Tech tools can assist business growth in multiple ways, including improved operations, better customer service and more effective marketing.
Use our blog series to understand the advantages and disadvantages of tech tool options for growth.
Part 5: Document Management Software
Document Management software automates the creation, secure storage and distribution of all types of documents online, reducing paper clutter and promoting efficiency.
Advantages
– Access documents anywhere/anytime
– Unify document storage for easy, secure access, to avoid multiple location storage and versions (on computers, servers, CRM, web, paper, e-mails)
– Group Collaboration through file sharing
– Track and archive documents
– Safeguard data from cybercrime, ransomware, and disasters by encrypted cloud-based backup
– Aid compliance with audit trails
– Reduce physical storage costs
– Elimination of added technology and hardware costs
– Streamline processes and cut waste
– Eliminate document loss or damage with automatic backup
– Free up time for other priorities
– Cost of software
– Installation cost and time
– Staff training and motivation to ensure correct use
– Consistent Internet connection required with sufficient bandwidth
– Some companies prefer local hard-drive/server to remote cloud storage
– Risk of data breach/hackers
For further information see https://startups.co.uk/uk-based-cloud-backup/
Features
Typical features include:
Document Capture and Imaging – Documents are digitised, using imaging technology
Document Storage – Records are stored, accessed, shared, edited on one platform
Document Search – Metadata (such as author and file name) is assigned to files to index them, they can be searched for by keywords
Permissions – Access for individuals and groups is managed, for viewing and editing
Collaboration – Files are shared with individuals and groups, allowing for addition of comments and revisions
Archive – Confidential data is classified and archived in central storage
Workflows – The life-cycle of contractual documentation is managed using rules-based processes, such as review and approval of draft documents and revisions prior to publishing
Virtual Data Room -Additional protections for online storage and sharing of confidential information
Mobile – Content can be created and edited on mobile devices, and data is displayed in mobile-responsive format.
Example Of Use:
If a customer calls to complain, past interactions might not be captured, meaning you start over again, delivering a poor customer experience and tying up staff resources.
However, with case management software all customer interactions can be seen, plus any useful records such as a contract, to decide how to proceed.
Reports can be generated to show key performance metrics and progress towards resolving open claims.
https://www.softwareadvice.com/cms/#buyers-guide
Considerations
Implementation
What support resources are available to train staff? Such as: training videos and documents, free demo, email/help desk support, FAQ/knowledge base access.
Cost
Most products are priced on a “per user, per month” basis.
How much are additional features such as optical character reader (OCR) integration, version control, workflow automation, and document scanning?
Integration
Check integration with your other key systems such as Microsoft Word, Excel, PowerPoint, Google Docs, E-Mails, Accounting, CRM, HR, Cloud Storage, Open APIs and Project Management.
This ensures scalability and allows company-wide document text searches, for example, during internal or external audits.
Security
What security credentials are in place against external threats (such as hacking and data breaches) and internal threats (such as employee theft)? Latest protocols include AES and SSL/TLS encryption.
Document Scanning and Imaging
Consider Optical Character Recognition (OCR), which converts written documents into a digital format.
Scanning and digitally storing paper documents with accurate keyword indexing helps user searches.
Purpose
Do you simply need an off-site automatic backup, to sync, store and share files (such as OneDrive, Dropbox for Business or Google Drive)? Or do you need the benefits of collaboration, editing, workflows, access control, image management, distribution, compliance, indexing, conversion and OCR a document management solution provides?
- Is GDPR compliant
- Encrypts ‘at rest’ stored backups
- Avoids the Patriot Act (gives US Government access to data held)
- Has good backup and recovery speeds
- Has strong customer support, such as 24-hour UK-based technical advice by phone and email
- Holds ISO9001 or ISO27001 certification, for reassurance customer data is secure
- Has their own data centre, or if it is outsourced to a third party, who this is, where data is stored, and track record for cybersecurity
Safety
Examples
Examples of Document Management Systems to consider, as reviewed by Capterra, Startups.co.uk, SoftwareAdvice.com and TechRadar:
1. Microsoft OneDrive
Easy use, fast load speed, mobile, low cost, live syncing of devices, file sharing, online editing, encryption, two-factor authentication and handy tutorials.
2. Dropbox Business
Strong security controls, user-friendly, fast transfers, device auto-sync, editing and colleague collaboration.
3. Google Drive
15GB free storage, easy-to-use, online editing tools, encryption, excellent app, fast data transfer, device syncings, needs stricter password settings.
4. Logical DOC
Content management solution for all business size and sectors. Access control, communication, permission and file management, drag and drop interface, customisable branding.
Pre-built document templates, tools to search uploaded documents, bookmark specific files, convert into multiple formats, edit documents and import or export content from ZIP archives, e-mail boxes and desktop devices.
Version control, integrated HTML editor, digital watermarking, optical character recognition (OCR) and multilingual full-text indexing. On-premise or cloud hosted. Phone support.
5. Bynder
Branding, marketing and digital asset management (DAM) tools for businesses of all sizes.
Manage, maintain and distribute public and private digital assets, including videos, documents, and images.
Organise company digital assets into a centralised, searchable, database that can be accessed by any employee from any location. Two-factor authentication, access and editing rules can be set on an individual or peer-group bases.
Cloud-deployed platform, can be accessed from any web browser.
Suitable for companies of all sizes and industries. On-premise or in the cloud.
Manage digital data through automated organisation, approvals and sharing from one dashboard. Optical Character Recognition (OCR) automatically names files, builds a dynamic directory, and sends them where they need to go.
Integration with Salesforce, drag and drop and manage files from either system. Mobile device access – take pictures of documents and upload directly to the app.
7. Box
Suitable for companies of all sizes and industries. Security and admin controls, sharing and collaboration capabilities for global users.
Compliance with HIPAA, FINRA and FedRAMP, granular access permissions and advanced security capabilities – watermarking, data governance and device trust.
Collaboration on all file types and devices, choose where to store data, manage encryption keys, set metadata-driven workflows to automate content-based processes.
Integration with Microsoft Office, Google Apps, Salesforce, Adobe and others. Integration across open APIs.
8. Docuware
Scalable, invoice processing, many integrations, Cloud-based, mobile support, ‘cloud workflow’, mobile apps – scan receipts, approve invoices, and sign forms on the go.
9. EisenVault
10. Zoho Docs
For full reviews and further info see:
- https://startups.co.uk/best-cloud-storage/
- https://www.softwareadvice.com/cms/
- https://www.capterra.com/document-management-software/#short_desc
- https://www.techradar.com/best/best-document-management-software
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