to a digitised environment:

  • Electronic document management
  • Process automation and workflows
  • AI and RPA and
  • Print management software.

Our packages are all-inclusive; thus, there are no hidden costs involved and when it comes time for upgrades on equipment that need replacing or updates to maintenance contracts after a certain amount of time has passed.

 

Dealing With Regulatory Process

Suppose your company deals with anything linked to the public sector; in that case, you are required by law to archive documents correctly and remain in line with regulations for compliance.

A good DMS will also allow employees access to all the necessary information without navigating several layers of bureaucracy first, thus making it easier for them to get their jobs done faster. This more streamlined process, in turn, also saves time on unnecessary paperwork tasks like printing forms for manual completion or making copies of everything just in case someone needs a copy later (or in case it gets lost).

 

How Do You Choose the Right Document Management System to Reduce Costs?

To determine which document management system is right for your business, consider the following factors.

Firstly, the size of your business—is it small or large? A DMS designed for a small business will not have the same features as one designed for a large corporation. Regardless, however, it is software that is well worth the investment.

Secondly, consider the volume of documents your business produces. Are you generating only a few dozen files per year, or more like thousands?

Next, you'll also need to consider the type of documents your business manages. For example, do you need to archive invoices and retain them until payment? That could require two different types of storage in some systems, while others allow you to save both sets within a single location.

Also, consider the structure of your organisation and how many departments are regularly involved in creating and using documents (e.g., marketing vs IT).

Lastly, look at how many sites you have, their location and how people must work together across borders and independently on their projects (e.g., offices in South Africa and the UK).

Consider whether those teams need access to each other's data and what technical requirements might exist based on geography or time zones where there is less connectivity than others (e.g., remote parts of Africa).

 

Document Management Systems Are Great for All Businesses

Designed to make your business more efficient and lower costs, DMSs reduce resource waste by eliminating the need to print documents unnecessarily, thereby using less paper.

If you need a document management solution to help your business cut costs, contact us today to explore solutions that will work for you.