An outsourced document management program enables businesses to focus on core business needs and better serve their customers. Outsourced paper processes can build an adaptive company, able to review operations in-depth at a moment’s notice.
Rather than managing volumes of paper files in-house, many businesses are transitioning their record information managers to document governance specialists and outsourcing their document management to highly experienced document imaging and management companies. Outsourcing your documents to a document imaging and management provider can speed up workflows and build a secure electronic repository for documents that reduces storage, your ecological footprint, and more.
What is Document Management?
According to the Association for Information and Image Management (AIIM), document management is defined as the use of computer systems and software to store and manage electronic documents and images from paper-based information captured through the use of document scanning.
Document Management Systems are designed to ensure the proper handling of information and data throughout their information lifecycle. Agreements, invoices, receipts, and reports generated by businesses must be correctly stored, retained, and disposed of as outlined by state and federal laws that guide common Document Retention Policies. Following your document retention policy and its schedule becomes more manageable with a document management system (DMS).
Why is Document Management Important?
Document management changes the way vital business files are stored, retrieved, and managed. As organizations produce more confidential and private information, they need to find solutions for managing large amounts of company records.
Keeping good records helps companies protect their company data, transactions, and decisions. Implementing a quality document management system is essential for businesses because it saves time and money while improving internal efficiency.
How Document Management Can Digitally Transforms Your Business
Document management and imaging is the first step in organizational digital transformation. Today’s businesses cannot operate under slow and manual paper processes. Document scanning and management are needed for successful remote work.
Enforcing document management within your organization fosters a collaborative environment that enhances productivity so you can better serve your bottom line. Proper implementation can streamline the review and approval process that creates workflows of action items for workers and employees. Strong document management ensures everyone, regardless of department or team, knows exactly where documents are and uses access controls to maintain privacy.
Who Benefits From a Decentralized Document Management Solution?
An appropriately structured document management solution helps every organization encourage innovation and growth. Some organizations do not realize the benefits of outsourced document management until it’s too late.
Here are some common situations that warrant the implementation of document management:
- You’re using outdated information to make business decisions
- You process a high volume of transactions
- You operate under complex legal and regulatory requirements
- Your location is at risk of natural disaster or the elements
- You cannot locate records for an upcoming audit
- You maintain records with sensitive information
- Your team works remotely
In-house document management can pose security risks. When your organization manages large quantities of data, a document management provider acts as your insurance policy, covering valuable business data with digital backups.
How Does A Document Management System Work?
In short, document management systems (DMS) capture, store, distribute, and track documents including mail correspondences. The DMS is a long-term and reliable storage option for documents. The system is scalable and accommodates evolving document types, expanding volumes, and technology advancements.
Documents Are Scanned and Stored
Document management and document imaging mimic traditional physical filing systems. A complete DMS uses scanning technology to convert paper documents to digital files. Instead of a file cabinet, a Cloud Server is used to maintain files.
At Didlake Document Imaging, we review scanned files and organize them in the Cloud on behalf of organizations. We deliver a platform for our clients to search for files to access or dispose of according to information governance frameworks.
Documents stored on cloud services provide access control for key department leaders and employees. Files are secure and organized to be easily accessible from any server or location.
Documents are Indexed
Documents scanned to the Cloud can be organized for easy search and retrieval. The process can take unstructured data and capture it into valuable sets of data. Skilled providers capture indexes with the help of modern technology. Digital files can be filtered by order number, customer IDs, and other identifiable meta-data.
Indexing Documents With OCR
Documents are indexed through Optical Character Recognition (OCR) technology. OCR can recognize text inside documents and images. When images are indexed, their content is converted into written text, creating readable data on your computer.
On average, 36% of a worker’s day is spent looking for information in documents or files. OCR technology gives workers the power to quickly search and retrieve information, saving your time and money.
Retrieval Systems for Indexed Documents
A DMS allows Authorized personnel working in person, at different locations, or over the internet to make existing procedures and systems simpler. Indexed documents act as a retrieval system. Quality retrieval systems use meta-data, index, and text from documents to make finding documents fast and efficient. Retrieval systems also offer control and flexibility over documents.
Automated Records Retention and Destruction
Document management systems can automate documents tied to records retention schedules. The system identifies and destroys documents at the end of their schedule as outlined by a document retention policy.
What Do I Need to Do Before I Outsource My Document Management?
Before you outsource your document management to a qualified partner, there are things you should consider. Here is what you should do before implementing a new document management program.
#1: Review Documents, Regulations & Security
Before selecting a document management provider, you should understand the types of documents you are managing. You’ll also want to account for the condition of documents. Are they aging and fragile? Also, consider who needs certain documents and when. Will the documents you are scanning need to be shared across multiple people, departments, or offices? Think about where documents are currently stored. Ask yourself if you will need to retrieve them from off-site storage?
#2: Understand Security Needs & Legal Regulations
Record retention policies, regulatory guidelines, and legal compliances should guide your document management program. For example, if you are maintaining private medical records, you will want a trusted provider who is HIPAA compliant.
A common misconception is that cloud-based document management is bad for security. In fact, reputable cloud vendors provide scalable solutions to protect your data far better than in-house resources.
#3: Think About Current Business Processes
When organizing and streamlining administrative tasks with a document management provider, you will want a system that is compatible with your current software. Your document management system should provide a fully integrated platform that works seamlessly with all core business processes. The goal of your project should be to keep data consistent across your organization.
How Can A Document Management Provider Help You?
A quality document management provider will help you gain control and optimize your program. Your vendor should act as a true business partner since they will play a vital role in your success. At the most basic level, your document management partner should:
- Work with you to understand your business challenges
- Help you determine a project budget
- Develop a plan of action for file organization
- Provide a security-enhanced, clean facility with a strict chain of custody.
The right document imaging project manager has the resources to take control of your information by providing you with the technology and tools for long-term success.
What are the Benefits of Outsourced Document Management?
Outsourcing non-core operations such as document shredding, storage, and imaging to a document management provider can let you focus on your organization. Decreased transaction and processing give you more capital to enhance operations.
At Didlake Document Imaging, we understand that as your business grows and technology evolves, we must find new solutions for maintaining mission-critical files. Implementing a scalable document imaging and management program keeps your business moving forward.
Request a free quote or consultation from our expert team of scanning professionals to streamline your workflows into the digital age.