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What is Document Management | Buzzwords

Businesses in every industry can benefit from document management, as this enables companies to control the flow of documents for increased efficiency, productivity and security. But what is document management, exactly? In this video, you’ll learn the basics of document management as well as its many benefits. See more from Buzz the bee as he breaks down important industry buzzwords.

Video Transcript: What Is Document Management?

Hi, I’m Buzz the bee! And today, we’re breaking down another Buzzword: document management.

Document management is the use of software to coordinate the flow of electronic and paper documents to ensure information is readily accessible to authorized users.

It’s essentially a framework that allows for easy creation, storage, and retrieval of digital documents across a business.

Searching for work documents across different apps, files, and desktops can be frustrating and lead to a significant drop in productivity. In fact, over 9 work hours per week are lost searching for documents.

An efficient document management system solves these productivity issues while also providing cost benefits through a reduced reliance on paper, including hardware, printing, storage, and filing.

Although scanning physical documents to create digital versions is the most well-known function of document management, features such as automated data capture help users extract data from documents and route them throughout an organization based on unique identifiers.

But is a document management system more secure? Yes! Security efforts can be streamlined by securing one system rather than multiple applications across several departments.

Additionally, systems offer document access control, tracking, and password protection, ensuring only the right party gets access to each document.

For companies aiming continued growth, a document management system is easily scalable. As your business produces more and more documents, a system can ensure workflows aren’t disturbed.

Businesses in every industry can benefit from controlling the flow of documents for increased efficiency, productivity, and security.

Check out impactmybiz.com/buzzwords for more videos on important industry topics. And tune in next month, when I’ll break down another Buzzword!