As a business, you probably rely too heavily on local drives and filing cabinets to manage documents. But is this method really working for you?

If you’re looking for a hassle-free, efficient, secure way to handle your company’s document workflows, you might want to consider a document management system to help with record management.

A document management system (DMS) is a cloud-based software programme designed to manage, maintain, and automate all tasks involving essential business documents. 

It allows users to capture, digitise, store, and share store documents in a central location. Documents can be captured from a variety of sources including email, scanners, and business software. 

But how do you know if a document management system really is a worthwhile investment for your business specifically? If you’re reading this, chances are you’re already pondering this question. And if you aren’t, here are six instances that indicate you a Managed Document Service will benefit your office. 

At a glance:

1. Your business is growing
2. You’re concerned about the safety of your documents
3. You have a hybrid work model
4. Invoice processing is inefficient
5. Document retrieval is difficult
6. Your document management processes aren’t legally compliant

Your business is growing

Onboarding a large number of new employees and expanding departments mean that traditional document control processes won’t cut it anymore. As your company undergoes a period of rapid growth, you might find that your existing DMS lacks the capacity and important features necessary to streamline operations. A more advanced system can support the growth of your business by offering the following functionalities:  

• Multi-device access
• Automated workflows
• Support for Multiple Document Types
• Easy access at the office or on the go
• Analytics, Dashboards, and Reports

You’re concerned about the safety of your documents

Storing documents in a filing cabinet or hard drive is not only a pain to maintain and organise but also a security disaster waiting to happen. This method of storage exposes your documents to the risk of getting lost, stolen, or damaged. A DMS comes with robust security features such as user permissions, multifactor authentication, and electronic storage and backup that sort these problems for good.

You have a hybrid work model

Moving toward a hybrid workplace requires your business to adopt a tech stack that promotes productivity and employee engagement. A document management system is perfect for this because it is inherently equipped with collaboration capabilities. You can provide teams access to tools for real-time document sharing, tracking, and feedback.

Invoice processing is inefficient

If you or your bookkeeper are spending lots of time each day collecting, authorising, and archiving invoices, a DMS can simplify the process. Through automation, the system digitises documents by default, reads invoices, and extracts information to populate predetermined fields. This method eliminates the manual aspects of accounts payable, helping your team to move faster and reduce errors. 

Document retrieval is difficult

Your team should be able to access documents immediately without delays, and without having to search for them through filing cabinets or various online storage solutions. With a document management solution, they can quickly find files using full-text searches on content and metadata tags for one-click access. 

Your document management processes aren’t legally compliant

Your business deals with sensitive information and documents on a daily basis – from personal data relating to employees to confidential client billing details. Is the way you store data fully compliant with government and industry regulations which have strict requirements on how data is collected, stored, and accessed? Having a legally compliant document management solution help you avoid legal issues, making it easier to obtain, document, and store information in a lawful way.

• READ NEXT: Modernise invoicing with a document management system

A final word on Nashua’s Managed Document Services

Nashua’s Managed Document Services are powerful tools for every business. Not only can it help reduce paper waste in your office, but a DMS can also increase your team’s productivity and ensure regulatory compliance. If any of these scenarios sound familiar, then it’s time to get serious about making the switch to a DMS and improve your team’s performance.