Technology Enabled Business Solutions
Comments: No Comments
Functionality: What does it do?
A document/records management system creates a company-wide framework for central and secure storage and organization of and access to documents and records. Having a good document management system is essential for maintaining the vast number of documents required by regulations and standards, particularly since some have retention cycles for as long as 30 years.
Benefits: Why do you need it?
Document management provides the following:
- Central and secure storage, organization, and access to documents and records locally or remotely.
- Process and document standardization.
- Higher quality data due to reduced human error.
- Improved collaboration and dissemination of document updates to staff.
- Improved document searchability and accessibility.
- Enhanced workflows for approving and completing tasks involving documents.
- Easy access for audits and clear audit trail.
- Version control and history.
- Reduced paperwork.
- Ease in uploading documents (similar to a shared network drive) and adding/updating metadata for searchability.
- Improved security of sensitive documents (permissions that can be applied at the document level).
All of which lead to more consistent, efficient, and reliable compliance performance.