Most firms would agree that electronic document management is more efficient than managing paper-based files. However, electronic document management is not without its own headaches. It can be frustrating to spend time and money on a new document management system only to find out that you’ve introduced a whole host of new problems. With a little planning, though, these problems can be minimized or even prevented.
The most common electronic document management problems
- Managing different file versions. Stop wondering if you’re working on the most recent version of a file by implementing a system with check-in and check-out capabilities and version control.
- Restoring overwritten data. When more than one person has access to a file, mistakes can happen. Version control and audit trail features can help you determine who made which changes and restore old versions if necessary.
- Remembering file names. Electronic document management should make finding files easier. But you can’t always remember what you named a file. Your system should store metadata and perform full-text searches so you can find what you need.
- Getting client signatures. The benefits of electronic document management don’t necessarily apply if you have to print out your documents for client signatures. Implement an e-signature tool to help smooth out your workflows.
- Managing document retention. Just because you can keep all your data indefinitely doesn’t mean you should. Set up file retention rules to automatically flag or purge expired documents.
- Sharing documents. You know you shouldn’t email sensitive documents, but what are your other options? A client portal provides a centralized hub for client collaboration and communications, including source documents, financial reports, tax returns and invoices.
5 essential principles for smart document management
Luckily, these common problems can be overcome with the right document management system. A new ebook, 5 Essential Principles for Smart Document Management outlines some key strategies for making your document management system work efficiently. When you know what to look for, an efficient document management strategy is within reach.
Find out how to solve your electronic document management headaches. Download the ebook: 5 Essential Principles for Smart Document Management.