Stats tell document management challenges account for some 21% productivity loss in organizations.
That was why companies switched to software solutions like DMS, ECM, and Record Management Systems; only to realize that the step didn’t bring a very significant change.
Companies weren’t getting the expected ROI on the same, which was a riddle left unresolved for many.
While the answer was quite simple: they had chosen the wrong solution for their requirements.
Organizations primarily relied on legacy document management systems which did the primary job of storing and managing the data but with restrictions like:
- Limited storage capacities
- Basic functionalities
- And security issues
All that prevented them from achieving the expected results and bringing the change within the organization that they were expecting from such a solution.
The question is: what exact challenges were these companies facing with these legacy document management systems? And is there a way out for you if you’ve already taken the wrong road?
Let’s go ahead and answer these questions one by one.
Challenges Faced by Document Management Systems
Information siloes occur within an organization when information is saved and stored in different places and folders, creating accessibility issues. When the data is not integrated more tactically, it prevents people from retrieving the same in need, which negates the whole purpose of having a system in place.
Google Drive is an excellent example of software that creates information siloes within companies. More often than not, we use this tool to store and manage corporate assets. The tool allows you to keep your documents on a drive, and only those with access to the same can know what documents are uploaded there.
The information thus uploaded is saved in different file folders the ownership of which determines who gets to view the same. Therefore creating virtual walls within the organisation that restrict people from accessing information immediately.
This happens because with different people using different drives, it becomes a task to track down the owner of a document and ask for the required information. Which makes the process of the document retrieval even more complicated.
What you need instead of this is a shared repository of documents. Just like you used to navigate through piles of paper earlier when paper-based documentation was a thing, you need to be able to see things in front of you.
A common repository of documents brings back lost transparency and makes information retrieval much easier.
Document retrieval issues
Cloud-based storage systems and even DMSs today lack advanced search capabilities. This shortcoming causes businesses to lose productivity and efficiency of operations.
The primary reason for this is that if you can’t access the information that you stored on time, the software is no help. Think about it; you shifted from traditional cabinets to modern repositories so you could save the time you spend tracking pieces of information scattered in different places. With such a drawback, the whole thing has no point.
Title-based search is something you are provided by almost every software solution. What you need, along with that, is content and filter-based search capabilities.
It would help if you had a DMS with a robust AI that can retrieve information for you with the help of minor bits of information. The software should also have the potential to provide you with search filtering capabilities, so you can further narrow down your search from a thousand available options.
Just how you shop!
Lack of control over information
There is an unavoidable need to collaborate with people online regarding regular business processes like contracts and accounting requirements, which means they lose control over the shared information. People can print, edit and even further share such information wrongfully that jeopardizes the organization’s operations.
We are in dire need of solutions that keep unauthorized people from gaining access to shared information and define the rights of people who have access to files.
Smart document management solutions with advanced functionalities like dox2U allow you to keep a tab on activities that are being performed on shared files. They also define the rights of people who have access to the documents and allow admins to control corporate assets.
Poor document handling
Legacy systems allow you to store documents, but how do you manage to upload thousands of documents on a portal? Isn’t it a pain in itself? It sure is. Apart from bulk uploading, it would be best if you had a DMS that allows easy organization of these documents. So you can label and tag these files as you wish and set up a system.
Another major issue that companies overlook while DMS shopping is their software’s capability to leverage text extraction. It is ignored because people believe that storing documents is enough while being able to create them is equally important.
With the help of OCR/ICR technology, smart DMSs allow you to create workable versions of documents. So the next time you have a scanned copy of a document, you can just run it through the software and create an editable version of the same in seconds.
These challenges are faced by organizations at large that overlooked the need for these functionalities and chose the wrong DMS initially. Sticking to a DMS that has these shortcomings can have a very negative impact on your overall business. It is highly suggested that you switch to an intelligent document management system with the right features and capabilities.
One such DMS is dox2U since it offers a shared repository of documents, content and filter-based search capabilities, audit log and granular access control for information security, and many helpful features. The best thing is they have a lifetime free plan, so you can test everything before investing your hard-earned money this time!