With the rise of modernization and digital transformation comes the evolution of compliance environment, making businesses of all types and sizes face more economic, regulatory, and competitive pressures. The use of a document management system that contains the features that businesses demand has been proven to help in keeping up with this business environment transformation.
Some of us have a vague idea about what a Document Management System (DMS) is. For those, let’s have a quick recap.
What is a Document Management System (DMS)?
A Document Management System is a set of computer programs and computers systems that are used to collect, manage, store, and retrieve data. It has replaced the traditional paper documents and manual document management systems.
Why Do Businesses Need an Electronic Document Management System?
An Electronic Document Management System has many benefits over the traditional document management system. Electronic DMS is fast, efficient, convenient, can store large bulks of data, easy to use, easy to manage and most importantly, it supports sustainability by going virtual.
What are the Top Industries that Need Document Management System?
In this virtual world of technology, electronic DMS has progressed to be one of the foremost used document management systems. Every business or company has some kind of DMS incorporated in its operations. Find out how a Document Management System helps leading industries digitize, save costs, increase efficiency, and manage compliance.
- Financial Consulting and Other Financial Services
A DMS is the only possible solution that can document those large transactions. DMS makes sure that these transactions are accurate, done in a timely manner, and are transparent. This prevents any fraud, miscalculation or misplacement of money.
In health care industry, DMS is an efficient and convenient choice to document patient history, hospital/clinic information and medical procedures. DMS makes sure that a hospital or clinic records are documented in case of any lawsuit.
- Human Resource Agencies
In the human resource/recruitment industry, DMS documents employee history, employee benefits, employee attendance and other such matters related to employees of a company/business.
In the banking industry, the most sensitive information is transactions occurring between parties. Any breach of the information can result in a loss of millions of dollars. DMS ensures that banking information is safe and dealt with transparently.
In the education industry, DMS is an efficient choice for maintaining records of students and teachers.
- Emergency Services
In the emergency service industry, DMS makes sure that all the calls and texts sent to them are documented for the safety of citizens of a particular locality.
- Legal Industry
In the legal industry, DMS makes sure that all the court proceedings, criminal records, and contracts are documented and secured. DMS ensures the confidentiality of sensitive documents and information.
- Insurance Industry
In the insurance industry, DMS makes sure that all the records of clients and their payments are maintained and protected.
- Retail Stores
In the retail industry, DMS documents sales, purchases, and inventory records.
- Airlines and Other Transportation Companies
In the transportation industry, specifically airlines, timings of each flight or departure of other vehicles are very significant. DMS records those timings and maintains a record of previous customers and bookings for the future.
- Government Bodies
DMS is also very efficient and transparent while dealing with sensitive records of residents of a state, maintained by government bodies.
- Mortgage Companies
In the mortgage industry, DMS ensures the documentation of payments, customer records, and the date of those payments.
If we have a look around us, DMS is in every business. It has supported businesses for over 4 decades and will continue to do so until it is replaced by a more efficient and secure system.
Document Management Solution for Every Industry
Archive One has the capability and knowledge your company needs to convert to a paperless office or manage your digital records system and eliminate offsite storage costs. We can help organize your files to be scanned and choose the right document management system so your business can have a high-quality, document imaging system to optimize your information workflow.
Archive One is a document management software designed to help companies easily classify, store, secure, and retrieve essential company documents that are needed for retention and audits. With the help of our partners, we provide an end-to-end document management solution from scanning to document storage, at a highly competitive price.