What is a Document Management System?

Document Management System (DMS) is a computer-based system used to create, store, manage, index and distribute digital documents through a centralized repository. This system should be able to record different versions of documents created and modified by different users throughout the document life cycle.

A document management system is a framework that facilitates the smooth flow of critical information throughout the organization. 

Why do you need a document management system for your Businesses?

Every document is indispensable and is considered a key component of any business. Documents play a main role in the right operational and total success of any business.

The rapid digitization of the business world has led to an exponential increase in business data and documented content. These documents are often scattered throughout your functional departments and the relevant stakeholders on the distributed network. It is a challenge for the organization to handle piles of documents in various digital formats that are often not structured. Therefore, a good document management service is required to design and manage such data. DMS will make these documents available to your employees, clients, partners or other stakeholders seamlessly and securely.

To be competitive, the business must automate document handling with an effective electronic document management system (EDMS). EDMS is a set of products and services that allow you to electronically store, find, retrieve, share and track documents electronically.

By having a good electronic document management system incorporated into your business, you can:

• Access the documents quickly. Employees have quick and easy access to the most current security- and training-related documents through EDMS.
• Achieve increased security by having documents protected by encrypting the data.
• Save cost and time spent on storage and handling of paper documents.
• Increase productivity, collaboration and process quality. With the right documentation at the right time, companies can reduce the chances of defects and miscommunication.

In short, the DMS plays a big role in making all the tasks related to document management easier, faster and more efficient.

What are the 6 essentials Components Of Document Management System?

Implementing effective DMS is critical to business success in the digital transformation era. So, when looking for a reliable document management system, consider what the ideal DMS should be.

A competent DMS comes with main features that include: document access control, versioning control, tracking, real-time collaboration, password protection, real-time notifications and more. Storing files in the cloud helps ensure your company's documents don't go wrong and are easy to access by the right party.

Components Of Document Management System

The following 6 essential Document Management System Features will help you to rate your system:

1. Capture – DMS captures documents from various sources. The main ones are paper document scans, emails, reports etc. In addition, system-generated reports from integrated applications such as customer relationship management (CRM) and enterprise resource planning (ERP) are also captured.
2. Store – In today's world of automation, cloud storage businesses need to have a centralized Repository of electronic documents. The storage mechanism increases accessibility and saves a huge amount of time over paper-based storage.
3. Locate – The document management system allows you to store and search your documents in one central location.
4. Index – The meta tags attached with every piece of document allow you to drill to the desired document with parameters searched and find information easily. Cloud-based document management services allow you to update and manage data at an accelerated pace.
5. Retrieve – Usually, office employees spend approximately 30% to 40% of their day searching for printed documents that are now possible with DMS in a couple of seconds. The ability to pick exact document(s) for a matched query against a set of free-text records. The system drills in the Document Repository System and brings the result of matched records to help you retrieve the desired document fast.   
6. Track – The audit logs keep track of actions performed on a file, especially updates and edit history. DMS track down where these documents are coming from, who has access, date stamps, and through change history how they’re being used,

In addition to these key Components Of Document Management System, the DMS with scalability and the ability to add automated workflows are highly appreciated in the market. We look next at the tangible benefits that DMS or EDMS can bring to your business.

What are the benefits of having a document management system?        

One of the major benefits of having a document management system is easy to access information.

From a business perspective, companies benefit from DMS in the following ways:

• Saves on supply and storage costs.
• Saves money on new work to manage paperwork.
• Gets more reliable solutions as digital documents are more accurate
• Saves time and resources handling documents as with Document Handling System, employees can retrieve information quickly and easily.
• Improves workflow allows employees to provide better service to customers and improve turnaround.
• Provides effective collaboration among multiple stakeholders in a workgroup.
• Protects data through access control and security risks of data breaches.
• Ensures regulatory compliance through checkpoints and document control features, easing audit requirements.
• Eases data management through versioning and controlled backup for recovery features.
• Trusted DMS, such as the one provided by WeP, hosts Enterprise Document Repository on Azure or AWS cloud and also ensures disaster recovery.

WeP Digital Document Management system

In today's fast-paced world, document management has many big business and corporation needs. To maintain competition and prevent data theft, they need  high-security centralized data management and can do nothing better than WeP Digital DMS.

WeP Digital Document Management system is a complete ecosystem to enable your digital. In this rapidly changing digital landscape, WeP DMS lets you take advantage of state-of-the-art capabilities and solutions to help establish, support and track your digital transformation journey.

Some salient Document Management System Features of WeP DMS are:

• Supports AES 256 Encryption level.
• Intuitive workspace and folder design.
• A real-time file preview functionality for viewing documents without downloading.
• File annotation ability to easily review the document while keeping the original version.
• Audit logs tracking actions performed on a file.
• Configurable templates for standardizing folder configurations.
• Advanced search capability with metadata.
• Build efficient partnerships with our partner space.
• Advanced file sharing controls, Folder level user permissions and privileges for secure collaboration.
• Inline information rights management system.

Business Process Automation through an easy-to-use workflow designer at WeP thus allows enterprises to customize DMS for their business with zero or minimal coding. It will help you simplify content management and streamline the business process on a greater scale. Book a free demo to find out the real power of WeP DMS.