What Are the Benefits of Document Management Software?
- By Renato Parletta
- February 25, 2022
Did you know that over 21% of productivity loss is attributed to document issues? About 46% of employees find locating the documents they need challenging and time-consuming. About 84% of them recreate documents they can’t find.
What if there was a better and easier way to manage and find documents? The truth is that every business could benefit from document management software. If you’d like to know more, keep reading our document management software guide.
Electronic File Storage Saves Space
Traditional filing cabinets can take up a lot of space, and in medical practices where every square foot is precious, this is not ideal. Not to mention, if your office moves or needs to expand, it can be challenging to transport all those file cabinets with you. All your files are stored in the cloud with an electronic document management system.
This means you can access them from anywhere. Moreover, electronic document management systems make it easy to archive old files. This is very important in medicine, where regulations often change. With the click of a button, you can have all your old files archived and out of the way.
As we all know, the medical industry is a target for cybercrime. With a DMS, you can improve your security posture by encrypting and password protecting your files. This makes it much more difficult for criminals to gain access to your confidential data.
Additionally, many document management systems have audit logs that track who is accessing your files and when. This can help you quickly identify any suspicious activity. Document management software is a tool that every medical practice should consider implementing.
According to a study by IDC, document management can increase employee efficiency by up to 20%. Employees spend less time looking for documents and more time getting their work done. This improved efficiency leads to greater productivity and a more streamlined workflow.
In the medical field, time is of the essence. The faster and more efficiently documents can be accessed, the quicker patients can be treated. A DMS can also automate many tasks that would traditionally take up a lot of an employee’s time.
DMS solutions also allow for multiple users to work on a document at the same time. This increases efficiency by allowing tasks to be completed in parallel. A well-implemented DMS can help an organization become more efficient, saving time and money.
Easier Regulatory Compliance
Maintaining compliance with ever-changing healthcare regulations can be challenging. Complying with HIPAA, ICD-IO, and other government mandates is daunting. Still, it’s crucial to protect patient data.
A well-designed DMS can automate many of the tasks required for regulatory compliance. Robust tracking features can keep detailed logs of user activity, document modifications, and more. This information can help prove compliance in the event of an audit.
A workflow is the sequence of tasks that need to take place for a business process to be completed. A good document management system will automate these sequences and improve office productivity. The right DMS can help an organization track, manage, and monitor its workflows to optimize them.
When tasks are automated, it frees up employees to focus on higher-level tasks. It also allows for better communication and collaboration among team members. It’s better when they can easily access the documents they need when they need them.
Many document management software programs also include Optical Character Recognition technology. This means that you can scan physical documents. The software will automatically convert them into digital files.
Document Backup and Recovery
Data loss can be a nightmare. With the proper document management software in place, you can minimize your risk of data loss. You’ll ensure quick and easy recovery if disaster does strike.
Most DMS solutions offer cloud-based backup storage as part of their service. Your documents are always safe and secure, no matter what happens to your office or computer hardware. In the event of a data loss, document retrieval can be quick and easy.
This will minimize downtime and lost productivity. A well-implemented DMS also allows for version control, so you always have access to the most recent copy of your documents. This is critical when dealing with important or time-sensitive information.
Integrates With Legacy Systems
Maintaining electronic document management software is critical. It reduces redundant data entry and improves the accuracy of information. Many healthcare organizations have legacy systems that need to integrate with the new DMS.
A good DMS will offer a robust and comprehensive integration platform—one that can easily adapt to various formats, including older systems. A study found that the average healthcare organization has more than 60 different information systems.
Some include patient care management and laboratory information systems. Others include radiology information systems, clinic management software, and others. These systems can create data entry challenges and vulnerabilities.
They need to be properly integrated into a cohesive system. A good DMS will offer an efficient and effective way to manage these disparate systems.
A DMS should also offer a secure method for transferring files between different information systems. This ensures that no critical patient data is lost or compromised in the transfer process.
Increased Productivity and Collaboration
The ability to quickly find and share documents is essential for any business. When everyone has access to the most up-to-date information, tasks can be completed faster and with fewer mistakes.
Collaboration becomes easier when documents are in a centralized location. No more emailing files back and forth or printing out multiple copies of the same document. With a DMS, everyone has instant access to the most current version of the document.
A DMS also allows for version control. This is essential when multiple people are working on the same document. With a DMS, you can easily track who made which changes and when.
The right DMS will also allow easy collaboration between employees in different locations. With secure access to files, everyone is able to work at their own pace and on their own schedule.
Document Management Software Explained: The Benefits
Understanding document management software benefits is essential for all businesses. The thing is, it provides a number of benefits.
They include improved document security, increased document control, and document recovery. If your business is looking for a way to improve document management, this is it.
To get more document management software tips and benefits, contact us today. We would be happy to help you get started with the right document management software.