Document Management System (DMS)
Document management, often referred to as Document Management Systems (DMS), is the use of a computer system and software to store, manage and track electronic documents and electronic images of paper-based information captured through the use of scanners or other hardware.
Document management is how a business, management company, homeowner’s association stores, manages, and tracks its electronic documents, resale or finical documentation, governing documents or collections.
Just the Facts
- The average office worker generates about 2 pounds worth of paper and paperboard products every day and uses 10,000 sheets of paper per year.
- The average business’ paper consumption grows by 22% per year, meaning in 3.3 years your paper consumption will double.
- A typical four-drawer file cabinet holds an average of 10,000 to 12,000 documents.
Document management and the software that controls and organizes documents throughout a business incorporates document and content capture, workflow, cloud-based document repositories & databases, output systems, and retrieval systems. Most modern DMS also can be used to track, store, and control documents from any device, from any location that has viable internet connect.
Key features in document management system include:
- Reporting and tracking document, from origination, to preparation to deliver, to reconstruct the pathway of any document during the course of its life in the system.
- Automation is the future and we are ahead of the curve. More and more products and services are becoming easier to use through automation and integrative technologies.
- When your office goes paperless and invests in a DMS you don’t have to worry about losing and finding a document again. All of your documents will be organized and stored in a cloud-based area, indexed in the exact way you specify.
- Going paperless makes this a simple task by digitally managing every file and document. Enable title companies, lenders, and real estate agents to request necessary documentation required for a resale package, property closing or refinancing in a secure online environment.
- Having a digital office makes it easy to access your documents from anywhere with an internet connection. When you are traveling or out of the office working from home, a digital office makes it very simple to retrieve any necessary documents.
- Streamline production of business-critical documents that are stored in a fully centralized, searchable, web-based repository so your data is always at your fingertips.
- DMS that integrate with a company’s website & accounting software for maximum efficiency.
Today more information available to us today than ever before, and most of it is not being created by us. Thanks to the mainstreaming of a whole range of sources like the Web, thumb drives, smartphones, etc., the need has accelerated to deal with information of all kinds: not just in terms of more media types like text vs. images vs. voice files, but also in terms of how structured and thus how documents are readily managed, stored and secured.
Document Management Systems today range in size and scope from small, standalone systems to large scale enterprise-wide configurations serving a global business to serving niche markets such as Real Estate, Law Firms or HOA & Condo Associations. Many document management systems provide a means to incorporate standard physical document filing practices electronically, including adding Signatures, Certified Mail.
Many modern Document Management Systems include:
- Storage location in a cloud-based environment.
- Security and 24/7 access control.
- Centralized, searchable, web-based repository.
- Email and App notifications.
- Audit trails, reporting and tracking.
- Integration with associated software such as accounting or collection software.
- Multiple Levels of Permission and group dynamics.