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5 REASONS YOU MUST HAVE DOCUMENT DEPOSITORY

In every organization, documents bear the same importance which oxygen has in a human body. Regardless of their form; i-e electronic or hardcopy; they are the soul and blood of any enterprise.

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5 REASONS YOU MUST HAVE DOCUMENT DEPOSITORY

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  1. 5 REASONS YOU MUST HAVE DOCUMENT DEPOSITORY

  2. In every organization, documents bear the same importance which oxygen has in a human body. Regardless of their form; i-e electronic or hardcopy; they are the soul and blood of any enterprise. Documents are maintained and managed in all circumstances, because even after they have served their purpose, they cannot be discarded. This raises a concern for managing them effectively because it is not an easy task to retain and manage enormous amount of documents.

  3. In their paper form, documents require physical space in an office for keeping them. Even if you dedicate a room for them, you cannot be sure about their safety integrity, security and accessibility. On the other hand, electronic documents need a document depository and management system which costs quite a lot. However, considering the benefits, getting a document depository won’t feel such a financial burden. In this article let’s take a look at top 5 benefits and reasons for having an online repository.

  4. 1. REDUCE STORAGE SPACE Population explosion along with urbanization has led to raise costs for commercial property. With every passing day, space cost is increasing therefore; it has become impractical to dedicate space for storing paper. A digital document depository can reduce and even eliminate the need for physical space to store documents. Hence, a digital management system can present a cost effective solution for storing documents.

  5. 2. ENHANCED SECURITY Documents in their hard-form are prone to damages such as weather, insects, and fungus and so on. Other than this, they can be stolen or can be viewed by unauthorized people. A digital depository, on the other hand, offers a practical and secure solution for keeping sensitive data.  It allows good control on data access by protecting sensitive documents from unauthorized access. With the help of an audit trail, an online repository indicates who has accessed which document, and the modifications which were made.  A digital DMS makes sensitive data highly traceable, and in case of unauthorized access an alert can be automated.

  6. 3. IMPROVED REGULATORY COMPLIANCE As all sectors are becoming digital and require strict compliance, adhering to compliance requirements can be tricky and complex for some documents. Violating these protocols can amount to imposition of fines, revocation of licenses, even criminal liability. Strict guidelines and protocols directed by federal or state regulatory bodies are mandatory. With an effective online document repository, the risk of non-compliance can be reduced, and adherence to guidelines can be ensured. DMS can store and classify new documents easily.

  7. 4. EASY DOCUMENT RETRIEVAL It goes without saying that accessing digital documents is far easier than retrieving documents in paper form. In case of paper documents, finding a particular document from a sorted bulk of data is very time consuming. As time is the most valuable resource for any enterprise, digital records make it easy to access a particular page. As per studies, a typical office worker spends around 30% to 40% of their work time in searching a hard-form document, every day. On an organization scale, enterprises spend almost $20 to file a document, $120 to find an unsorted document, and $220 to reproduce a lost document. Digital repository eliminates this cost, resultantly increasing productivity and business growth.

  8. 5. DISASTER RECOVERY AND BACKUP Backups are important to avoid any damages in case of a disaster or emergency. A document depositoryusing a digital space makes it easier to keep backups and recover lost data. Even in case of natural disasters, you can be sure that the data won’t be damaged because of flood, fire, and other disasters. An effective DMS makes documents highly traceable. Due to this quality, there are lesser or no chances for a document to be lost or misfiled after viewing.

  9. 6. INCREASED PRODUCTIVITY As mentioned in section 4 of this article, high amount of time is consumed in manual handling and management of documents when they are in paper form. An online repository saves all this time, and results in increase productivity. This has a direct impact on employee morale and satisfaction because his efficiency is increased. Moreover, document management systems are scalable and responsive to accommodate changed needs of the enterprise.

  10. FINAL WORDS An efficient and custom online repository helps simplify document management and streamline business processes. To benefit your enterprise from the offerings of a digital document repository, get in touch with Aiken & Welsh for a cost-effective and comprehensive DMS. With us as your partners, you can enhance business productivity, streamline business processes, and be sure that your business stays competitive and profitable. To get a quote, visit our website or talk to our representative. Source: https://cherishsisters.com/5-reasons-you-must-have-document-depository/

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