One of the most important IT tools, a document management system is employed by an increasing number of companies which are aware of the advantages of using electronic documents. Good quality software makes it possible to gather all company documents in one easily accessible digital repository and archives, and to efficiently manage all tasks relating to their workflow in accordance with applicable procedures. The most modern and technologically advanced digital document workflow systems allow companies not only to significantly improve their operations and optimise business process management, but also to start successful implementation of digital transformation assumptions and effectively pursue their digital strategies.
How does a document management system support company operations?
Several years ago, all companies and organisations still relied on paper documents and traditional methods of managing their workflow. This entailed numerous problems, disadvantages and vulnerabilities, including inter alia chaos and disorder, high risk of losing, destroying or overlooking important documents, poor data protection standards as well as costly, time-consuming and very complex document workflow procedures. The arrival of the digital document workflow effectively eradicated nearly all those problems, making work with documents easier, faster and better organised, and their workflow within organisations far smoother and more transparent.
Electronic document workflow is ensured by means of dedicated business document management software. A document management system (DMS) is a modern IT tool which involves digitalisation of some or all company document resources, and their electronic storage in a digital repository and archives in the cloud or on company servers. Duly authorised persons get fast and easy access to documents directly from the DMS software interface, which in practice allows them to handle all document-related tasks and processes. Centralisation, standardisation and monitoring of document management and workflow within an organisation are the DMS advantages which are particularly important from the management, controlling and audit perspective.
Why should every company consider implementation of a document management system?
Replacing paper documents with their electronic versions and managing their workflow with modern DMS software based on truly innovative technologies and mechanisms provide for a major enhancement in the management of a company's business and operations. DMS solutions allow effective management of digitalised document resources, guarantee fast and convenient access to data and enable efficient and smooth transfer of information and files. The highest security standards guarantee adequate protection of sensitive data, and the top-down process of assigning access rights prevents leaks and unauthorised editing.
In addition to standard DMS functionalities, modern document management systems allow also efficient automation and optimisation of business processes. Besides a significant improvement and acceleration of work with documents, a top-class document management system helps structure business processes by organising and optimising them at their very roots based on strictly defined workflow paths which are analysed in terms of efficiency and compliance with procedures (the so-called business scenarios).
Adequately thought-out and implemented digital document workflow can therefore be a real support for a company in striving for Process Excellence and become an exceptionally useful tool in implementation of the assumptions of Lean Management.
The market for IT business solutions is developing at a tremendous pace these days, with the awareness, needs and IT budgets of companies growing. In response to that, new vendors of various business software emerge, and well-proven solutions already available on the market are being intensively improved, upgraded and enhanced. Naturally, this applies to DMS software as well! The most functionally advanced solutions regarding digitalisation and optimisation of document workflow processes rely on a number of innovative technologies, increasingly often including unique and original mechanisms based on inter alia business process automation (BPA), robotic process automation (RPA), machine learning (ML), elements of artificial intelligence (AI), optical character recognition (OCR), digital signature and many other solutions which enhance their functionality and increase their capabilities and advantages both in the area of IT and business.
What document management system is worth choosing?
A document management system is undoubtedly a solution that facilitates and improves day-to-day work with documentation which allows organising it according to the best standards. However, to be able to get maximum satisfaction from implementation of such a system, one must select a well-proven and modern solution which will provide for full use of the potential of work with digital documentation. It is worth doing, all the more so as benefits offered by implementation of such software can be truly significant.
According to the Total Economic Impact™ of WEBCON BPS, a commissioned study recently conducted by Forrester Consulting on behalf of WEBCON, implementation of a low-code platform for process automation and electronic document workflow allowed the studied company to accelerate internal process handling by 87%, save more than 21,000 working hours, significantly improve the performance and satisfaction of its workers and save more than PLN 2 million due to reduction in process handling time. With ROI amounting to as much as 113%, the investment in the platform paid back more than enough and will bring clear profits from now on.
To achieve similar results, one should invest in purchasing and implementing modern and promising software which will combine comprehensive functionality in terms of document management as well as automation and optimisation of business processes with guaranteed high flexibility and scalability. Therefore, special attention should be given to the increasingly popular low-code platforms. Based on digitalisation, automation and workflow mechanisms, they allow fast and easy delivery of the so-called business applications which are able to handle up to 90% of all business scenarios relating to document, task and information workflow in an organisation. Importantly, low-code platform provide for continued supply of IT tools which business users need, either without any coding or with coding elements where they are technologically or economically justified – e.g. for more complicated scenarios or advanced integrations with other systems, which is particularly appreciated by large companies and corporations that have well-developed business processes combined with an IT ecosystem.
In response to the growing needs of organisations regarding effective change management, fast introduction and execution of modifications, procedure updates and process optimisations and testing of new business initiatives and models, some low-code platforms offer also high flexibility as well as agile and iterative application development. Not only do they allow fast and easy creation of business applications for specific business scenarios, but they also provide for efficient and fast (and therefore cheap!) implementation of changes and modifications in instances which have already been develop or even operate in the production environment. This brings the ability to flexibly align document workflows with the current needs as required by the rhythm and pace of business and changed taking place in the business environment.
Such an approach to implementing a document management system can bring many quick wins and ultimately initiate a successful and broad digital transformation of an organisation.