Document Management Software: Do You Really Need It?

Business.com / Technology / Last Modified: February 22, 2017

Document management software systems minimize the amount of physical paper you handle on a day-to-day basis and help you store,...

In the digital age, many small business owners may instinctively seek out a way to minimize the amount of paperwork they handle on a day-to-day basis. If you've ever heard of the term "document management software is the kind of system you should buy to get a handle on your reliance on paper. Going paperless helps to digitize your communications, keeps you organized, saves valuable office space, and makes sharing information easier.

What is Document Management Software?

Document management software systems are exactly what they sound like -- software programs that are designed to help you deal with your various paperwork and documents. From tracking and storing files to sharing and collaborating with coworkers or clients, document management software allows you to minimize the amount of physical paper you handle on a day-to-day basis.

How Document Management Software Helps

  • Storage -- Since many document management systems are cloud-based, you're able to save an incredible amount of desktop or server space by saving files on the web. Just as you access a spreadsheet or presentation on your computer's memory, cloud-based software makes it incredibly easy to access your files with the click of a mouse.
  • Management and Operations -- Properly managing your documents can have positive effects on critical business functions. By having your documents in one place, you're improving customer service by reducing the time it takes to access information, you're promoting productivity by allowing disparate teams or employees to collaborate together in one space, and you're streamlining other important business functions.
  • Access - Cloud-based document management solutions allow you to access your documents from anywhere. Whether you're on your laptop in the office or on your tablet in the airport, you're not restricted to one device in order to access your business' important information.
  • Sharing -- document management software makes sharing files -- both internally with your staff and externally with clients -- a breeze. What's more, you can save valuable space in your email by not having to send large files (you know, the ones that get bounced back due to size) through your email service provider.

Minimize Risk with Document Management Software

A great built-in feature of today's document management systems is the layer of security you're adding by archiving your files on the web. Imagine your laptop gets stolen and you hadn't recently backed up your server. Or, your office is part of a large fire and your filing cabinet isn't fireproof. Consider the many tweets and daily forum posts of folks looking for help after they lost all of their files after their computer crashed.

No matter the reason behind lost or damaged business information, the fact is that your hard work would be lost or sensitive data could find itself in the wrong hands. By using proper virtual document management software, you're safeguarding yourself against losses of productive time and effort and potentially important confidential business information.

Save with Document Management Software

Sure, document management software costs more up front. But just as with legal contracts and insurance, if something awful happens, you'll be very glad you made the investment. Otherwise, your business could be in serious financial jeopardy dealing with lost productivity, poorly organized collaboration, and risk lost information.

Learn more about document management software at Business.com.

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