Managing, storing, and accessing important documents across multiple departments is an inevitable part of doing business. But, that doesn’t mean it has to be this process has to be the most arduous part of your day. In fact, with integrated document management systems (IDMS), it can be as simple as plugging in a keyword to find that document you need to send over to the finance department, or distributing key documents to the appropriate departments within a few clicks.
The best IDMS will contain a range of capabilities that make even the most overwhelming document repositories an organized single source of truth for your business data. Today, we’re diving into why businesses are making the move towards smarter, more efficient document handling with this technology.
What is an IDMS?
An Integrated Document Management System (IDMS) allows businesses to manage, organize, and access documents seamlessly across different departments and applications. An IDMS doesn’t operate in a silo. It integrates with ERP software, CRM systems, and other essential workflow platforms like human resources and accounts receivable/payable software to ensure a cohesive document management process.
An IDMS has the ability to automate workflow tasks and boost accuracy, which is especially invaluable to departments that deal with repetitive tasks and large volumes of paper and electronic documents. Such departments include sales teams, HR, and accounts payable/receivable teams.
Overall, businesses find IDMS to be invaluable to their operations, as it simplifies processes and brings greater consistency to operations.
Key Features of an Integrated Document Management System
An IDMS integrates various tools to cover all aspects of document management—capture, organization, storage, retrieval, and disposal. It goes beyond basic document management by incorporating workflow automation and promoting seamless collaboration. Here are some key features of an IDMS:
- Document Management: System users can organize and track electronic documents in a centralized repository while ensuring version control and quick access to pertinent information.
- Workflow Automation: IDMS automates repetitive tasks like routing approvals or notifications, thereby reducing user error caused by inaccurate manual data entry.
- Intelligent Capture: Document management uses intelligent capture to extract and match data from electronic documents, allowing for data validation across systems.
- Integration Capabilities: The system integrates with other platforms like ERP software or a CRM system, so data can flow between systems with little manual intervention.
- Search Functionality: 95% of employees feel frustrated when searching for a document. With search functionalities in IDMS, you can easily find documents based on keywords, metadata, or other relevant criteria.
- Version Control: Teams can track document revisions automatically, ensuring everyone has access to the most up-to-date information at all times.
The Drawbacks of a Disparate Document Management System
When businesses rely on disconnected systems to manage their documents, the disadvantages quickly pile up. A disparate document management setup usually requires repetitive manual tasks and data entry, which can undermine productivity and increase errors.
Here are some typical pain points associated with such an approach:
- Productivity Loss: Research has shown a 21.3% productivity decrease when employees face challenges in document access or information retrieval.
- Error-Prone Processes: Manual tasks, such as transferring data between systems, increase the likelihood of human error, which can lead to compliance risks or lost revenue.
- Compliance Risks: Without proper controls in place, it becomes easier to overlook compliance requirements, especially in industries with strict regulations.
- Limited Collaboration: Standalone tools restrict collaboration since there’s no centralized system to support cross-departmental workflows effectively.
The Advantages of an Integrated Document Management System
The advantages of adopting an integrated document management system with advanced workflow automation software are clear. Here’s why businesses are turning to this solution for their content and document management needs.
- Greater Productivity: An IDMS minimizes repetitive tasks by introducing automation, enabling employees to focus on more strategic work instead of manual efforts like data entry.
- Improved Accuracy: Intelligent document capture reduces the risk of errors during data extraction. Workflow automation ensures that processes are carried out uniformly with minimal oversight.
- Enhanced Collaboration: Team members can simultaneously access, edit, and share documents, making collaboration easy while breaking down silos between departments in the organization.
- Compliance and Security: Built-in compliance features help mitigate risks while security tools protect sensitive business documents from unauthorized access.
- Cost Savings: By reducing the reliance on paper documents, cutting out printing costs, and eliminating inefficiencies linked to manual tasks, businesses can experience long-term cost savings.
How to Choose the Right IDMS for Your Business
Selecting the right integrated document management system means conducting due diligence on your business processes and specific needs. Here’s what you should evaluate:
- Alignment with Business Needs: Determine what type and the volume of documents your departments, like human resources or accounts payable, handle regularly.
- Data Security: Does the IDMS offer advanced security capabilities and compliance tools to safeguard your data?
- Scalability: Ensure the system can grow with your business and accommodate increasing document needs.
- User-Friendly Interface: Is the IDMS should be intuitive enough to where employees can easily adopt and use the technology?
- Integration Capabilities: Does the IDMS integrate smoothly with your CRM system, ERP software, and other workflow platforms?
Getting Started with Integrated Document Management Systems
When you implement an IDMS with Paperwise, document management and workflow automation become your best friends in everyday business processes.
Paperwise enables businesses to extract information through intelligent document capture, route it across automated workflows for approvals, and securely store it for future use. Integration with platforms like ERP software and CRM systems ensures a fully connected workflow ecosystem.
Steps for Maximizing Your IDMS
- Assess Your Needs: Identify specific challenges in your business processes, especially those involving repetitive tasks or paper documents, to determine how an IDMS can add value.
- Leverage Paperwise’s Full Suite: Explore all components of the Paperwise IDMS, from workflow automation software to intelligent document capture, to maximize efficiency.
- Implement and Train: Work closely with the Paperwise team to integrate the system seamlessly into your operations. Comprehensive training ensures your team can utilize the system effectively.
- Continuously Improve: Regularly assess system performance and actively seek updates to keep your document management strategy optimized.
IDMS in Real-Life: The Rawson Group
A notable example of a successful experience with an IDMS is The Rawson Group, a valued Paperwise client. Initially, they implemented document management tools but expanded to incorporate intelligent workflows and ERP software integration. In turn, The Rawson Group was able to streamline their payroll operations with automated processes while connecting various teams from field employees to corporate staff, therefore fostering greater collaboration.
Over time, Rawson Group’s IDMS approach would go on to further streamline maintenance workflows, reduce errors, and eliminate inefficiencies stemming from outdated, manual systems.
Interested in learning more about how Paperwise was able to help The Rawson Group to bring greater clarity to their document handling processes? Read part 1 and part 2 of our case study.
Streamline Document Management with Paperwise
Taking a closer look at how your business manages key documentation across systems can lead to quicker information retrieval, streamlined data handling, enhanced collaboration and of course, meaningful cost savings. With Paperwise’s IDMS, your business can experience all of the above. Schedule a demo with Paperwise today and see why more and more businesses are leveraging IDMS in their everyday operations.
