Do i need a Document Management System (DMS)?

In today's digitalized world, there is a multitude of new technologies and digital systems. The use of artificial intelligence and machine learning is automating many processes in companies. One way to make your work processes faster and more efficient is by utilizing a Document Management System (DMS). With the overwhelming array of new technologies, it can be challenging to determine which innovations are beneficial for your business. If you're wondering whether your company needs a DMS, you should definitely keep reading.

What exactly is a DMS?

DMS stands for "Document Management System" and is nothing more than the management of important documents using software. A DMS captures, processes, manages and archives documents such as emails, invoices or contracts. This is made possible through AI and OCR (Optical Character Recognition): AI algorithms can intelligently categorize and search documents, while OCR enables the extraction of texts from images and scanned documents. These technologies make a DMS extremely efficient. Find out more about OCR here.

Do i need a DMS?

A DMS offers numerous benefits and supports your business in various ways. But when does it make sense to implement a DMS? Here are some important factors that speak in favor of using a DMS:

1. Saving on postage and printing costs

Businesses generate a large volume of documents, this quickly leads to a huge amount of paper. If you're looking to reduce paper consumption in your company and save on cartridge and ink expenses, a DMS is definitely a wise choice. By capturing documents electronically, you not only save costs, but also protect the environment.

2. Time savings in processing

Would you like to reduce the processing time of documents in your company? With a DMS, a document is captured digitally right from the start and filed in central folders. Unlike manual scanning and filing, this avoids lengthy searches and reduces processing time. This not only leaves more time for other activities, but also increases the motivation of your employees when the frustration of endlessly searching through file folders is eliminated. By reducing processing time, you also improve customer satisfaction, as your customers' concerns are responded to more quickly and errors are reduced.

3. Access to documents

A DMS is also a sensible measure if your company has several locations or employees are often on the road or working from home. The ability to edit documents simultaneously means that every employee can access documents regardless of their location and at any time. This allows for cross-departmental work on the same document, regardless of where your employees are located.

4. Avoiding duplicate entries

A recurring problem in the context of document management is duplicate entries. Without a central filing system, it is easy for documents to be saved twice and with different file names. This quickly becomes confusing and leads to misunderstandings. A suitable DMS, such as REEDR, provides a solution: All documents are centrally stored in one location, and duplicate entries are immediately identified. This allows you to easily create transparency and clarity.

5. compliance with legal regulations

A DMS enables companies to archive documents according to legal retention periods. It automatically controls the deletion of documents whose retention period has expired, while ensuring that all necessary documents are retained for the prescribed period. For companies in the EU or those that process data from EU citizens, compliance with the General Data Protection Regulation (GDPR) is essential. A DMS aids in managing access rights, ensuring that only authorized individuals have access to sensitive data. It also supports the implementation of requirements such as the right to be forgotten by simplifying the deletion of personal data.

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Who benefits from a document management system?

Essentially, a DMS automates processes in all areas of a company, thus simplifying work steps and making them more efficient. Especially the departments of Marketing/Sales, Human Resources, Accounting, and Support benefit greatly from a DMS. Click here to find out more about the industries that benefit from OCR technology and a DMS.

Salespeople can store important marketing or sales materials digitally at any time and retrieve them later. In Human Resources, application documents can be centrally stored and accessed by all team members. This simplifies the creation of job advertisements and the search for new employees. Accounting benefits from a DMS through the quick capture of invoices and an automatic reconciliation of invoices or orders.

Conclusion

As you can see, there are many possible applications for a DMS. If one or more of the factors mentioned above apply to your company, it might be sensible to use a Document Management System, like REEDR.

Are you interested in learning more about our AI-based OCR solution REEDR for your Salesforce CRM? Or are you still unsure and have questions? Then contact us directly here.