A Crash Course on How a Document Management System Will Transform Your Business

Organise your Office. Engage your Customers. Get More from your Existing Team.

The Problems Document Management Systems Solve

  • Information chaos – Stop duplicate files, content disorganisation, and data overload.
  • Poor security – View audit trails, reduce risk of confidential leaks and hacks.
  • Version control – One version of the document seen by everyone, no duplicates and confusion.
  • Email complexity – Control security risks, track files, receive alerts, automatically file attachments.
  • Compliance costs – Meet audit and litigation requirements to prevent fines and damages.
  • Document access – Log into your document system from outside the office.
  • Misfiling & search – Prevent significant search time per worker per day looking for lost files.
  • Legal approvals – Legal digital signatures to significantly reduce contract turnaround time.
  • Information silos – Integrates with your existing software and systems so all your files live in one place.

What Are The Key Business Adoption Drivers?

  • ROI – ECM (Document Management) applications return $6.12 per $1 invested. 42% of companies achieve a payback period of 3 months or less on their scanning & capture investments.
  • Information Chaos – Staff usually email 2 files a day to 5 people, creating 10 files in multiple places. 39% of businesses describe their email management as ‘chaotic’. 55% call email ungoverned, high risk content.
  • Productivity & Efficiency – Conducting search across all content could improve staff productivity 30%. Businesses using digital signatures save $20 on average per file, with an 80% reduction in client turnaround times.
  • Compliance – Audit, litigation, fines and damage costs can be reduced by up to 27%. Compliance is listed as a top business driver in 90% of projects.
  • Security & Lost Data – Companies typically lose up to 20% of their records each year via misfiling. For 60% of large businesses, the impact of leaking confidential info would be high. For 13%, disastrous.
  • Storage – Paper file volume & unstructured data is growing at 30% per year in companies. Businesses could reduce disk space by up to 42% with just 1 copy of each file.

What Benefits Do Document Management Systems Deliver?

  • Automate Filing – Automatically file the information you send and receive.
  • Upgrade Your Email – Integrate with Outlook, track sent files, increase security, auto-file.
  • Workflows & Compliance – Streamline office approvals, meet legal & industry requirements.
  • Company-wide File Search – Get the full history of any customer in seconds & search inside files.
  • Bank-Level Security – Audit trails, bank-level security & reduce risk of confidential leaks.
  • Powerful Integrations – Integrate with Word, Excel, Outlook, PowerPoint, CRM & Accounting Apps.
  • Business Reporting – Insights into your business, team and client performance & workflows.

What Factors To Consider When Choosing A Systems Provider?

  • Find a Document Management technology best-of-breed specialist, not a multi-system vendor.
  • Look at the size of the team, their expertise and commitment to support.
  • Ensure that it meets industry best-practice security requirements.
  • Make sure the system can integrate with your existing business processes and software.
  • Look for a provider that has a proven track record of successful system implementations.
  • Make sure that your chosen provider has a clear data migration plan.
  • Check whether the provider will manage the migration from start to finish.
  • Make sure the system has additional Client Portal communication benefits.
  • Make sure your provider offers local support.
  • Ask for reference sites you can contact to see what other businesses say about the system.

What Features To Look For

  • Global system-wide ‘Google’ search functionality with enough sorting and filter criteria.
  • OCR (Optical Character Recognition Technology) to allow in-file text searching of scans & PDF’s.
  • Automated email and attachment filing, with tracking and capture features to auto-file to the correct customer, job or matter.
  • Seamless integration with your Practice Management, Accounting, CRM, Microsoft Office Suite… and any other software you use.
  • Workflow automation and document life-cycle functionality.
  • In-tray’s and document distribution for individual and group file storage and exchange pre-filing.
  • Thumbnail image previews of internal document content in searches.
  • Client Portal communication tools, for secure file sharing and collaboration.
  • Electronic signatures for legally binding digital approvals.
  • Reporting tools to understand your business’ performance. For example: total outstanding jobs, or the stage of each document in its workflow.
  • Strong Document Indexing & Tagging functionality for painless, efficient, accurate filing and retrieval.
  • Automatic email reminders to customers for unsigned or unopened documents.
  • Highly encrypted data with Extended Validation SSL certification & AES-256 file encryption.
  • Audit trails and traceability.
  • Anytime, anywhere, access to documents.

For Trouble-Free Implementation

  • Find a senior-level champion to get involved from the final selection through to implementation, so they can monitor progress through key milestones.
  • Involve the eventual users in your procurement process.
  • Communicate with the team on the selection process and encourage input.
  • Involve IT resources early.
  • Consider software specifications and system requirements.
  • Think about filing structures. How will you want to find client information?
  • Security: consider who will need to have access to those client files and devise access controls.
  • While it’s good to think about security up front, don’t put too many controls in place unless you really need them.
  • Scanning processes: consider your scanning options for processing incoming documents.
  • Make sure your team is as excited as you are with the new system. Buy-in is critical. As is training.
  • Check that your chosen system adheres to International Standard, ISO/TR 22957:2009. It is recognised as EDM (Electronic Document Management) industry best practice.

So why Choose the M-Files Document Management System?

Organise Your Business, Communicate Faster With Clients, Boost Your Security, Increase Your Existing Team’s Performance.

For more information on how we can help your organisation please email: peter@documentmanagementsoftware.com.au or visit www.documentmanagementsoftware.com.au

Peter Ellyard

Having spent over 20 years immersed in the document management software industry I have found that by offering a simple to use, highly effective electronic document management solution (knowledge management software) we increase productivity dramatically. Typically by an hour per person, per day! This is not rocket science, just a simple way to streamline your day to day information needs.