10 Document Management Benefits You Should Know

Dec 2022
Mins read

Document management is an important part of any business, but it's especially important for any business that depends on accurate documentation. But what are the advantages of using a document management system? In this blog post, we'll look at ten of the most important ones.

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One thing to learn from enterprise-level businesses is the importance of a reliable document management system. That's especially true if you operate a business that relies on maintaining accurate documentation.

A document management system like CentricMinds can help you and your team stay organized and track the history of every document your business needs.

Keep reading to learn more about the benefits of the document management system.

1. Maintains Compliance in Regulated Industries

Industries like healthcare, law, accounting, engineering, and construction have strict regulations when it comes to documentation. Interactions with patients and the care they're provided, changes to engineering drawings and as-built documents, and tax filings need to be documented and accounted for. In some industries, a thorough history of the document before changes needs to be retained through revision and version control systems—something only modern document management systems can handle efficiently.

With a robust document management system, documents can easily be saved, revised, tracked, and accessed as needed, and best of all, they're stored in a centralized place.

2. Saves Physical Space with Cloud-Based Storage 

As recently as a couple of decades ago, big businesses stored all of their documents on-site in their physical form. While the many systems in place were effective, they also took up a huge amount of space in their buildings that could have been used more productively.

A digital document management system like CentricMinds is a cloud-based solution, which means no physical storage is necessary.

3. Makes Documents More Accessible

When it comes to on-site, physical document storage of important documents, staff need to be physically present to access files and paper documents that might be crucial to the projects they're working on. And in a world where an estimated 35% of Americans can work from home, that would be a rather inconvenient approach.

An electronic document management system opens access to those with an internet connection and authorization to log in to your platform from anywhere in the world. Your team can start retrieving the documents they need when they need them most.

4. Reduces Costs

The cost of operating a physical document management system can be astronomical. It includes everything from rent for the additional office space needed to house files to wages for maintenance personnel. Alternatively, the cost associated with cloud-based document management is low in comparison, as there's no need for physical space or related overhead costs.

5. Recovers Lost Data

An estimated 25% of businesses fail to reopen after disaster strikes. For many, reopening becomes too difficult because their records have been destroyed. A cloud-based intranet document management software like CentricMinds can ensure that documents and data are backed up and accessible, even when disaster strikes.

6. Integrates With the Systems

A recent survey indicated that large companies use as many as 130 different apps to conduct business. That's a lot of apps to manage, and adding a new system can sound overwhelming when you're dealing with that much. Thankfully, CentricMinds document management system integrates seamlessly with other standard business apps, including Slack, Asana, Sharepoint, Google Docs, and Microsoft Teams.

Once you're up and running with CentricMinds, you'll have one centralized screen integrated with everything you use, making it easier than ever to get things done.

7. Reduces Time Spend Looking for Documents

A study conducted in early 2022 by Coveo discovered that the average office worker spends 3.6 hours looking for information and documents each day, while those in IT spend as much as 4.2 hours searching for files. Imagine how productive your team could be if that time were reduced by 50% or even 75%.

With an effective document management system, that dream could be a reality. And of course, less time spent on document retrieval and finding lost files means more time spent working, which means increased productivity and, ultimately, more revenue for your business.

8. Better, More Efficient Workflows

CentricMinds is more than just a way to store files, its a comprehensive company intranet program that gives you and your team the power to get things done faster and more efficiently.

Improve efficiency for everyone you work with thanks to streamlined workflows and no-code automation that makes getting the job done much easier.

9. More Collaboration for Remote and In-Office Teams

A document management system can enable your employees at home and in the office to work better together. Workers can share and collaborate on files and projects, work simultaneously with the same document, and communicate in real time with CentricMinds in-app messaging tools.

Employees working remotely can even access documents while on the go using the CentricMinds app, which is available for iOS and Android devices.

10. Enhances Security to Protect Your Data

CentricMinds document management system is as secure as it gets. Whether you're storing patient records, clients' financial data, or proprietary and confidential information, your data is secure with CentricMinds.

Your documents will be uploaded to your cloud-hosted by the provider of your choice, and access is only granted to those you authorize and share login details with. Furthermore, access can be restricted as needed if employees choose to move on or no longer require it.

Choose CentricMinds Document Management System

CentricMinds provides the best document management system option for mid-sized businesses in almost every industry. It offers an out-of-the-box solution that can be set up for your business without the help of IT experts.

Use CentricMinds to save time and money. Give your employees a single dashboard where they can access everything from files and documents from all applications to intraoffice communications from management, project leaders, and coworkers.

In addition to top-of-the-line document management solutions, CentricMinds also comes with an array of other useful features, including a comprehensive team database that allows you and your employees to set up detailed profiles that include areas of expertise, past projects and experience, certifications, photos, and even fun tidbits about themselves.