Monday 14 November 2016

What are the most highlighted benefits of using document management system (DMS)

Organizations will ask the benefits of document management systems to them before investing into new technology. But like any other tool Document management system DMS rests entirely on how to use it. There are several advantages on using document management system :
1.       Reduce mailing costs :
                                      It is the most basic impact on every organization, before the usage of document management system you will have mailing costs to pay. But after using this software you will have few costs or maybe no costs in some situations. The costs will reduce up to certain point which will affect the efficiency of the business and it will increase on higher levels.

2.       Enable staff to work more efficiently:
                                                            Efficiency can’t be measured through dollars but yeah in some cases it can be. The HR department might hire employees to manage the company increasing department staff. However using DMS the HR department will be able to automate  posting jobs on third-party career sites, data entry and filing. By automating these manual tasks the HR department was able to hold off on hiring new team members.

3.       Minimize the risk of Record keeping Fines :
                                                                       A quality DMS does more than just help you go paperless. Beyond eliminating the need for employees to take time manually filing records, it can also help you comply with recordkeeping requirements.



These are some major and highlighted advantages for any organization of the benefits of using and investing in Document management system (DMS). 

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Wednesday 9 November 2016

what are the basic Reasons to Manage Contracts with Document Management Software???

Contract management can be a paper-heavy and time-intensive process due to excessive contract length, revisions and approval steps. In addition, contracts must be stored in an easily accessible place so that they are available for reference at any time until they expire or are renewed. Here are five reasons why a document management system is a great tool for contract management.
1. Decreased Costs
Storing contracts in an electronic repository results in decreased storage, printing and courier costs. Contracts can be shared by email or through an online web portal—eliminating the need to ship huge packets of paper. They can also be signed electronically, eliminating printing completely.
For example, Arquivo Digital manages contracts for vehicle financing in Brazil. By automating contract management, contracts can be scanned in at any location—including the depths of the Amazon jungle—and accessed immediately through an online portal.

2. Central Control

It is possible to store all versions of the same contract in one document, ensuring that the newest version is always the one being accessed and revised. Different levels of contract access can be granted to different individuals. For example, the legal counsel will be able to edit the contracts while the records manager may only be able to read the content.
For example, Fairfield Industries uses an ECM system to manage valuable contracts related to seismic equipment. The system gives the organization the ability to provide the landman with instant access to the documents he needs—while still protecting confidential information in compliance with regulations.

3. Improved Accountability

Electronic contracts stored in a repository can be accessed from any computer or mobile device. Making contracts so easily accessible leads to improved accountability over stipulations and conditions, since a contract can be viewed at any time. For example, United Road Towing scans all documents related to towed vehicles into an ECM repository and makes them available to its customers through an online portal. Customers can access the towing contract and all related documents on the same day as the tow, eliminating any confusion regarding the conditions of the tow.

4. Increased Productivity


Reviewing and approving contracts is faster when an electronic contract arrives in your email inbox rather than a hard-to-sort stack of paper delivered via a courier service. Even if the recipient is out of the office, he can review and sign the contract from a mobile device.

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