Ever since the inception of your business, you're dealing with heaps of business data, existing primarily in paper form. However, the data can get too much, and, in some circumstances, you might not even know the whereabouts of specific files.
In simple terms, it can get overwhelming and can drastically impact your business's efficiency. But you didn't start your business empire to see it slowly crumble and let someone else take it over, right?
Well, you need something to organize your data in simplified file formats. Nothing can do that better than an Enterprise Document Management Software!
Wondering what it is?
Let's dig deep to find out…
But What is An Enterprise Document Management Software?
It's a document management system (DMS), enabling you to organize all the business documents (both digital and paper files) in a single, accessible repository. In simple terms, it’s an electronic document management system (EDMS), helping you go paperless and mainstream your business operations.
You can organize, store, index, and protect different business documents in EDM software. But that's not it. Suppose you even have documents existing in paper format. In that case, EDM has scanning features, allowing you to capture and store the digital version of the paper document.
However, EDM technology has snowballed in a few years, and the burst of innovations in various document management solutions has left many people confused. For example, you see, many people confuse EDM with content management system (CMS) – a type of software with many points in common.
Yes, we know they seem similar, but there are some notable differences between them. Let's help you out in distinguishing between the two platforms.
Classification between EDM and CMS
To burst your bubble, both these platforms are part of the same boat. But then, what makes these two different? Hang on, we'll get on that in a bit, but let's first understand CMS.
CMS software can manage multiple types of digital documents. Hence, now you can not only manage PDFs and word files, but you can also handle images, audio files, web pages, and flash files with CMS.
In simple terms, CMS is the bigger picture, and within that lies EDM. So, you see, both of these systems have a lot in common, but they have varying characteristics and applications. Let's start identifying the differences between the two.
Type of Content
EDM is used to organize paper, structured, and electronic documents. However, an ECM has more to offer – it can capture, manage, and store various kinds of structured and unstructured documents such as videos, audios, contracts, purchase orders, and receipts.
Since an EDM is mainly used for managing business documents, it has features such as optical character recognition (OCR), handprint character recognition (HCR), optical mark recognition (OMR), signatures, stamps, etc. However, you cannot find such tools in a CMS because you don't need them there.
What's In It for Me?
If your organization is still paperless, just observe the number of documents you create each day. You may be surprised by the number. For example, let's say you're in a B2B organization. In such a situation, your business may contract with many different organizations.
Contractual info, pay orders, personal details, supplier's orders – we haven't even started, and the list can go on. Hence, it creates a cluster of documents, and there is a high probability of misplacements.
To avoid any misplacements and document clutter in your business, EDM is what you need.
But that's not all. Here are the notable benefits of incorporating an EDM in your organization.
High Storage Capacity
The documents can have high storage requirements, and when you have thousands of them, you surely need a large storage capacity. Fortunately, EDMs have increased storage capacity, allowing you to store a large volume of data at a central, focal location.
Organizes Data at a Central Location
As mentioned above, you get to save every piece of your business data in a single repository. Moreover, each data piece is classified with specific metadata (a reference). Hence, you can retrieve the required fragment within seconds by typing a distinct keyword, topic, index, etc.
Now, you don't have to dig up piles of documents; with just one click, you can get your required data. Isn't it great?
So, you have heaps of files locked out in a warehouse. What if there's a fire or flood at the warehouse? Or what if the files are stolen? Hence, theirs is an inherent risk, enough to destroy your business empire.
With an EDM, your data is backed up on your devices and the Internet. But what if the files are hacked? Well, don't worry. EDMs are stored on a cloud-based platform having multiple security SSL layers. Hence, the system is safe and out of reach of hackers and malicious cyberattacks.
Collaboration and Sharing Documents
An EDM allows you to share data files with internal as well as external users. You don't have to print files and continuously ping up suppliers. You can give them access to documents with a single click, and they can view them at their ease.
Tell Me More About the Working of an EDM!
At the start, you might be clueless about using an EDM. But don't worry. Although EDM software can differ significantly, let us break down a typical process.
The process starts with capturing and digitizing data on the EDMs. Here's how you can catch different types of data:
- Paper-based documents: these are scanned and assigned a specific index term (for reference)
- Emails: Document management software can also capture emails and their attachments, storing them on the basis of the recipient, subject line, or sender.
- Business reports: business systems generate reports, which can be automatically captured by a document management system.
Once the relevant data has been captured, it is stored in a central document storage area, i.e., an electronic file cabinet. This pivotal position holds and manages data coming from various sources. On this platform, you can provide access to relevant authorized people who can use the data.
You can even control the security and view the version history of a particular document.
Retrieving and Distribution
As mentioned earlier, all the data files are saved with specific metadata or index term. Search engines on the platform enable you to retrieve the data quickly.
Moreover, you can grant access to the relevant stakeholder who requires the specific document.
The Ideal Enterprise Document Management System!
Till now, you must have got the hang of the usefulness and process of an enterprise document management system. But before you go out purchasing software for your purchase, let us tell you there are a lot of providers out there.
Hence, you need to be careful. There are some essential features that you must have in your EDM. Before you make your purchase decision, look out for these features:
- Check-in/Check-out: A feature that helps with editing and formatting the documents
- Version Control: You can check the previous edited versions of the document by using this feature.
- Keyword Search: Your software must have a relevant filter to quickly search for documents
- Security: It helps with limiting the permission access to authorized personnel.
- Audit trail: It helps you find out every edit made on a document
- Document Sharing: This goes without saying. Your software must be able to provide access to different parties.
Here it is - the complete list of the bare minimum requirements for a perfect EDM system.
Streamline Your Business with EDMS!
An EDM system offers endless benefits to upgrade your business's efficiency. But it all comes down to the software you're purchasing. You know when you need one if:
- You can't manage and organize documents
- Your business efficiency is getting effected
- You face delays due to document-related problems
- You are facing compliance issues regarding document-related problems
- Book-keeping and account-related problems often get tricky.
Tired of all such problems? Want to see your business achieve new heights of efficiency, enabling you to churn in more profits?
Hear us closely as we have something in store for you – a special EDM software with all the crucial features, ready to take care of all your business needs. Here's is how it'll help you out:
- Provides both content and records management
- The web-based interface supports document friendly options
- Allows setting security roles
- Enables audit of enterprise records and registers
- Allows running multiple tasks all at once
That's not all. This software is available in three different deployment functions:
The software is directly installed in your operating system.
Software is installed on a specific server within the organization. It stores documents at a single location, and it's accessible to all the workstations in the organization.
- Cloud-based document management server
Access your business data anywhere using the Internet. The cloud storage platform allows access to data online 24/7.
Make Your Life Easy with LogicalDOC!
LogicalDOC is here to take care of all your business problems. With the necessary features to organize your business data, we are ever ready to help you out.
Reach out today to check out our various offerings!