Document management systems (DMS) create a 360° content understanding across your business ecosystem. The system behaves as a bridge between all your content, document and information applications. It essentially helps you to relocate all your paperwork into a digital space, giving you more control and a sustainable, accessible approach to information access.
Top 10 Document Management System features for enhancing business profitability
1. Information retrieval
43% of workers spend 30 to 120 minutes looking for information every day. With an easy-to-use interface, your teams and departments can access all the information and documents they need in just a few clicks. It’s the faster, smarter (and greener) way to store documents.
With customised dashboards and widgets, you can design a clean, easy-to-use interface that’s tailored to your working requirements.
It prevents you from having to log in and out of different systems to find information, streamlining your daily workload.
2. AI-powered content automation
Document management systems are designed with the latest AI technology to help automate certain content production processes. This includes, but is not limited to:
- Order confirmations
- Invoice automations
- Classification & extraction
3. Workflow automation
Parts of your workflow can be automated with a DMS, particularly with the way documents are handled. For instance, invoice processing can be automated as well as order confirmations. That way, you can help to keep suppliers, clients and customers happy while also saving time on manual processes.
An example use case for workflow automation could be onboarding a new customer. The document management system can be set-up to automatically trigger workflows for document creation, approval and distribution to the relevant teams.
Workflow automation saves time, reduces errors, and enhances the efficiency of CRM processes.
4. System-wide tracking
Wouldn’t it be great to be able to track document usage? This could include knowing when documents were last accessed and updated, and who made what changes. With document management systems, you can, with system-wide auditing and tracking.
With a check-in and check-out feature, you’ll be able to see full version histories. This will help you monitor changes and make reversions if required.
5. Integrate with other applications
You’ll be able to connect information and processes across leading systems such as SAP, Salesforce, Google Workspace, Microsoft and more.
6. Allow or restrict specific access and action permissions
This ensures that you can maintain information governance. Maintaining strict access permissions is vital on any information or documents that could fall under data protection regulations, or where your business (or a client’s business) could be negatively impacted by unauthorised persons accessing certain information. It’s a vital part of business and client relationship management. It’s also crucial for protecting information that you hold on employees, such as information on absence due to sickness.
You’ll be able to assign who can access, view and edit documents, giving you full control. These authorisations can also be easily changed, with no compromise on security and confidentiality.
7. Analytics and reporting
Document management systems track and record various metrics. They can help to cover all your crucial business areas and enhance insights into your content and document usage.
8. Document usage analysis
This includes data such as the number of views, downloads, edits, and shares for each document. By analysing this information, businesses can gain insights into document popularity, user engagement and document lifecycle trends.
9. Customised reports
Businesses can create reports tailored to their specific requirements. Reports can be generated on-demand or scheduled to run automatically at predefined intervals. This enables the tracking and measuring of key performance indicators (KPIs) that align with your unique business objectives and processes.
10. Exporting data
The analytics and reporting data can be exported. Businesses can extract data in various formats (e.g., CSV, Excel) to create consolidated reports, or merge with data from other systems for comprehensive insights.
By regularly monitoring and analysing current workflow performance, businesses can identify areas of inefficiency, bottlenecks or low adoption rates. You can then take appropriate measures to optimise processes for greater efficiency.
Now you know about some of the top features that are included in the leading DMS solutions and how they could benefit your business, the next steps are to source the right system for your enterprise. By reaching out to a DMS specialist, such as the team at Ignite Technology, you can request a demonstration to see for yourself how they work and what your business can achieve.