Inefficient document management can cost small businesses time, money, and peace of mind. Instead of focusing on your core business operations and growing your company, you and your staff waste time searching for documents, performing repetitive administrative tasks, and trying to comply with data privacy regulations.
A comprehensive document management system can help you streamline your operations, free up your employees to focus on high-value tasks, and keep your customers’ data and your intellectual property secure. If you’re getting frustrated with the challenges of efficiently managing all of your documentation, you might be ready for an upgrade. Here are five signs it’s time for a better document management system.
When you don’t have a centralized storage solution, your documents are scattered across different platforms and devices — often buried in some long-forgotten email thread. When you need to access a document, you have to go hunting for it, which slows down business operations and productivity.
Modern document management systems let you quickly access any document by providing a centralized storage location and advanced search features. You can pull up documents by date, keyword, category, or any other relevant category. Upgrading your system will save time, reduce frustration, and boost productivity.
Having multiple versions of the same document floating around can lead to expensive and time-consuming mistakes, miscommunication, and inefficiencies. It also makes collaboration more difficult because people may be working on different versions and emailing back and forth. In contrast, new systems include automatic version tracking so everyone is on the same page about the most recent and accurate document version. They also offer real-time collaboration so everyone works from a single source of truth on the same platform. Proper version control eliminates redundant work, reduces mistakes, and helps build a more cohesive team.
Cybersecurity threats are multiplying with the advent of advanced technology such as artificial intelligence. It’s easier than ever for malicious actors to attack your confidential business information. A data breach can negatively impact your bottom line through lost business, fines and legal penalties, and damage to your reputation.
Outdated digital systems don’t provide the type of high-level security protections modern businesses need, and physical storage is vulnerable to in-person theft as well as damage and loss.
With upgraded, cloud-based systems, you can protect your data with strict security measures such as end-to-end encryption, role-based access control, and built-in audit trails to monitor document activity. Securing your data protects your business and builds trust with your clients.
Physical filing systems are expensive and inefficient. You have to pay for filing cabinets and the office space to store them. Although digital systems are more affordable than physical filing systems, their costs can add up quickly — particularly if you’re storing duplicate and outdated documents.
Switching to a dedicated document management system practically eliminates the need for physical storage components as well as the additional office space expenses associated with them. Cloud-based storage is scalable and grows with your business, so you only pay for what you need. This can significantly cut your costs over time.
Protecting your data isn’t just a smart business move — it’s a legal requirement. The data protection regulatory landscape is changing rapidly and becoming more complex as cyber threats increase. Staying on top of your legal obligations can be overwhelming, but the cost of non-compliance in terms of penalties is steep.
Using a document management solution simplifies compliance by automatically tracking document lifecycles, generating audit-ready reports, and keeping your software updated and aligned with new regulations as they roll out.
Managing your documents takes time away from serving your customers and growing your business. Working with a document management provider who has the expertise to design a system that meets your needs eliminates this burden.
An expert provider can offer tailored recommendations and precise system configurations based on the amount and types of data you store. They can also provide ongoing support by training your employees and updating and troubleshooting your system. Because they have extensive experience in navigating industry-specific challenges, you can rest assured your data is protected and you’re meeting your legal compliance obligations.
Outsourcing your document management is often more cost-effective than trying to handle it in-house — both in terms of direct expenses and labor resources. Working with an experienced professional will give you the most value when you upgrade your system.
If you’ve noticed any of the following signs, it’s time to consider upgrading:
For small businesses struggling with document overwhelm, modern document management systems can help them save time, lower costs, and gain an advantage in a competitive market.
Standley Systems is a team of data professionals with decades of experience helping small businesses set up and manage digital record storage solutions. Reach out today to learn more about how we can help you scale your document management securely and efficiently.